When you have extra cash available it’s easy to think applying it directly to a large balance–like a mortgage–is a good idea.
But in most cases there’s a better use for that money, even if it is strategically used in a different way to help you accomplish the same goal.
Recently a client came to me with a plan to pay down his mortgage, and left our meeting with a different idea. Once you listen to this episode I think you’ll see why. And you’ll know whether a similar strategy is the right approach for you too.
Listen now!
Show highlights include:
- How refinancing your mortgage keeps you broke. ([1:41])
- Nelson Nash’s “interest secret.” Most people focus on the interest rate when they should be looking at this instead. ([2:03])
- Focused on paying off your house early? Here’s when it makes sense, and when it doesn’t. ([2:22])
- “Equity trap.” How paying down your mortgage to gain equity hamstrings your chance to build substantial wealth. ([4:35])
- Does it really help your finances to borrow from your whole life policy? Real-world example shows the stunning difference. ([9:09])
Reach out to me:
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
