How To Pay Off Your Mortgage Faster

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How does money really work? Is it good to pay your mortgages as soon as possible? Let's straighten out some common misconceptions in today's episode. Learn what they don't teach you in school, and I'm pretty sure a lot of financial advisers get this wrong too! Stay tuned!
To your abundance!
Doug Andrew
Key Moments In This Episode
========================
00:28 What I do for people
02:11 A short story
03:49 LASER Fund
05:20 You're not accomplishing anything because...
07:01 Would you do this?
09:48 The Parable of the Talents
What To Watch Next
========================
How Can I Become My Own Banker?
• How Can I Become My Ow...
Did you love this video?
Want to learn more wealth and life empowerment lessons from Doug?
Here are some next steps!
========================
How to Diversify and Create the Foundation for a Tax-Free Retirement
laserfund.com/
How to Lead Your Family/Business from “ME” to “WE”
entitlementabolitionbook.com/
Visit Doug Andrew’s website:
dougandrew.com/
Music
========================
Song: LiQWYD - Glow (Vlog No Copyright Music)
Music provided by Vlog No Copyright Music
Video Link: • LiQWYD - Glow (Vlog No...
========================
Video by Nate Woodbury
BeTheHeroStudios.com
/ natewoodbury
#DougAndrew
#3DimensionalWealth
#AbundantLiving

Опубликовано:

26 авг 2020

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Комментарии : 339

@missedfortune 8 месяцев назад

If you'd like to see the math for your situation, you can schedule a free consultation with a recommended specialist: 3dimensionalwealth.com/getstarted

@sfsfuzzy3597 6 месяцев назад

I can show you the math fjr all of it ! It’s a fraud it’s a scam !

@jeremywilde1140 3 месяца назад

This is not education. It’s a commercial.

@sfsfuzzy3597 3 месяца назад

@@jeremywilde1140 it’s a scam ! These bastards are liars and frauds and we are taking them out

@roopapriya7159 2 месяца назад

Now that itemization of tax is not getting benefits vs standard tax deduct on. All mortgage interest Property tax Expenses to supprtal rent .gets added to closer to standRd deduction

@dt6750 6 месяцев назад

i paid off my 30 years mortgage in 6 years by attacking the principle hard. after that i’ve been investing 60% of my net salary into my roth and stock accounts. i like to do thing the simple way!

@LuisZunigaPRI 6 месяцев назад

Yeah he'd have you buy an IUL

@micaiahmoore4191 4 месяца назад

Question, you have 60% in the stock market. Which is awesome! But how old are you and what happens to your account when (not if) the stock market corrects or crashes again? Is there any way for me to protect my nest egg from the downside?

@anthonyyaboytone5 3 месяца назад

I’m on year 3 and month 6 I got 26k to go before my house paid bout to do it in less than 5 years like you. Can’t wait!!

@SeriousSchitt 3 месяца назад

@@anthonyyaboytone5Really, how on earth do you do it??? How much was your mortgage to begin with?

@videosabia 15 дней назад

@@micaiahmoore4191By buying assets - the market is volatile and unpredictable (past results are not guaranteed). If you’re young enough to be able to absorb losses and crashes and you have the stomach for it, go forth. Otherwise, buy assets instead.

@rer1967 Год назад

So the suggestion is to not put more towards paying off your principal balance but instead invest that money towards a possible 3% higher earning fund which the current administration plans to impose a tax on unrealized money.. sounds like a lose lose situation. Think I'll continue chipping away at my principal balance while investing since I can write off most any investment losses.

@kylechristofferson349 9 месяцев назад

Definitely, get that mortgage down as soon as possible… this video is Mis-leading

@coelhocointech9841 9 месяцев назад

If you can do both, great… but make sure you max fund all your ira, 401k, Roth IRA first .. especially your Roth IRA, eventually the Roth IRA will easily make your mortgage, utilities, house maintenance, property taxes, insurance payments.. it’s the property taxes, insurance, replacement costs that are the problem long term and go up every year.. mortgage fixed stays the same

@jperkins1269 9 месяцев назад

Most people don’t understand the concept therefore they say it doesn’t work. All I would say is do some real research before you knock the strategy. It is not misleading. Numbers don’t lie.

