How To Pay Off Your Mortgage Faster
Рет қаралды 931,530
3 жыл бұрынHow 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
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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!
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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
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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
@missedfortune 10 ай бұрын
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 8 ай бұрын
I can show you the math fjr all of it ! It’s a fraud it’s a scam !
@jeremywilde1140 5 ай бұрын
This is not education. It’s a commercial.
@sfsfuzzy3597 5 ай бұрын
@@jeremywilde1140 it’s a scam ! These bastards are liars and frauds and we are taking them out
@roopapriya7159 4 ай бұрын
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 8 ай бұрын
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 8 ай бұрын
Yeah he'd have you buy an IUL
@micaiahmoore4191 5 ай бұрын
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 5 ай бұрын
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 5 ай бұрын
@@anthonyyaboytone5Really, how on earth do you do it??? How much was your mortgage to begin with?
@videosabia 2 ай бұрын
@@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.
@JERRYR708 4 ай бұрын
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 4 ай бұрын
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.
@kckuc310 3 ай бұрын
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.
@fredrickpratcher6152 Ай бұрын
So you payed extra principal payments how often and did it come down faster at the beginning of acquiring your home?
@missedfortune Ай бұрын
Fantastic! Thanks for sharing!
@brianadams6204 Жыл бұрын
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 10 ай бұрын
Bingo.
@Dreamer-by4nk 10 ай бұрын
Thankyou that was my first thought.
@sfsfuzzy3597 9 ай бұрын
The most they get is deduction for the interest
@kevn33 8 ай бұрын
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 8 ай бұрын
@@kevn33 correct
@1969MARKETING 8 ай бұрын
If you pay extra principal payments from the beginning of the loan you get the biggest savings.
@chrislayman538 6 ай бұрын
If you start investing that money right at the beginning of the loan it has more time to compound.
@connorcaba2492 5 ай бұрын
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
@user-ot7ln4fy7y 15 күн бұрын
This is true! The credit union helped me set it up. I will pay off in less than half the time.😁
@rer1967 Жыл бұрын
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 10 ай бұрын
Definitely, get that mortgage down as soon as possible… this video is Mis-leading
@coelhocointech9841 10 ай бұрын
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 10 ай бұрын
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 10 ай бұрын
@@coelhocointech9841have you seen the hit 401ks are taking in this current market?
@rer1967 10 ай бұрын
@@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.
@Drizimar1 28 күн бұрын
Paying off your mortgage early and reinvesting that mortgage $ (including the little extra) is the only way to go. He's got you going so many different directions you don't know which way is up. He is using bankers' math (sounds really good), but designed to make the bank rich, not the customer.
@billstapleton1084 7 ай бұрын
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 5 ай бұрын
It's 'Principal' not principle so what do you know if you can't even spell?
@billstapleton1084 5 ай бұрын
I know the Liberal run school system failed me as it has failed so many others.@@norfolknchance657
@kazemsharifan1372 10 ай бұрын
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 10 ай бұрын
How much extra?
@sparkyman8249 8 ай бұрын
@@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.
@turnovertheleaf5505 Жыл бұрын
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 10 ай бұрын
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 10 ай бұрын
You can never have said it better.
@HighCountryRambler 10 ай бұрын
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 10 ай бұрын
@@HighCountryRambler What will you do if your IRA earnings drop to 2.5%? That's the risk they're talking about.
@HighCountryRambler 10 ай бұрын
@@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.
@davidrpriest Жыл бұрын
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 Жыл бұрын
Even after all that rambling you’re still completely wrong.
@g-code3048 Жыл бұрын
@@bobcloughjr😂
@raylopez9153 Жыл бұрын
😂
@maplenook 10 ай бұрын
Read The Great Taking
@KTM_Atlanta 10 ай бұрын
@@bobcloughjr😀😀
@MRegoloveJar 10 ай бұрын
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.
@michaelbiasatti5016 Жыл бұрын
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.
@AN38385 10 ай бұрын
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 10 ай бұрын
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.
@OB928 10 ай бұрын
One LARGE variable missing from your equation - risk.
@bpmattic9648 2 жыл бұрын
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.
