Fearless Money

I’m reading“No B.S. Wealth Attraction for Entrepreneurs” by Dan Kennedy. He’s got a lot to say and a lot for me to learn. The book is filling up with highlighted notes. Just this evening, one section stood out for me. I just assumed he’d be one of those “leverage to the hilt” guys, I can’t really say exactly why I thought this.

I was wrong, he’s very clear about his thoughts, and his friendship with Dave Ramsey.

Debt is EVIL because…
- Every dollar you bring in is instantly diminished in value by its need to contribute to servicing your debt.
- It compels you to do things you would otherwise not do. Debt produces need. Need is completely counter-productive.
- It leaves you vulnerable to short-term competitive or marketplace challenges, economic slumps, aberrant events (e.g, 9/11), etc. that you might otherwise have painlessly withstand.
- It is habit-forming. It is easy to get good at juggling debt, comfortable living in debt. You can get so good at survival skills that they are in the way of developing success skills.
- It is a source of worry, anxiety, and frustration that interferes with wealth attraction, productivity, and even physical health.
- It lengthens the time required to get to your Financial Independence Number, sufficient assets and investments that you never need work or earn another dollar for the rest of your life.

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