…until you hear this.
There is no question - paying off a mortgage early saves interest. But what will you be losing by paying off your mortgage early? It’s called Lost Opportunity. If you can simply earn 1.4% on the extra mortgage payments required to payoff a mortgage at 3.75% APR over 15 years rather than 30 years, then you can come out ahead of the interest you would save by making those extra payments. Just 1.4%. This return is completely possible with a basic guaranteed financial tool.
Considering all the facts in your situation, it might make sense to payoff a mortgage early, but please don’t make this decision before your hear the reasoning behind managing your money more effectively by NOT making extra payments. This could change the way you think about extra mortgage payments for the rest of your life.
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With low interest rates right now, does it make sense to make extra payments right now? This is an area of confusion for many, and it is often glossed over by the experts in finance.
Today on WealthTalks, Tom and John discuss making extra payments on a mortgage, and even using a HELOC to pay off the mortgage early.
Knowing the facts can save you a lot of money. Listen Now on Wealth Talks
Fun with Real Estate Presentation - Video: https://www.life-benefits.com/videos/fun-with-real-estate-by-tom-mcfie/
Real Estate prices have been fluctuating for years. Goaded by natural disasters, crime and political intrigue, real estate prices have been anything but stable. Seemingly “safe” properties are not immune, the arrival of a less than desirable neighbor, or the whim of some politician can change your home’s value drastically.
All told real estate seems a slippery surface on which to set your basket of eggs.
But what else can we do? Where else can we build equity today? Commercial Real Estate? A HELOC perhaps?
Join us on Wealth Talks and discover the answers to these questions.
How to best finance large ticket items like homes, real estate investments, college education and even cars to keep the most money in your pocket.
Insight on Real Estate Investing and The Perpetual Wealth Code™ with a “lump sum” of money versus an income stream. Discover why balancing life insurance with other investment opportunities is more important than trying to get the max $ into life insurance premiums immediately. Episode Resources: Podcast.Life-Benefits.com