@Citizen-pg8eu 8 ай бұрын
The standard deduction is so high now that we get zero deductions for the interest we pay. How does that impact your numbers?
@JasonLee-fc2ot 10 ай бұрын
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.
@thebadgerette69 10 ай бұрын
Just paid mine off this week and I sent extra principal payments.
@bayodaman Жыл бұрын
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
@brianadams6204 Жыл бұрын
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?
@BobSmith-eq9vs 10 ай бұрын
Most people don’t pay enough yearly interest on their mortgage to itemize and see any tax savings over the standard deduction.
@lons5472 Ай бұрын
TU Doug for this very informative video, i stumbled upon this maybe for a reason.
@larrymorrow9373 9 ай бұрын
Im not buying it. Pay off your mortgage as quickly as you can!!!
@gregwood7120 3 жыл бұрын
hi doug,im from canada...who would you recommend i learn from ?
@rosaliethomson4655 Жыл бұрын
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.
@TheGav0071 8 ай бұрын
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!!
@alipainting 5 ай бұрын
Thanks, I was curious about this question.
@TopVillain Жыл бұрын
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 10 ай бұрын
No, pay off your mortgage than you can invest double or triple
@TopVillain 10 ай бұрын
@@mullboll33 no that’s not realist and it will take me still over 10 years
@tinamoore5026 10 ай бұрын
So when the economy tanks you still have your mortgage to pay.
@mullboll33 10 ай бұрын
@@tinamoore5026 and house leveraged against the debt lmao people believe ANYTHING random KZfaqrs say
@simmons6014 8 ай бұрын
But you pay more taxes on 401 when you withdraw because you put more in.
@gordeady6802 8 ай бұрын
Doug in Canada we don’t get an income deduction on our mortgages does this advice still hold?
@namhamada3984 Ай бұрын
Love hear how to invest what type, I get what say not to send extra payments to bank.
@PabloH 10 ай бұрын
it really makes sense! thank you
@timlemmon2332 13 күн бұрын
Finally someone is giving sane advice. Earning more than you are paying makes sense.
@missedfortune 11 күн бұрын
Glad I could help! Make sure to check out the rest of the channel for more great information!
@ShaneTheGeek 10 ай бұрын
All I needed to hear was insurance fund/IUL and like Barbara on Shark Tank I’m out 👻
@Arken2249 Ай бұрын
BS scam to sell more IUL & collect huge premiums.
@keithrichardson9127 10 ай бұрын
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.
@eBargainsToday 2 ай бұрын
Hi Doug, is there an equivalent in your mind for the LASER Fund for Canadians? Thank you in advance.
@missedfortune Ай бұрын
Unfortunately, the laws are different in Canada, but the last time we checked there was a way to use insurance in a similar manner. Instead of being able to take loans from insurance companies against your policy for tax-free access, you must borrow from a bank and use the policy for collateral. Check with an insurance specialist and tax specialist in Canada for more details.
@madalynmorgan688 Ай бұрын
I have been looking for someone to come on my feed and say this!!! Thank You Sir!! Life Insurance
@missedfortune 29 күн бұрын
Glad I could help! Check out the rest of our channel for more great information.
@undercat7767 Жыл бұрын
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
@wanderlust7020 8 ай бұрын
The State And Local Tax (SALT) cap of $10,000 already screws me from exceeding the standard deduction.
@NeoKailthas 3 жыл бұрын
I was starting to reach the same conclusions but you put together well. Thanks for sharing.
@missedfortune 3 жыл бұрын
Glad it was helpful!
@Dahmer_Jeff Жыл бұрын
When does the video start
@gerrygreen3535 10 ай бұрын
Funny, I just put $100K on our mortgage and Walsh! The payments went down by $600/month
@2Greenlid 10 ай бұрын
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 10 ай бұрын
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 9 ай бұрын
smoking some good green i see. Yeah payments will be the same, doesnt change .
@LemonySnicket-EUC 5 ай бұрын
I paid my house off long ago but the insurance and taxes never ends.
@wuzgoanon9373 8 ай бұрын
These days Im pleased enough if I can make the motgage payment on the due date.
