Drowning In Debt?

by Jeffery A. Keill CFP, CIM, FMA, FCSI

I love to walk along the beach. Soft wet sand under my bare feet and the waves creeping with a soothing cadence. Every now and then we will play in shallows by splashing around or throwing a football or frisbee. It is one of the greatest frolics in life although not without risk. Mother’s often will be heard telling their children to not go too far into the water.

I often use the beach as a good example of the effects on debt. Many of us can appreciate the freedom of running on the beach or splashing around the shallows. We even seen the romanticism of horses running along with the hooves splashing without care. This is what it is like to have a level of debt in your life that is easy to maneuver with. The lower the water level around our ankles the greater freedom of movement we enjoy. If we wade out a little bit to the point where the water reaches our knees we immediately feel the restriction of our nimbleness. It takes greater strength to run back to shore. If we continue to journey into deep water we will begin to loose touch of the bottom that gives us a feeling of security and dramatically reduces any ability to head to safety quickly. If we continue to float and swim in the depths of debt that remain above our head we will soon tire and falter. Drowning in debt is something that more often than not is a process of someone gradually getting into deep.

I encourage everyone to always be looking to the shore and ensure that you do not find yourself drifting out into a deep ocean of debt. Check out our most recent Brief Discussion Paper on the Art of Paying down Debt.

Last Edit Feb 3, 2025