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If you had the option to either save 4% or make 7%, which would you choose?

Certain debts are regarded as good and so getting rid of something good would have to then generally be regarded as a bad thing to do. (01:07)
If you had the option to save 4% or make 7%, the best answer for those who do not want to be a millionaire would be to save 4%. Saving 4% is obviously much less than making 7. (01:24)
This can apply to things such as lower interest student loans, or even just switching to a 15 year mortgage instead of a 30 year, forcing you to commit to paying back more money more quickly into a perhaps very low or even potentially tax deductible, good debt like a mortgage. (01:57)

Quote for the episode: "So paying off a 4% mortgage for example, early with extra payments, instead of taking that same exact money and putting it into a well diversified investment that may make 7% for example long term is a great strategy to not be a millionaire." (01:39)

Securities offered through TFS Securities, Inc., and Advisory Services through TFS Advisory Services, an SEC Registered Investment Advisor Member FINRA/SIPC. TFS Securities, Inc., is located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.

43:T4cc,Young families receive little to no personal finance help. We all grow up to have jobs and money, yet our education system focuses on Shakespeare and Algebra. Even professional advice can be hard to come by, with the majority of the industry chasing retirees and existing wealth. Joe Okaly's podcast is aiming to change this, providing personal financial advice geared specifically to professionals with young families. This podcast is dedicated to making life more enjoyable for young families, by hitting on the financial topics that tend to weigh on us, stress us out, and distract our focus from simply enjoying life. Joseph P Okaly is a CFP Certified Financial Advisor who fits directly in with who this podcast is focused on - a young professional with a family. With over a decade of experience as an advisor, there is passion and knowledge to make a difference. Investing i

Getting Good Debt Gone | Series 9.8