@user-th9vq1mi9s Жыл бұрын
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
@LuxuryMoment46 Жыл бұрын
So we have to buy the book In order learn what kind of account he is talking about
@linkcarrier4309 7 ай бұрын
He is talking IUL . Google IUL
@porousdumasia3256 2 жыл бұрын
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 2 жыл бұрын
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.
@MH-hc7xq 10 ай бұрын
What was the name of that calculator again? Willy Wonkas magical lator or calc?
@bigal3248 10 ай бұрын
Never heard this method before! Going to setup my LASER fund now
@sheneathahollowell2750 3 ай бұрын
This makes sense. I need to get the discipline to do this
@missedfortune Ай бұрын
We would love to help! Learn how these strategies can transform your life by checking out the rest of the channel or browse website to learn more! 3dimensionalwealth.com/getstarted
@cybersedan 8 ай бұрын
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 8 ай бұрын
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.
@FunnyVideos-nn5qb Жыл бұрын
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.
@aldukes 8 ай бұрын
Why does it take every KZfaqr forever to get to their point?
@Fred2-123 6 ай бұрын
He did not only babble saying nothing, but he is pushing some garbage "investment".
@cgmckeever 6 ай бұрын
because youtube pays by the eyeball time spent on the video
@neetudhanda48 3 жыл бұрын
Hello Doug, Can you explain this with examples and numbers please. Thank you!
@factsoverfeelings9492 3 жыл бұрын
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.
@MrGorgefla 8 ай бұрын
Wonderful
@ClarisNdoroRealEstate 2 жыл бұрын
Amazing has always been a pro for real estate but today I under how to do it better.
@zulemapearce4949 27 күн бұрын
Excellent information.
@missedfortune 26 күн бұрын
Glad it was helpful! Make sure to check out the rest of the channel for more great information.
@trentjessee 3 жыл бұрын
Fantastic Doug! Great video.
@missedfortune 3 жыл бұрын
Thank you kindly!
@gsardiello 3 жыл бұрын
Great information. Thank you!!!
@missedfortune 3 жыл бұрын
Glad it was helpful!
@Mumsgardenoasis Жыл бұрын
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.
@lazarodiazhernandez8216 3 жыл бұрын
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 жыл бұрын
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 жыл бұрын
@@missedfortune I'm in
@BoDean52 10 ай бұрын
“Allow me the opportunity to buy your book”, 😳. Enjoyed the video even after hearing that
@Fabtruluv7915 Ай бұрын
Makes good sense sir 🙏🏽
@missedfortune Ай бұрын
Glad to hear it!
@samspraguefinanceformula3519 3 жыл бұрын
Interesting
@realisticalsexysherylhones1206 2 жыл бұрын
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?
@vietnam2513 12 күн бұрын
Exactly 😝… that’s why I’m not paying off my mortgage, currently with 2.75% 😊…. Even CD’s is paying me 5.5% 😀
@Livesinashack 5 ай бұрын
The lender certainly benefits from this approach
@sirsmalls4565 2 жыл бұрын
Had to rewind a couple of times but I finally think I understand lol…thanks for the information!
@missedfortune 2 жыл бұрын
You're welcome! Glad it helped!
@navymed3 2 ай бұрын
This guy has sleazy salesman vibes and the content of the video tracks
@marshallwise1763 Ай бұрын
25%? What about the cap life insurance imposes on annual gains??
@missedfortune 29 күн бұрын
It depends on the company and product. Currently, most 1 year S&P500 point-to-point strategies have a cap around 10-11%. The 2 year S&P500 index accounts have a cap of around 24%, and a 5 year S&P500 index account has no cap! All these index accounts have a floor of 0%. There are also no cap strategies, a current 1 year S&P500 index with one company has no cap and a spread of 6.5%, and a 2 year strategy with no cap and a spread of 5.75% over that 2 year period. There are also VCIs (volatility control index) accounts that have no cap and high participation rates. These accounts typically have participation rates of 200% to 390%. Meaning you participate in that much of the index return with no cap.
@isabellathepinkpoodle639 Ай бұрын
Tax deduction? Most people don’t quality for schedule A when they get their taxes prepared.
