{"href":"https://api.simplecast.com/oembed?url=https%3A%2F%2Fthe-financial-griot.simplecast.com%2Fepisodes%2Fdebt-free-and-fire-XNO_IOHb","width":444,"version":"1.0","type":"rich","title":"Debt is not necessarily Bad and Being #Debtfree is not FIRE","thumbnail_width":300,"thumbnail_url":"https://image.simplecastcdn.com/images/f1153873-62ec-4510-9061-59955f708555/7b39af64-c2fd-44dd-9480-562bffef5273/241430874-351300910058126-6266172948281418481-n.jpg","thumbnail_height":300,"provider_url":"https://simplecast.com","provider_name":"Simplecast","html":"<iframe src=\"https://player.simplecast.com/8546a066-a1ec-4ab1-9011-d3995d7b963e\" height=\"200\" width=\"100%\" title=\"Debt is not necessarily Bad and Being #Debtfree is not FIRE\" frameborder=\"0\" scrolling=\"no\"></iframe>","height":200,"description":"In this episode, Lovely and Lawrence talk about the growth of the #DebtFreedomJourney and how it's not always as great as it seems. Popularized by Dave Ramsey in the 2000s, Debt Freedom and #FinancialPeaceUniversity have been re-positioned as an emotional argument when in truth, money management is at the intersection of arithmetics and critical thinking. For example, local bank savings account is still going for 0.01%. An investment of $10,000 in 2021 would have yielded $1. In contrast, an investment of $10,000 in Bank of America $BAC would have yielded $14,881. An investment in JP Morgan Chase $JPM of $10,000 would now be worth $12,811. An investment in American Express $AXP of $10,000 would be $12,743. \n\nThere is a huge difference from those numbers versus earning $1. Financial Literacy is the real path of wealth. We have to understand how to grow our money wisely."}