Once upon a time, I was taught to pay everything in cash.
Told not be a slave to the banks.
Told to be debt free asap.
I lived by that principles until the 40s.
Broke 99% of the time.
How come like that . . . . . WTF . . . . . Apa ini !!!!
I borrowed good debts to buy property and pay on time.
I changed the way I pay the bank loans for the HDB flat I was staying in.
I derived cashflow from every business and properties I have.
I pivoted and had a lighthouse (bigger than light-bulb moment) moment.
I finally understood what the great Gurus are teaching about bank loans.
Paying cash for properties is dangerous. You can lose money if the property price decreased.
Leveraging on bank loans can help you make a profit, even when you sell at a lower price than your purchased price.
And best of all, free money every month.
Working hard to pay up the loans asap meant delaying the good life till tomorrow as if we are sure that tomorrow will come.
Enjoy life every day.
Don’t appreciate money.
And keep looking at the numbers in your banks.
Investor, Practitioner and Full-Time Coach