Why Paying Off Your Mortgage Is Costing You Decades: George Antone on The Wealthy Code

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Recorded27 Aug 2026

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Most of us were taught that owning things free and clear is the finish line. George Antone, author of The Wealthy Code, makes the case that this thinking is why so many people who earn good money never actually get wealthy. When you account for inflation, the money you park in a paid-off asset is quietly losing purchasing power every year. Debt, structured the right way, is the shield. Fred and I sat down with George for a book club conversation that covered the three dials of wealth building, why a 15-year mortgage can be the riskier loan, how a portfolio with over 100 properties can collapse in 18 months, and why the order you buy assets in can cost you decades. Key takeaways: Wealth building runs on three dials working together: leverage, spread, and reinvestment. The asset itself matters less than whether it meets the criteria for all three. Compare your cap rate to your loan constant, never to the interest rate. A cash-flowing property with a negative spread is still an inefficient use of your capital. Cash flow is not liquidity. Keep at least 10 percent of your portfolio liquid, plus three to six months of reserves, before you scale with debt. Sequence matters. Buying liquid, cash-producing assets first and letting them fund your real estate can be the difference between years and decades. If this conversation got you thinking about your own numbers, start with George's whiteboard exercise: write down every fear you have around debt, then ask what would offset each one. And if you're ready to build your business alongside agents who think this way, learn more about joining us at eXp at nextlevelagents.com/exp. Check out upcoming masterminds and events at nextlevelagents.com. Resources & Links: George Antone: fynanc.com The Wealthy Code by George Antone George's next book, Rigged, coming this fall

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