@Getloose360 9 месяцев назад

@@coelhocointech9841have you seen the hit 401ks are taking in this current market?

@rer1967 9 месяцев назад

@@jperkins1269 , numbers are based on constants and in an economic environment where so much is uncertain it's usually best to follow your gut instinct.

@brianadams6204 Год назад

80% or more of people do not get a tax deduction from a mortgage unless they itemize which most people do do not do because the standard deduction is higher and you lose that when you itemize. So unless you have enough deductions it is not worth it. The standard deduction is somewhere around $26k

@jaywalk6628 9 месяцев назад

Bingo.

@Dreamer-by4nk 9 месяцев назад

Thankyou that was my first thought.

@sfsfuzzy3597 8 месяцев назад

The most they get is deduction for the interest

@kevn33 6 месяцев назад

I never itemize and only take the standard deduction, so you have peaked my interest. I assume you disagree with the gentleman who made the video?

@brianadams6204 6 месяцев назад

@@kevn33 correct

@kckuc310 Месяц назад

Worked for me, paid 2 houses off in 8 years instead of 15 by extra principal payments. Everyone never considers risk. Foreclosure happen all the time for people who don’t have their mortgage paid off and especially in bad times.

@1969MARKETING 6 месяцев назад

If you pay extra principal payments from the beginning of the loan you get the biggest savings.

@chrislayman538 4 месяца назад

If you start investing that money right at the beginning of the loan it has more time to compound.

@connorcaba2492 3 месяца назад

Correct because early on the total loan amount is higher and thus the amount you pay in interest is highest. Getting the loan amount down is the best way to lessen money lost on interest

@JERRYR708 3 месяца назад

Extra principal payments helped me pay off my 30-year loan in 17 years. Work bonuses, overtime, side hustles etc went to principal and not fancy cars or toys. Now I can buy the toys I really want..nah. I like my freedom from debt.

@missedfortune 3 месяца назад

Way to go! All I’m saying is that you could gave paid off your mortgage in 15 years-two years sooner-using my method.

@keithrichardson9127 9 месяцев назад

You guys pay off house ASAP. This guy is insane. Look at the unstable markets now and people getting laid off some living under the bridge.

@michaelbiasatti5016 Год назад

I've watched a lot of these guys but none of them ever mention that your actual interest rate on your mortgage isn't the 3% you think you're paying (look at the last page of your loan docs, that 3% loan is actually costing you 49% because of the way the mortgage company's front load the amortization). That $100,000 house will cost you $300,000 if you pay it off on schedule over 30 years, that's one house for you and 2 houses for the bank, not to mention that for every dollar you pay the bank they can loan out $9, look up fractional banking in America. It's never as simple as they make it seem. Watch those Velocity Banking videos, I don't do it, but the gist of it is to take max HELOC money out of your house and use that flat but variable interest money to pay off your amortized mortgage (in 5-7 years). I'm boring. I'm just putting extra toward principle as best I can. Pull up those loan docs to see what your loan is actually charging for the use of their money.

@ANieves3873 9 месяцев назад

Yeah the total cost of ownership. But to each their own. As long as people are living under their means, investing their money wisely and staying consistent everyone wins no matter what path they choose. Some ways may be more efficient than other ways depending on circumstances and someone’s comfort level so personal finance is personal and whatever works best for folks is what works best for them. The banks will make out either way as well. Either give them their money back faster or pay them more in the long term. They never lose either as long as they stay disciplined in how much and who they lend money to. Basically if everyone stays disciplined the system should work just fine. But everyone is always trying to sell something or one up on the game.

@AbelRamirezII 9 месяцев назад

ummm clearly you missed the part where that 3% is per year x 30 years.... vs (in his example) 6-10% per year x 30 years. If that same $100k house(your example) COSTS you 200% in interest... imagine that $100k EARNING you 400% or $400k.

@turnovertheleaf5505 Год назад

I would never leverage my family home for a possible 6% growth (9%- 3% mortgage interest). Taking the cash flow from NOT having a mortgage payment and aggressively investing is much more safer! There are several possibilities of risk you are not covering. I urge ppl to do some research on the differences. Just think, if your house was paid off, would you go take a loan on it for the possibility of earning 6-9% minus the interest you are paying them for the loan??!

