Anderson adds a caveat: Although debt is an effective way for the rich to pay for things, it’s inadvisable for mass-affluent consumers to take out lines of credit to buy the dream houses, dream weddings, dream kitchens and dream vacations Rachleff mentions in his blog post until they can truly afford them.

Think of debt as your Uncle Bill. We should learn to love Uncle Bill. He has some great qualities. With the right amount of time, we’d want him around more. To help you get there, let’s address some of the greatest myths about debt and see why the alternative might be worth thinking about.

Why is this book great? Because it makes you wealthier. How can you finance a $100,000 Tesla for $250 per month? (note: that is cheaper than a Camry). Anderson explains how, by using an asset-backed loan (a loan backed by your investment account), you can borrow money at 3% (and some of my clients can borrow at 2%).

“A lot of baby boomers aren’t on track for retirement, and rushing to pay off a mortgage could be problematic for a lot of them,” said Thomas J. Anderson, author of “The Value of Debt in Retirement.” Instead, “having a portfolio of cash and conservative, globally diversified investments gives you liquidity and flexibility,” he said.

Controversial but nonetheless persuasive, Thomas J. Anderson’s book The Value of Debt in Retirement warns readers that debt, even the “enriching” variety, is not for everybody. But if you can handle the emotional and financial challenges of later-in-life debt, he says there is a way to “borrow smart” to increase your portfolio and liquidity — and your tax deductions.

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