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Paying off debt is a necessary step towards financial independence from "summary" of Playing with FIRE (Financial Independence Retire Early) by Scott Rieckens
Getting out of debt is a crucial part of achieving financial independence. It's like trying to swim with an anchor tied around your waist - you may be moving, but you're not getting very far. Debt can hold you back from reaching your goals and living the life you truly want. Paying off debt is not just about getting rid of what you owe; it's about freeing yourself from the burden that debt brings. When you're in debt, a large portion of your income goes towards paying off what you owe, leaving you with less money to save and invest in your future. This can trap you in a cycle of debt, where you're constantly struggling to keep up with payments and never able to get ahead. By paying off debt, you can break free from this cycle and ...
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