@jaywalk6628 9 месяцев назад

correct, RISK is never mentioned by the youtube star. We own our home and are not going to mortgage it and be further exposed to the markets, which have done JACK for three years.

@chindomnic8828 9 месяцев назад

You can never have said it better.

@HighCountryRambler 9 месяцев назад

I have a 2.6% mortgage. I was sending double payments each month, then it dawned on me: I'm currently earning 12% on my IRA, I diverted extra money from my mortgage to the IRA. Didn't seem like rocket science.

@therealctoo4183 9 месяцев назад

@@HighCountryRambler What will you do if your IRA earnings drop to 2.5%? That's the risk they're talking about.

@HighCountryRambler 9 месяцев назад

@@therealctoo4183 Nothing... They have dropped to 2.5% and even negative, but always come back in huge ways in the rebound. Looking at the DOW over 30 yrs it's averaging close to 20% return. Since I no longer itemize it makes no sense to pay off my loan. I have the payments on auto pilot so don't even see them being made. But I do check my IRA regularly and balance asserts accordingly.

@kazemsharifan1372 9 месяцев назад

Acctuly I did extra every month toward my principle and paid my 30 years loan to 21 years.glad did it and feels good when you are not worries about that damn payment any more....

@YaBoyDC 9 месяцев назад

How much extra?

@sparkyman8249 6 месяцев назад

@@YaBoyDC when I did my 1st home (many many yrs ago) it was as little as $20 /mo to knock off 10 yrs of payments. Smaller loan then than now but still if you pay as little as $50 - 100 /mo you should be able to save about 10 yrs of payments to the bank. It all depends on the interest rate and amount of loan to begin with.

@thebadgerette69 9 месяцев назад

Just paid mine off this week and I sent extra principal payments.

@larrymorrow9373 8 месяцев назад

Im not buying it. Pay off your mortgage as quickly as you can!!!

@bayodaman Год назад

Good advice but rather pay it off faster. 30 yrs is a long time never know what could happen. Rather pay off my house in 10-13 and have my kids own it if anything ever happens

@davidrpriest Год назад

I took out a 30 year mortgage in 2020. I have a 2.375% rate. I will never prepay this. I am at about 1.5% after my mortgage interest deduction. That money I would spend paying it down is better invested almost anywhere. Even if I put it in a savings or money market, I do better. The advice in this video is solid. By the way, I own a mortgage company so I have run this math many times.

@bobcloughjr Год назад

Even after all that rambling you’re still completely wrong.

@g-code3048 Год назад

@@bobcloughjr😂

@raylopez9153 Год назад

😂

@maplenook 9 месяцев назад

Read The Great Taking

@KTM_Atlanta 9 месяцев назад

@@bobcloughjr😀😀

@TheGav0071 6 месяцев назад

You are still borrowing money to pay off other borrowed money (Mortgage). Yr premise is that you think you are not going into anymore debt....but you are, by vast amounts. So you may indeed pay off your mortgage but you will still be in debt! yr just moving the debt around, you are not going to be debt free anytime sooner. You pay off your mortgage sooner by working more jobs, earning more $$$ and putting it into the principal!!

@BobSmith-eq9vs 9 месяцев назад

Most people don’t pay enough yearly interest on their mortgage to itemize and see any tax savings over the standard deduction.

@OB928 8 месяцев назад

One LARGE variable missing from your equation - risk.

@douglaschester2097 Месяц назад

“This is how I got rich”

@douglaschester2097 Месяц назад

researvh this in fuII, if you care. FinanciaI-Advisor REBECCA MARTIN WATSON

@douglaschester2097 Месяц назад

researvh this in fuII, if you care. FinanciaI-Advisor REBECCA MARTIN WATSON

@douglaschester2097 22 дня назад

FinanciaI-PIanner Rebecca Mart-Watson (in fuII).

@billstapleton1084 5 месяцев назад

I bought my House in Nov 2009. I paid it off in March 2021. I doubled the principle each month. As I do not itemize on my tax return, the house did me no good for taxes. Now my rental properties give me great tax write offs.

@norfolknchance657 3 месяца назад

It's 'Principal' not principle so what do you know if you can't even spell?

