The average twenty-something young adult working two jobs to make ends meet – pay off his student loans, mortgage, and credit card bills to avoid high-interest build-up – has often been cited as a cautionary tale for the rest of us.
Debt is bad, right? In fact, it’s not just wrong – it’s the literal beginning of the end.
For example, student loans are supposedly ‘structured’ to take ten years to pay off. However, most Americans spend an average of twenty-one years clearing off their debts!
To reaffirm: Debt is bad.
So why did billionaire Elon Musk take out sixty-one million dollars in mortgages on five California properties? All the while also pledging forty percent of his personal shares in Tesla for collateral for other loans? How did this loan not set him back? Keep watching this video to find out.
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#Billionaires #Debt #Finance
