confession: I'm a multi-millionaire. I also have over $1 million of debt.

I'm a multi-millionaire. I also have over $1 million of debt. That might shock you to hear, but when I purchased my house about a year ago, I did not pay for my house in cash. I could have paid for my house in cash, but it was a strategic decision not to. Because fun fact, debt if you're broke and poor. Debt is called leverage if you're rich. It gets a full rebrand when you are rich. And let me talk to you about why I took out a mortgage instead of paying for cash. So mortgage rates at the time of buying were about 7%, which are high. That's a very high mortgage rate. But on average in the stock market, we have made 10% or more over the past 30-ish years in the S&P 500. The S&P 500 being the five biggest 500 biggest companies in the U.S. stock market. So my logic is, I can tie up multi-millions of dollars in cash by taking my cash and paying and yes, then I don't have any of those things. But it actually makes more sense for me to take out the mortgage to take on debt to borrow money so that instead my money can be making me 3% or more more money over here in the stock market. Cheaper for me to go into debt, to actually take out that money and pay in cash. So debt and same thing.