@billstapleton1084 3 месяца назад

I know the Liberal run school system failed me as it has failed so many others.@@norfolknchance657

@MRegoloveJar 8 месяцев назад

what if the amount of the yearly interest is not higher than the standard tax deduction? so you can't claim it on your taxes. 350K mortgage at 2.5% interest (2.5*2)*10, you'll pay ~50% interest in 30 years, basically 175K just in interest. If you lower the principal you're also lowering the amount of interest you pay.

@rosaliethomson4655 Год назад

Also, way easier to pay off in the beginning. Took out a mortgage in 2017. The length is supposed to be 2032, however, I'm looking at 7 years from now which is 2030. Hard to do extra when the principal payment is high. After all, you a paying a percent of what is owed. If you knock off $10,000.00 which I have, 2 years are gone. Not sure why they don't consider this as part of the thing. Also, interest rates have sucked for 20 years - only recently going up. Now money in the bank is better than a low interest rate. Now I''m getting more than the 3. whatever and that is not going to last long so I've taken out 5 year CDSs. Also, this is a great time to buy stocks for dividends as many good stocks are down.

@JasonLee-fc2ot 9 месяцев назад

Unfortunately, TurboTax says mortgage interest deduction won't count due to the standard deduction being more advantageous (and the mortgage interest deduction being under the shared cap of $10k as state taxes). So I don't think this is relevant anymore, since Doug keeps on saying mortgage interest is deductible, and that is the crux of his argument, on why keeping it around.

@svenoliver6040 Месяц назад

“You won’t believe how I got rich”

@svenoliver6040 Месяц назад

researvh this in fuII, if you care.

@svenoliver6040 Месяц назад

FinanciaI-Advisor REBECCA MARTIN WATSON

@FunnyVideos-nn5qb Год назад

You are talking about a specific mortgage market where mortgage payments influence your tax rate. Not every where it works like that. You should give some number based examples rather than generic talk. If you use any amortisation calculator, you'll realise a $100 voluntary payment can make a heck of a difference if you've small mortgage.

@Citizen-pg8eu 6 месяцев назад

The standard deduction is so high now that we get zero deductions for the interest we pay. How does that impact your numbers?

@bpmattic9648 2 года назад

You inspired me to do the math in a little spreadsheet. Even without any compound interest earning, I would build up the ability to pay off my house within a couple months of when it would happen by keeping my mortgage as-is. Laser fund is just double bonus liquidity.

@undercat7767 Год назад

But doesn't that mean you obligate yourself to put in a minimum amount each month? Whereas with making extra principal payments, a person who is not so well off can make extra payments only when it isn't painful

@navymed3 8 дней назад

This guy has sleazy salesman vibes and the content of the video tracks

@rusticrangebear372 6 месяцев назад

oh i see. but the financial system is not setup for normal people to walk away with the assets

@gregwood7120 3 года назад

hi doug,im from canada...who would you recommend i learn from ?

@eBargainsToday 29 дней назад

Hi Doug, is there an equivalent in your mind for the LASER Fund for Canadians? Thank you in advance.

@brianadams6204 Год назад

If I take a 15yr fixed mortgage out and make 2 payments a month 1 regular and 1 principal only payment would that work to?

@alipainting 3 месяца назад

Thanks, I was curious about this question.

@aldukes 6 месяцев назад

Why does it take every RU-vidr forever to get to their point?

@Fred2-123 4 месяца назад

He did not only babble saying nothing, but he is pushing some garbage "investment".

@cgmckeever 4 месяца назад

because youtube pays by the eyeball time spent on the video

@gordeady6802 6 месяцев назад

Doug in Canada we don’t get an income deduction on our mortgages does this advice still hold?

@ShaneTheGeek 8 месяцев назад

All I needed to hear was insurance fund/IUL and like Barbara on Shark Tank I’m out 👻

@wanderlust7020 6 месяцев назад

The State And Local Tax (SALT) cap of $10,000 already screws me from exceeding the standard deduction.

