Dave Educates College Grad: What Debt Actually Is

[@hurricaneplayer066]

Man Dave handled this call gracefully 😂

[@xlerb2286]

I've seen a lot more companies implode from trying to grow too fast than companies that missed the boat by growing too slow. We just had a large developer in town here that had built many high end apartment, office, and industrial buildings collapse. The buildings had an effective 100% occupancy rate, rents were being paid, there were no natural disasters or other unexpected expenses. They were just over-leveraged, and it all came crashing down.

[@aapduenas123]

Trying to 3x your business in a single you especially using debt is such a dangerous thing to do. I have grown my own window cleaning business very slowly and just started doing it full time over a year in, but happy I have done it slowly with no debt instead of borrowing to upgrade equipment and such.

[@zimmermanlandscape9287]

Mark Cuban said if you waste a dollar you’ll waste a hundred. Interest on 400 large is a lot more than one dollar whether interest rates are 2% or 7%

[@PauletteSmith-s8n]

Hit 240k today. Appreciate you for all the knowledge and nuggets you had thrown my way over the last months. Started with 24k in August 2024

[@HollyGarwell]

I would really love to know how much work you did put in to get to this stage

[@PauletteSmith-s8n]

I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear that you saved me from huge financial debt with just a small Investment, thank you Jihan Wu you're such a life saver

[@BryonyClarke-e4v]

As a beginner in this, it’s essential for you to have a mentor to keep you accountable. Jihan Wu is also my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.

[@GregFunnell-q9f]

Jihan Wu Services has really set the standard for others to follow, we love him here in Canada 🇨🇦 as he has been really helpful and changed lots of life's

[@JimJamieson-z4h]

I'm favoured, 90K every week! I can now give back to the locals in my communities and also support God's work and the church. God bless America,, thank you Mr Jihan Wu😊🎉

[@TownspersonB]

So he wanted to explode the company in size by taking on a bunch of debt then get out of Dodge by selling to someone who'd have to clean up all of that risk?

[@jimroscovius]

Great advice from Dave. Again!!

[@GraceOliviaf7y]

Investments are the roots of financial security; the deeper they grow, the stronger your future will be."

[@NikolasMartine01]

Exactly! With my adviser, I’ve cultivated deep investment roots, strengthening my financial security for the future.

[@TeddyAlexanderv6]

I would love an introduction to an adviser who can help me strengthen my financial roots.

[@NikolasMartine01]

My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.

[@TeddyAlexanderv6]

Thank you for this amazing tip. I just looked the name up and wrote her.

[@danieljohnson4418]

Debt=risk Risk=opportunity

[@TScottW99]

You can grow debt-free, there will still be risk but you won't go out of business as there is no one to call your debt.

[@davidbrayshaw3529]

Debt= obligation. Obligation=inflexibility.

[@314Aurelius]

Question for Dave: some of my vendors offer 3-6 month terms at 0%. Does he consider it carrying debt, if I pay the bill using these terms, since they’re longer than 30 days?

[@jeehill9592]

yes he considers that debt

[@8rlx0]

The debt terms and interest rates are irrelevant, if shit happens and you get into a circumstances where you are unable to pay back the debt.

[@InvisageStudios]

Interest isn’t debt. Debt is leverage - AKA: risk. Interest is the cost of that leverage.

[@WaryofExtremes]

Dave has said he wouldn't take a billion dollar loan for a year at 0%....because he takes a fanatic stance as part of his brand, because he's mainly for people who aren't disciplined or logical with money. Meanwhile, a logical person would say 'of course' and put it in a high interest account and be ahead many millions by the end of the year even after paying back the billion. He also mocks the idea of saving or making money by using credit cards...even though some give 1% to 4% (or more) back on things like recurring utility bills, gas, groceries, etc. as well as other benefits. His brand is a fanatic one, to steer people away from temptation of overusing loans and credit cards.

[@jeehill9592]

@@WaryofExtremes i think the reason he steers away from debt is because its an avoidable risk in most cases and people always have great ideas but so many rarely follow through. As far as the credit cards he just doesnt seem to like to support a system that prays on people. I share a lot of the same thoughts as him but I use a cc instead of money for the tiny return. I also dont carry a balance on credit card EVER.

[@Allin55]

this kid thinks hes too smart. run rate lol, he knows all the fancy terms and thinks he is untouchable. 23 years old already taking about an exit of his parents business. wow

[@wahabdar6993]

You think you are too smart lol. It’s not only his parent’s company, he built it from the ground up ever since he was in high school when it started. 23 years old and probably has made more than you have made in the past 10 years. I know the guy personally and I can say one thing for sure he’s definitely smarter than you.

[@Allin55]

@@wahabdar6993 what a dumb thing to say when you don't know anything about me. lost all respect when he started talking about an "exit" on his fathers business.

[@Krospect]

@@Allin55 What a dumb comment to make when you know nothing about the guy or his business for that matter. Follow your own advice. Be better and stop hating. Don’t project your insecurities on others.

[@jeffreyrichardson]

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[@conservativepersonnel8458]

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