Consider what kinds of financial goals you need to achieve, and what kinds of investments will help you get there. Avoid the friction of income taxes. Taxes can slow you down, chipping away at your growing wealth. This simple, often-overlooked option can make a considerable difference over time. Use debt wisely.
Debt is the fire of investing.
It can be powerful if used wisely and destructive if used poorly. Debt can be leveraged when making conservative choices such as opting for a mortgage on your home, a payment thatwhich is tax-deductible and will leave you with a valuable asset. However, taking out a loan for assets that will quickly depreciate, such as an expensive car or luxury item, rarely pay off. Most importantly, avoid the credit card trap. Protect yourself and your family.