#024 freestyle discussion on Debt and Beggars

Ray and Nigel enter into a thrilling and thought-provoking discussion about the morality of debt, beggars and wealth creators. Get inspired by this freestyle episode of The How to Raise Money Podcast. To answer the question; Do you feel bad about getting people into debt? Ray and Nigel explore the realities of both good debt and bad debt and how investors and capitalists (while not perfect) generate finance, cashflowing assets, and job opportunities by following the wealth formula. The word debt describes a whole myriad of words and brings about a host of problems both morally and physically, but in truth debt, begging and raising money is all about mindset. Creating wealth, being in control and becoming a custodian of money is all about the attitude you have and is usually taught by observing the person ahead of you. Investors by definition are making money, so they’re doing something right. Governments hemorrhage money and their only solution to generating money are to increase the tax burden.   Tune in to this enthralling episode of The How To Raise Money Podcast to find out more. KEY TAKEAWAYS Good debt is you are purchasing assets that will appreciate in value and generate a cash flow Bad debt is consumer debt, assets that diminish in value Ray, Nigel and the How to Raise Money community aim to create good debt and find investors that can help create cashflow, jobs and appreciating assets. Capitalism is so far the best that we’ve got. Socialism works if there are enough capitalist to pay for it, because someone needs to create jobs and create wealth. Governments don’t produce anything and money has to come from somewhere, it comes from the wealth formula. Creating a product or service that consumers what to buy and therefore a tax is paid. There’s a difference in theory and practice, wealth creators go out there and do it, they create wealth. It’s a mindset business and in reality, the best way to serve those in need and those in debt is to approach the welfare problem one person at a time. Investors, whales, angels, and dragons generally all set up a foundation or fund to help others, it’s a more direct way to giving back. BEST MOMENTS “A lot of people are against the capitalist route, but is there a chance for philanthropy further down the line?” “All the government services are consumer services, they don’t produce anything.” “It’s in the doing that you will find the magic, it’s in the doing that you will make the money. Not in the theory of it.” “In theory, Socialism sounds fantastic, but you then get into the issue of freeloading” “Desperation costs money” VALUABLE RESOURCES https://www.angelsden.com/en-gb/events/ Zig Ziglar - “If you took all the money in the world and distributed it evenly among everyone in the world it would eventually end up back in the hands of those that had it originally.” Robert G. Allen - The Challenge ABOUT THE HOST Ray McLennan is a keynote public speaker and former corporate solicitor who has many years of experience owning and operating a variety of businesses in the UK and Ireland. Ray is the Regional Manager for Scotland & Ireland for Angels Den, which has over 13,500 high net worth Angel investors that help to find funding for property and SME businesses. Ray also helped to create Property Angels Den (PAD) in Sept 2014, which matches High Net Worth Investors with property proposals of all sizes. PAD now meets regularly and has funded dozens of property projects all over the UK. Nigel trained as an accountant but has for the last 11 years run the family care business. With a 7 figure turn-over and over 100 employees, the role has given Nigel quite a few valuable lessons! Nigel and his wife, have focused more and more on property over the last few years. The latest project is a 20 bed HMO with 12 SA rooms. But in the last few years Nigel is now helping property professionals understand that social media is a way to increase your cus