Debt can be a double edged sword.
If wisely used, it can bring massive wealth to you.
For instance, business owners tend to receive funding to expand their business operations. Time and money is vital for every business to stay ahead of competition.
Another example is taking a loan at a minimal interest rate of 1%-2% per annum and leveraging the money on investments such as stocks and shares and properties.
In the case of property investment in Singapore, the buyer is able to own a big ticket item like property by just paying a minimal 10%-25% downpayment.
On contrary, if he spends beyond his limit and buys depreciating items such as car, expensive holidays, country club memberships etc without proper financial planning, this may lead to financial distress.
Contact us at +65 8556 5271 for a FREE consultation on how you can convert good debt into your retirement and financial success plan.
Mortgage Consultancy currently manages $900 million worth of retail mortgages for 2000 home owners.