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“Rich Dad Poor Dad” and Costa Mesa Real Estate

 

“Rich Dad Poor Dad” was a smash self-help hit book a few years back, selling more than 32 million copies. One of its major premises is that the odds for accelerating wealth creation are shortened for children of “rich dads” who grow up learning the difference between those who “go to work to make money” and those who “make money work for them.”

As yet, there is no best-selling non-fiction book titled “Good Debt Bad Debt”—but that phrase could make a fitting companion to Robert Kiyosaki’s hit. The concept behind it would be simple enough—but a distinction that’s increasingly valuable as worries proliferate about continuing inflation and possible recession.

It’s a distinction that can be lost in the clamor. For instance, CBSnews.com declared last week, “Any debt you can get rid of now will help put you in a better position if leaner times lie ahead.” That’s mostly true, but misses the basis by which a debt can be judged ‘good’ or ‘bad.’ The key question is, “does it help generate income or build net worth?”

Bankrate.com has long posted a simple chart tucked away beneath all the ads:

Good debt      vs.      Bad debt
Mortgage                    Credit card
School loan               Store credit card
Real estate loan       Auto loan
Business loan

That’s a clear enough list, but when explaining it to the kids, the Good Dad (or Mom)’s lesson would be most memorable if it were accompanied by a simple explanation of why:

Good debt helps increase wealth.
Bad debt only postpones payment.

It’s our privilege to help facilitate Costa Mesa real estate transactions designed to pay off in many tangible ways. Call anytime!

We are built on a philosophy of Heritage & Hustle. The L3 is a full service real estate agency with a regional office located in the heart of #CostaMesa, offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976.  It’s L3 mission is to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. The L3 was originally formed to offer personal, concierge-level service as an alternative to the large, nationally based real estate companies. From its small beginnings of only two employees, The L3 has grown to a full staff of 25 serving over 300 clients a year. The L3 is not limited to serving just its clients; it is also committed to serving the community. Not only has The L3 donated hundreds of hours to many area charities, they have also received the prestige of being named one of the #toprealestatecompaniesinCostaMesa  If you’re interested in #buyingorsellinginOrangeCounty, turn to the experts. Turn to The L3 and let them help you make your real estate buying or selling dreams come true. For more information or to get started on finding or selling your home contact The L3 today at 714-444-4663 or email us at info@thel3.com

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