@TopVillain Год назад

Thanks for this it really changed my whole prospective instead of making extra mortgage payments I’m going to put that extra money towards my retirement account where my company matches. So my 500 will actually be 1000 and another 500 in a Roth

@mullboll33 9 месяцев назад

No, pay off your mortgage than you can invest double or triple

@TopVillain 9 месяцев назад

@@mullboll33 no that’s not realist and it will take me still over 10 years

@tinamoore5026 8 месяцев назад

So when the economy tanks you still have your mortgage to pay.

@mullboll33 8 месяцев назад

@@tinamoore5026 and house leveraged against the debt lmao people believe ANYTHING random RU-vidrs say

@simmons6014 6 месяцев назад

But you pay more taxes on 401 when you withdraw because you put more in.

@sheneathahollowell2750 Месяц назад

This makes sense. I need to get the discipline to do this

@gerrygreen3535 9 месяцев назад

Funny, I just put $100K on our mortgage and Walsh! The payments went down by $600/month

@2Greenlid 9 месяцев назад

Payments don’t go down unless you only had 100K left! If only 100K then you should have invested…a small mortgage is not dangerous

@NunoPatron 9 месяцев назад

If you put $100k towards your mortgage and pay off 20% of the loan, you get rid of your PMI. Your mortgage payment definitely will drop.

@davysmith8569 7 месяцев назад

smoking some good green i see. Yeah payments will be the same, doesnt change .

@LemonySnicket-EUC 4 месяца назад

I paid my house off long ago but the insurance and taxes never ends.

@LuxuryMoment46 Год назад

So we have to buy the book In order learn what kind of account he is talking about

@linkcarrier4309 5 месяцев назад

He is talking IUL . Google IUL

@bigal3248 9 месяцев назад

Never heard this method before! Going to setup my LASER fund now

@Dahmer_Jeff Год назад

When does the video start

@wuzgoanon9373 6 месяцев назад

These days Im pleased enough if I can make the motgage payment on the due date.

@user-th9vq1mi9s Год назад

I can do both most people use the standard deduction and therefore the tax deduction is not apart of the calculation so I assume you must be richer than Dave Ramsey because your smarter than everybody

@MrGorgefla 6 месяцев назад

Wonderful

@janetingacollins6409 6 месяцев назад

The best decision is based on your current mortgage interest rate and the possible earnings from investments.

@SeriousSchitt 3 месяца назад

Absolutely. 8.5% mortgage interest rate, around 5% investment earnings… for me, it’s a no brainer!

@Livesinashack 3 месяца назад

The lender certainly benefits from this approach

@cybersedan 6 месяцев назад

I stumbled across this video and do glad I did. I've never seen anybody so clearly and precisely show why it's better to not pay off mortgage by making extra payments.

@teekay_1 6 месяцев назад

He didn't actually explain it though. It was "you get this investment here, you put it in this pocket" and "then you have your mortgage over here in this pocket" and then "and I can pay the mortgage off at any time, but why would I? This pocket has waaaay more money". It reminds me of when the car dealer does the four-square thing with the trade-in value of your car, the payment you'll have, and other mumbo jumbo to avoid give you exact numbers.

@NeoKailthas 3 года назад

I was starting to reach the same conclusions but you put together well. Thanks for sharing.

@missedfortune 3 года назад

Glad it was helpful!

@samspraguefinanceformula3519 3 года назад

Interesting

@BoDean52 9 месяцев назад

“Allow me the opportunity to buy your book”, 😳. Enjoyed the video even after hearing that

@neetudhanda48 3 года назад

Hello Doug, Can you explain this with examples and numbers please. Thank you!

@factsoverfeelings9492 3 года назад

Won't be able to that would unmask the truth. Cause investment are always volitional while your principal payment is in stone that won't flatuate.

@Ynalaw 9 месяцев назад

I provide massages to strange men in return for money. This is really helping pay my debts.

@trentjessee 3 года назад

Fantastic Doug! Great video.

@missedfortune 3 года назад

Thank you kindly!

@ClarisNdoroRealEstate Год назад

Amazing has always been a pro for real estate but today I under how to do it better.

@jeffreycousins7704 9 месяцев назад

He isblowing smoke.His logic is not feasible for most people.

@MH-hc7xq 9 месяцев назад

What was the name of that calculator again? Willy Wonkas magical lator or calc?

