Gearing up for a risky shot at riches: Mary Holm
Q: ...It has prompted me to comment that I do not agree that the commonly held belief of paying off your mortgage and having no debt is the way to financial freedom...
Thursday, November 28th 2002, 6:37PM
by The Landlord
A: In many cases, you're quite right. But it's also how many formerly rich people got poor. Leveraging - which many New Zealanders call gearing - isn't the key to doing well financially. Finding the right investment is.
Gearing makes a good investment better. It makes a bad investment worse. And I hate to say it, but your history illustrates this rather well...
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