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Financial expert ANSWERS: Should you pay off your debt NOW?

The Glenn Beck Program

Carol Roth, financial expert and author of “You Will Own Nothing,” is a wealth of information on the current situation we’re facing in America.

Glenn Beck sat down with her to ask her just what the American people need to know in order to make their own informed decisions as the dollar weakens, inflation rises, and the government rolls out Fedcoin.

First, they agree that it’s important to get any grief out now.

“You are going to go through grief as we lose some of the things that we have always traditionally known. It’s better to do it now than it is when the time comes,” Glen warns.

Roth agrees, adding, “We may not be able to stop the train from going off the tracks, but I can personally take shelter. That’s what you have to do; you cannot panic here. You have to prepare and say, ‘What is it I can do? I might not be able to, you know, stop the new financial world order, right, that’s a huge tall order — but what can I do in my life to make myself more secure?”

One of the questions Roth is asked is whether or not Americans should be paying off their debts.

Roth answers, “People sometimes don’t differentiate between debt that is used for spending and debt that is used for investing. There’s good debt and bad debt. You don’t want to be taking on debt for your spending, but you want to be able to use it productively for an investment.”

But what happens to debt if it all goes south?

Roth says that “if the dollar loses purchasing power, it’s actually good for your fixed-rate debt,” because then your “debt is really in a sense worth half as much as it was today in the future.”

She reminds Glenn’s listeners that she’s not a financial adviser and it’s not financial advice — but all this is just “things to think through.”

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