From Debt to Building Wealth: The Secrets Banks Don't Want You To Know

[Wealth on Your Terms Podcast with Tobi Adekeye] In this episode, I sat down with Mo Rafi, a former banker who worked across four major Canadian banks: Scotia, TD, RBC and CIBC and managed over $40M in assets for wealthy clients. We talk about what working inside the banking system taught him about how money and wealth really work, why he believes the banking system is designed to keep people financially dependent, and what wealthy clients were doing differently to build their fortunes. We also break down how to negotiate better rates with your bank, escape high-interest debt, use debt strategically to build wealth, rethink home ownership, prepare financially before leaving a 9–5, and why the traditional formula for building wealth may no longer work in today’s economy. 🎙️ About Wealth on Your Terms Wealth on Your Terms is about building wealth, freedom, and impact; in ways that actually work for your life. Through unfiltered conversations with builders, unconventional thinkers and investors, we break down the real playbooks behind modern wealth building and freedom living. Hosted by Tobi Adekeye. work for your life. Through unfiltered conversations with builders, unconventional thinkers and investors, we break down the real playbooks behind modern wealth building and freedom living. Hosted by Tobi Adekeye. 📧 For partnerships and business inquiries: tobimgt@gmail.com 📲 Follow us on Instagram: wealthonyourtermshub Subscribe & tap the 🔔 so you don't miss the next episode. To allow us post more episodes, Hit the like button to support this podcast and Write a review and Rate us 5-stars on Spotify and Apple Podcasts 🔗 Listen on Your Favourite Platform Spotify: https://open.spotify.com/show/1XfWOhF... Apple Podcasts: https://podcasts.apple.com/ca/podcast... Watch more episodes:    • Wealth on Your Terms   🏡For real estate inquires, I'm Tobi Adekeye. I'm a licensed realtor under On The Block Realty, Brokerage – Vaughan, Ontario Connect with me: https://forms.gle/pKZkRfnnGqvKsPks6 Follow my real estate page: @tobi.realestate ✨ Connect with me, Tobi: 📷 Instagram:   / tobi.adekeye   🎥 Tiktok: https://www.tiktok.com/@tobiadekeye_?... 👩🏾‍💻 LinkedIn:   / tobiadekeye   🗞️ Newsletter: https://tobiderin.substack.com 📲 Connect With Mo Rafi 📷 Instagram:   / raficredit.ca   👩🏾‍💻 LinkedIn:   / morafi   Website: https://raficredit.ca/ Connect with Mo through his social platforms and website. 📌 Timestamps 00:00 – The Banking System Is Designed to Keep You a Slave; Here’s How to Beat It 12:19 – How to Calculate Your Runway Before Quitting Your Job 15:51 – Saving Your Money Isn’t Enough to Build Wealth 19:18 – How to Use Debt to Build Wealth Without Losing Control 28:47 – How to Get Your Credit Card Interest Rate Down 35:37 – How to Build Your Internal Credit Score 39:48 – How He Used a Line of Credit to Buy a Condo 47:05 – What Should You Do When the Economy Is Struggling? 51:36 – The Most Important Financial Move You Can Make Right Now 54:38 – How Job Hopping Can Help You Increase Your Income Episode 24 ⚠️ Disclaimer This content is for education and entertainment only and is not financial or business advice. Do your own research and consider speaking with a licensed professional.