Building Financial Strength in LEO Families: Debt


In part 3 of his video series, Nick Daugherty briefly discusses the topic of debt.  This is a major problem in our country, and our profession certainly contributes to this problem.  By understanding what debt does, we can hope to make better decisions moving forward.  Rather than paying interest, we should be investing in retirement funds that will earn us interest for the rest of our lives.

If you would like to discuss your personal situation, please contact the Employee Wellness Unit.  We would love to offer you some resources, help teach you how to set a budget, and develop  a plan for reducing debt.  We all will retire before we know it, and by getting our personal finances in order soon, we can focus on living the retirement dream that we all have earned and deserve.

The Employee Wellness Unit has several copies of Dave Ramsey’s Total Money Makever, which covers many of the issues discussed by Nick Daugherty.  If you’d like to borrow a copy, please contact us.

“If you have not debt and ten dollars in your pocket, you have a greater net worth than 1 out of 4 Americans.”

Check out this quick video of part 3 for more information:

See the other parts of this series at the below links:

Part 1: Intro and Budgeting

Part 2: Will and Estate Planning

Nick Daugherty is a retired Sergeant from the Grand Prairie, Texas PD and has taught thousands of officers how to build financial strength by living a debt-free lifestyle and building wealth through proper savings and retirement planning. He’s also coached hundreds of families on how to get out of debt and navigate financial crises. He additionally manages retirement assets for numerous first responders, from line police and fire personnel all the way up to numerous police and fire chiefs. Contact Nick Daugherty or follow him on Facebook and Twitter.