Write You - Finance

Myth: Debt is a tool and should be used to help create prosperity.
Truth: Debt isn't used by wealthy people nearly as much as we are led to believe.

Debt is dumb. Most

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

normal people are just plain broke because they are in debt up to their eyeballs with no hope of help. If you're in debt, then you're a slave, in the sense that you do not have the freedom to use your money

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

to help change your family tree.

According to a recent USA Today article about debt, 78 percent of Baby Boomers have mortgage debt, 59 percent have credit card debt, and 56 percent have car pa

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

yments. It takes a lot of will, discipline, courage and help to slay the debt monster. But it can be done. Imagine how much you could put toward retirement if you just didn't have a stinking car payment? Th

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

is is how the wealthy really build their wealth. Debt is dumb. Welcome to the real world!

Dave Ramsey's Background
When training for my first career in real estate, I remember be

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ing told that debt was a tool. "Debt is like a fulcrumand lever," allowing us to lift what we otherwise could not. We can buy a home, a car, start a business, or go out to eat and not be bothered with havin

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

g to wait. I remember a finance professor telling us that debt was a two-edged sword which would cut for you like a tool but could also cut into you and bring harm.

The myth has been sold that we shou

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

ld use OPM (other people's money) to prosper. The academic garbage is spread really thick on this issue. We are told with sufficient snobbery and noses in the air that sophisticated and disciplined financie

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

rs use debt to their advantage. Careful there, you'll get a sunburn on your upper lip.

My contention is that debt brings on enough risk to offset any advantage that could be gained through leverage of

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

debt. Given time - a lifetime - risk will destroy the percieved returns purported by the myth-sayers. I once was a myth-sayer myself and could repeat the myths very convincingly. I was especially good with

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

the "debt is a tool" myth. I have even sold rental property that was losing money to investors by showing them, with very sophisticated internal rates of return, how they would actually make money.

B

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

oy, what a reach. I could spout the myth with enthusiasm, but life and God had some lessons to teach me. Only after losing everything I owned and finding myself bankrupt did I think that risk should be fact

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

ored in, even mathematically. It took my waking up in "intensive care" to realize how dumb and dangerous this myth is. Life hit me hard enough to get my attention and teach me.

According to Proverbs 2

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

2:7, "The rich rule over the poor and the borrower is slave to the lender" (NKJV). I was confronted with this scripture and had to make a conscious decision of who was right - my broke finance professor who

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

taught that debt is a tool, or God, who showed the obvious disdain for debt. Beverly Sills had it right when she said, "There is no shortcut to any place worth going."

The Debt Myth<

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

br> You have probably heard a lot of the sub-myths, which fall in line behind the big one that says "debt is a tool." Are you beginning to understand that debt is NOT a tool? This myth and all its little s

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ub-myths have been spread far and wide. Always keep in mind the idea that if you tell a lie often enough, loud enough, and long enough, the myth becomes accepted as a fact. Repetition, volume and longevity

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

will twist and turn a myth, a lie, into a commonly accepted way of doing things.

No more. Debt is not a tool; it is a method to make banks wealthy, not you. The borrower is truly servant to the lender

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

. Your largest wealth-building asset is your income. When you tie up your income, you lose. When you invest your income, you become wealthy and can do anything you want.

How much could you giv

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

e, save and spend every month if you had no payments? Your income is your greatest wealth-building tool, not debt. Your Total Money Makeover begins with a permanently changed view of the debt myths

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Author Marte Cliff believes that customers in every kind of business have a lifetime value. Internet marketers and bricks and mortar retailers alike will be more successful when they treat each customer as a valuable source of ongoing revenue.

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