@sifisocmyeni1742 7 ай бұрын
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 7 ай бұрын
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 5 ай бұрын
@@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!
@juliorodriguez8891 2 жыл бұрын
One of the best video of payoff mortgage fast on all KZfaq plataform. Thanks man !!
@michaellucchesi354 3 жыл бұрын
How do you put money in the laser fund
@missedfortune 3 жыл бұрын
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 8 ай бұрын
Pay for the book😂😂😂
@gerrygreen3535 10 ай бұрын
He might have better luck selling ice to Eskimos!
@TishMclain 10 ай бұрын
😂
@simplelifeforyou5086 Жыл бұрын
Damn this is some good shit Sir. Thank you
@maxsmart8954 11 ай бұрын
Real Estate mortgage interest is one only remaining tax right offs
@demonslayer8085 10 ай бұрын
Excellent video! Subscribed!
@missedfortune 10 ай бұрын
Awesome, thank you!
@foodtaxi9244 8 ай бұрын
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.
@rusticrangebear372 8 ай бұрын
oh i see. but the financial system is not setup for normal people to walk away with the assets
@adammorris8777 5 күн бұрын
Great to see Shelley Levine still at it
@Ynalaw 10 ай бұрын
I provide massages to strange men in return for money. This is really helping pay my debts.
@mrsyogadoc 2 жыл бұрын
So it doesn’t seem to be the $6 for shipping anymore on that website
@Thumpur69 Жыл бұрын
I get what you are saying but I don't have 30 years to build that wealth.
@TishMclain 10 ай бұрын
Amen me either!!
@janetingacollins6409 8 ай бұрын
The best decision is based on your current mortgage interest rate and the possible earnings from investments.
@SeriousSchitt 5 ай бұрын
Absolutely. 8.5% mortgage interest rate, around 5% investment earnings… for me, it’s a no brainer!
@WizardKingCorey Ай бұрын
Most people don't itemize so that tax part is out the window. Currently the new ROI in your Lazer fund probably isn't going to work And mortgage rates are now over 7% Redoing the math is in order with figures and links to do the fund?
@divyapari9164 10 ай бұрын
This makes sense. Thank you for this video!
@missedfortune 9 ай бұрын
You are welcome!
@bforman1300 7 ай бұрын
Thank you!
@jsofianos Ай бұрын
Always pay your debt as quickly as you can
@Ynalaw 10 ай бұрын
What's a mor-geej?
@keithcooper129 3 ай бұрын
I would love to see Doug net worth vs Dave net worth
5 ай бұрын
does this work with a 7% interest rate?
@missedfortune 4 ай бұрын
You can schedule a free consultation with one of our specialists and they can answer your questions and help you: 3dimensionalwealth.com/getstarted/
@denniskingmoney 3 ай бұрын
Omg 7% interest????
@prominence29 3 жыл бұрын
🤯
@yosoytercio245 10 ай бұрын
👍🏼
@user-wq9mp2co2l 10 ай бұрын
It true for US n UK. In India it does not work.
@lorimogan4983 10 ай бұрын
Why payoff your mortgage if your tax equivalent interest is 1.0%
@DavidParent3044 9 ай бұрын
What type of account pays you tax free gains ?
@missedfortune 9 ай бұрын
IUL LASER Fund. kzfaq.info/get/bejne/iMuIpZCmsr-Xm2Q.html
@romananthonyii7555 29 күн бұрын
this sounds more like investing money vs debt consolidation...
@nicklockard 5 ай бұрын
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.
@jjpierce6032 10 ай бұрын
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 10 ай бұрын
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 8 ай бұрын
There’s a 3% service fee. At the beginning you failed to mention
@jjpierce6032 8 ай бұрын
Yes and 3% is cheaper than 6% plus hands down 90% of the mtg payments is all Interest
@dedsdidgdn 8 ай бұрын
Service fees for transfers are now around 5% with some banks
@sustainablelife1st 8 ай бұрын
you gotta live somewhere. your home is not an investment. But I always take the longest mortgage possible to allow for flexibility.
@SeriousSchitt 5 ай бұрын
Absolutely, BUT ‘DO’ pay your mortgage off faster if you can.
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