Non-Tax Deductible Debt

Holding bad debt is the killer to your financial goals. Paying your home off over a 30 year period is exactly what the bank wants, they want you locked in paying interest for 30 years.

Do you have car finance and personal loans? Have you ever consolidated your personal loans for another 7 years to reduce your monthly payments? Or have you secured a loan to buy that motorbike or jetski you only use every now and then? Banks love these customers too! More money for them and sadly less for you to invest in your net worth.

While you are tied down paying off bank loans that are non-tax deductible, those liabilities go down in value the longer you hold them. You’re paying interest on something that depreciates in value. That’s not smart, is it? What does this mean for your net worth? It means you’re going backwards. You may look good with the nice car or jet ski, but unless your plan changes you’re going to end up poor.

Your attitude towards non-tax deductible debt ‘bad debt’ needs to change. Bad debt is a cancer to your financial well being.

Our Legacy System will see you invest in your future by leveraging ‘good debt’ while also liberating you of the non-tax deductible bad debt which is currently killing your dreams. The investment income generated will target and relieve you of your home’s mortgage, personal loans, credit cards and car loans and get them paid off quickly.

Tax deductible debt which is used for investments is good debt. The richest people in the world all hold good debt which they use to invest in appreciating assets that grow in value. Rich people focus on adding assets to their balance sheet’s asset column. Show us a wealthy person and we’ll show you how they used good debt to build their personal fortunes.

Government favours Australians who give-it-a-go and invest in their futures. They know that when more Australians invest in themselves there’s less people relying on government welfare in retirement. Good debt is tax deductible. Good debt gets you ahead if used wisely.

Good debt is not a dream killer, it’s a dream maker when used with appropriate assets. Good debt is easily managed, and down the track it will also be paid off. Legacy System’s formula is to pay off loans as you go forward. With the assistance of our finance strategists, they will will help you target all of your bad debt first, and then your good debt.

If you’re prepared to find out more information, if you’re prepared to have a conversation about how our Legacy System can work for you, then contact us here.