Core Insights - The article contrasts the different approaches to debt between the middle class and the wealthy, highlighting that the wealthy often leverage debt as a tool for investment rather than consumption [1][2]. Group 1: Middle Class vs. Wealthy Debt - The middle class typically uses debt for consumption of depreciating assets such as cars and vacations, while 52% of consumers reported using credit cards for essential purchases like groceries [1]. - Wealthy individuals, in contrast, borrow against their assets to fund investments in appreciating assets like real estate and businesses, viewing debt as a means to enhance liquidity and defer taxes [2][4]. Group 2: Investment Strategies - A common strategy among the wealthy is to take loans against appreciated stocks or other assets instead of selling them, which helps avoid capital gains tax and maintains ownership stakes [3][4]. - The "Buy, Borrow, Die" strategy encapsulates how wealthy individuals manage their investments: they buy stocks, borrow against them for cash needs, and avoid capital gains tax upon death due to the "stepped-up basis" tax law [4][5].