@gsardiello 3 года назад

Great information. Thank you!!!

@missedfortune 3 года назад

Glad it was helpful!

@lazarodiazhernandez8216 3 года назад

Hello Mr. Andrew , I’m a life insurance agent , and I already bought your book , but I’m my agency they keep telling me that in IULs you are break even in like 10 years , what should I do ?

@missedfortune 3 года назад

I am getting ready to announce and release my training for agents on how to do this the right way and get the right results! Stay tuned and join the training!

@everlindadionio3514 3 года назад

@@missedfortune I'm in

@maxsmart8954 9 месяцев назад

Real Estate mortgage interest is one only remaining tax right offs

@gerrygreen3535 9 месяцев назад

He might have better luck selling ice to Eskimos!

@TishMclain 8 месяцев назад

😂

@sifisocmyeni1742 5 месяцев назад

How is extra money in equity dead money? Isn't it canceling interest the borrower would have had to pay? In effect it earns interest at the mortgage interest rate - or am I missing something?

@missedfortune 5 месяцев назад

Understand the difference between opportunity cost (what you could be earning in compound interest tax-free on that equity) which is usually double to triple the rate of the deductible “employment cost” you will incur when borrowing. You will either incur employment cost (the cost of borrowing money at a lower rate like banks do) and earning a higher rate -OR- you will incur opportunity cost. I choose to incur a lower employment cost in order to earn a higher return to avoid lost opportunity. For every $100,000 of real estate equity, if I borrow at 6.5% and only earn 8.5% I’ll accumulate an extra $1,300,000 over a 30-year period. Do the math.

@SeriousSchitt 3 месяца назад

@@missedfortuneI mean what, what you’re saying is correct, but how do you borrow at 6.5% and earn 8.5%? My mortgage interest rate is currently 8.5%, with the likelihood of it rising even further in the near future, and the interest I can earn, even in my superannuation is, at best 6.5%. So the math here’s just not stacking up, and I quit my 401k (or New Zealand’s equivalent of it) voluntary contributions in favour of paying off my mortgage quicker, because of it!

@PabloH 9 месяцев назад

it really makes sense! thank you

@foodtaxi9244 6 месяцев назад

Your math may work for those in higher tax bracket and at higher mortgage interest rate; however, my low, low mortgage interest rate and low tax bracket doesn’t work too well with your verbiage. Apparently, your verbal video fell into my feed randomly.

@ginger6582 6 месяцев назад

Maybe, maybe not. Make sure you mortgage policy allows it. I paid 50 dollars extra monthly on the principal. It helps.

@jjpierce6032 9 месяцев назад

What I do is use my ZERO % Ccards and borrow the 5-10k for the 12-18 month zero % time. I’ve done it twice and it worked out perfect.

@thearmy88ify 9 месяцев назад

There are only so many credit cards with 0 interest and it’s only one time when you open card. How do you keep it going long term?

@DavidSmith3750 6 месяцев назад

There’s a 3% service fee. At the beginning you failed to mention

@jjpierce6032 6 месяцев назад

Yes and 3% is cheaper than 6% plus hands down 90% of the mtg payments is all Interest

@dedsdidgdn 6 месяцев назад

Service fees for transfers are now around 5% with some banks

@keithcooper129 2 месяца назад

I would love to see Doug net worth vs Dave net worth

@realisticalsexysherylhones1206 2 года назад

Hi Doug, Thank you for sharing your information...my question...is this not offered in Canada? Where can I find a system such as your, therefore I can start compounding my money and not have the bank use me anymore. What is the method you would recommend for me in Canada?

@seanroger6954 4 месяца назад

Great content as usual, I loved this as I am about to invest in uk property with 70k deposit (plus fees and more savings for furnishing and decorating) to buy my own place, but I am also treating it as my fourth investment, having two spare rooms for lodgers to cover this property mortgage and tax costs... and to build my equity whilst working my day job for my next investment.

@michaellucchesi354 3 года назад

How do you put money in the laser fund

@missedfortune 3 года назад

You need to have one custom structured for you. Start by talking to an IUL specialist. you can request an introduction here if needed: 3dimensionalwealth.com/getstarted/

@rprevolv 6 месяцев назад

Pay for the book😂😂😂

@Thumpur69 Год назад

I get what you are saying but I don't have 30 years to build that wealth.

