Getting Rich With Debt — Using Debt to Achieve Financial Freedom (The Value of Debt in Building Wealth)

10 min readDec 30, 2023

Conventional thinking tells us that the first step to financial freedom is to avoid debt. This is unfortunate. Because debt is a powerful tool.

These two short sentences simply state the purpose of this entire book, how to use debt to help us achieve financial freedom.

Before reading this book, I was stuck in the traditional mindset that debt is bad and that it’s only right to pay it off early, but I never realized that sometimes debt can be a tool to help us increase our wealth.

It never even occurred to me why many companies with extremely high cash levels would take on debt. It should be very difficult to find a completely debt-free company, even if it is in good shape (e.g., the light of our nation’s enterprises, TSMC), it will have debt.

When you think about it, you will realize that debt is not as bad as conventional thinking.

The author of this book is a well-known financial consultant in the U.S. This is also his third book, the first two books also focus on debt (The Value of Debt and The Value of Debt in Retirement), I feel that this book is not an extension of the first two books, although I have not read the first two books, but I feel that this book is very simple and easy to understand, although the figures in the book (the salary section) are denominated in U.S. dollars, which is something that I am accustomed to. I’m used to converting them to Taiwan dollars, so I often get stuck on the numbers for a while (poor math after all…) and since the basic salary level in the US is higher than in Taiwan (the average annual household income in the US is 60,000 USD, which is almost 1,800,000 TWD), I may think that the amount is too high when converted directly, but on second thought, I don’t think it’s necessarily the case.

Next, I will summarize the key points I learned in this book, and put the summary of the whole book at the end.

Photo by Andrew Neel on Unsplash

1. Breaking away from conventional thinking

In our anti-debt world, I believe that most people start life with too much debt and are too eager to pay it off. For this reason, they don’t start saving until much…




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