Good Debt VS Bad Debt

In this episode of GEM's Uncut, hosts Heather and Mollie dive into the often misunderstood concept of good debt versus bad debt. They emphasize that not all debt is detrimental; in fact, some debt can be a strategic tool for building wealth and increasing income. The discussion begins with defining good debt, which includes student loans, mortgages, and business loans—debts that can appreciate over time or have low interest rates. Paying off low-interest debt too quickly can hinder wealth-building opportunities, encouraging listeners to consider the long-term benefits of certain debts.CHAPTERS:00:00 Introduction to Good Debt vs. Bad Debt01:21 Defining Good Debt03:17 Identifying Bad Debt06:14 Assessing Your Debt Situation08:08 Seeking Professional Financial AdviceThis informational and educational podcast does not offer or constitute – and should not be relied upon -- as financial, mortgage, credit counseling or tax advice. Equitable Advisors, LLC and its associates and affiliates do not provide tax, legal, mortgage or credit counseling advice or services. Asset Allocation is a method of diversification which positions assets among major investment categories. This tool may be used in an effort to manage risk and enhance returns. However, it does not guarantee a profit or protect against a loss. AGE-8020057.1(6/25)(Exp.6/29)