@TishMclain 8 месяцев назад

Amen me either!!

@kevn33 6 месяцев назад

This seems more like an advertisement, so it's hard to believe anything you say. So I will be doing my own research over the next few months and come up with the best solution for my own situation.

@Ynalaw 9 месяцев назад

What's a mor-geej?

@bforman1300 6 месяцев назад

Thank you!

@juliorodriguez8891 Год назад

One of the best video of payoff mortgage fast on all RU-vid plataform. Thanks man !!

@porousdumasia3256 Год назад

Most banks wont let you do Interest only mortgages. Or at the most for 5 yrs and if its your own home then possibly 2 years at the max. This is the situation in NZ.

@missedfortune Год назад

Sure, that's common. You sometimes have to be creative with who you work with to get them, and yes they are rarer than they used to be.

@DavidParent3044 7 месяцев назад

What type of account pays you tax free gains ?

@missedfortune 7 месяцев назад

IUL LASER Fund. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-ReXr-uMY3k0.html

@divyapari9164 8 месяцев назад

This makes sense. Thank you for this video!

@missedfortune 8 месяцев назад

You are welcome!

@lorimogan4983 9 месяцев назад

Why payoff your mortgage if your tax equivalent interest is 1.0%

@demonslayer8085 8 месяцев назад

Excellent video! Subscribed!

@missedfortune 8 месяцев назад

Awesome, thank you!

@Faji9r 5 месяцев назад

Money

@sirsmalls4565 2 года назад

Had to rewind a couple of times but I finally think I understand lol…thanks for the information!

@missedfortune 2 года назад

You're welcome! Glad it helped!

@flyfishjunkie6622 2 года назад

You talk too much. Get to the point.

@lot5953 Год назад

Yes

@raylopez9153 Год назад

😂yes

@mariakristinahawl1640 6 месяцев назад

In this economy, go against the ill advice of this video. Always, ALWAYS pay extra on principal, no matter if you invest in something else to pay the house off faster.

@Frannieville 3 месяца назад

Take the tax hit on the 401K and pay off the house if you have the funds to do it. Tax hit isn’t going to cost you as much as interest over the years.

@sustainablelife1st 6 месяцев назад

you gotta live somewhere. your home is not an investment. But I always take the longest mortgage possible to allow for flexibility.

@SeriousSchitt 3 месяца назад

Absolutely, BUT ‘DO’ pay your mortgage off faster if you can.

@kylechristofferson349 9 месяцев назад

Nope! You’ll save more in interest by getting your mortgage paid off sooner. The proof is in the pudding! I’d like to see actual numbers on your math

@simplelifeforyou5086 10 месяцев назад

Damn this is some good shit Sir. Thank you

@hubster4477 5 месяцев назад

Excelt when life happens, banks get bailed out, people lose their homes.

3 месяца назад

does this work with a 7% interest rate?

@missedfortune 2 месяца назад

You can schedule a free consultation with one of our specialists and they can answer your questions and help you: 3dimensionalwealth.com/getstarted/

@denniskingmoney Месяц назад

Omg 7% interest????

@cryopunch 3 месяца назад

Does this financial principal style apply? Should I order this book? Have the tax laws changed?

@missedfortune 2 месяца назад

Our clients are finding success. You can order the book at www.laserfund.com and meet with one of our specialists for a free consultation here: 3dimensionalwealth.com/getstarted/

@omarschez4706 5 дней назад

Don’t kid yourselves what he is talking about is ok if you were using in the laser fund the same amount as your mortgagte

@nicklockard 3 месяца назад

My hybrid path: pay extra principal aggressively until you have 20% equity, then slow down and put the same money in the SP500 or index funds.

@tonysmith7863 3 месяца назад

Paying 3-4 times the actual amount is not offest by tax savings. You can't be for real.

@yosoytercio245 9 месяцев назад

👍🏼

@Mumsgardenoasis Год назад

if one's interest rate is less than prime/inflation - having a mortgage isn't a bad thing. for example - my interest is 3.5%. mortgages are STARTING 6%. BINGO! of course - you have to be sure you can pay the mortgage.