Two things the rich use which the poor fear: good debt and life insurance-Benjamin Zulu

There are three types of debt situations: no debt, meaning you don’t owe anybody’s money. Most people think this is the most secure position since it has no risks. But the problem with it is that you grow slowly since you have to accumulate funds on your own.
Bad debt: this is a burdensome borrowing for non investment reasons and it doesn’t leave you any further ahead than you were even after repaying it. It also carries the risk of personal losses through auctions in case of defaulting, not to mention the stress of remitting monthly and making sure you remain employed throughout the period of the loan.
Good debt: this is when you borrow for purposes of leveraging on other people’s money to create profit, instead of waiting for your own money to trickle in. You simply identify an investment opportunity that pays a higher profit than the loan interest and commit the loan there, so that the investment pays the loan and you retain the difference.
In other cases, the loan may be for a few years after which the asset will have appreciated to a higher value than the loan itself. You can then sell it and make more money. A good debt is an intelligent calculation to shoot a deer using a borrowed arrow and then giving the lender of the arrow a piece of the meat as their interest. Your job is to hunt for the deer and take a good aim while taking the shot. It involves a risk, but nearly all wealthy people have used good debt at one time or other.
Life insurance has many benefits, although people only know of death compensation. In many places you can take a loan against the savings even when you’re alive, and tax free. This provides a very rich source of capital while still achieving the larger goal of compensation in the event of death.