And that will keep people in debt... Pay off your loan quicker by adding paying money to the principal! 😮 I don't know why he's telling you not to do that! And it's so drawn out I don't know if I can watch this whole thing!😮 Oh wait it's to make the video longer so he can make more money on it! Nope I'm done! Hard to listen to this guy!
@@furryplantsandcoins9070 hmm people that don’t know how to manage money yes… he’s right, but he takes a long time to say it. Paying down your debt or mortgage faster is the equivalent of investing whatever your interest rate is. If your interest rate is less than 5% then in theory, putting those extra payments into higher-yielding investments will save/make you more money in the long run. He just didn’t need to make a 30+ minute video about it
@@furryplantsandcoins9070 - First off, most people don't understand "Cashflow" and where it fits, between Income, Expenses, Assets, Liabilities, and Net Worth, in their Personal Financial state! However, you actually can Get a Greater Yield in Dividends, than we typically pay in even Credit Card Interest! I know I do, but, I would rather not take a "Cash Advance" at 22%, when I know I can get Cash, at a Fee of just 1%, if even for just 9 Months, knowing Where I Put it, I can get 18%, or Better! Sometimes even over 50% Yield, and understanding the "Rule of 72", is part of the Matter! 😂
There can be no doubt that this year is shaping up to be harder. When I look back, I see I made poor choices with money last year because I was focused on my investments. I had to decide between adding to my portfolio or buying a house. Selling my things made me realize the house needed more repairs than I had planned for. I’m struggling to keep going
With the help of a financial expert I spread my investments across different markets, making over $1 million in profit from high dividend bonds, ETFs, and stocks. It's important to have a variety of investments, especially in strong, profitable companies
there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with June Renae Matthysse for about two years now, and her performance has been consistently impressive
i’m 54 years old, all those years passed by. I suppose it’s never too late to start. It’s a damn shame. They don’t teach you this in high school, instead they teach you to become a slave.
Yeah they don't teach you about the 1933 emergency banking Act either. And that all loans and insurances and down payments and the actual public law that are all fraud. It is upon the government to pay off all debts so pretty much that means all the bills are already prepaid. This guy I'm freaking many more of these freaking people are after your damn money that you work hard for open up your eyes and let's start reading this stuff.
It's never too late to start! You can check out this video: ruclips.net/video/lhbk-nOqUO0/видео.html Also if you want to know how to get started , can have an IUL professional look at your situation. Here's the website: 3dimensionalwealth.com/getstarted
Pay off your Home Debt. After that I promise You can live off a Part time job and On a Retirement payment as well. Life has no Guarantee how long you will live. Live in Peace and Enjoy life on less.
In my eye, you got it, my home is no show piece, but she was bought with cash it had equity the next day though I do not currently need it, it is there, not rich just saved up and bought it at 50 now I am 61.
@@nccrchurchunusual You’re absolutely right, I get what the original commenter is saying but just because you have a paid off mortgage doesn’t mean you can necessarily coast on a part time job, other stuff cost a lot of money too.
You don't have to refi the whole thing. You can just get an equity loan. To keep it simple, he just uses the term refi for either here. I'm sure he goes into much greater detail in the book and possibly other videos.
@dallaswoody7953 He answers you @18:39 and around @20:30 forward for a minute or two If you can get a higher return than your cost to borrow. That is the question you need to answer. Also, your question lacks details. What if your mortgage has a $100,000 balance that is at 3%. Your home is worth $1,000,000. An opportunity comes along that you can pretty safely get 7.5% out of it. Are you going to just do nothing because your mortgage note goes up in rate? Well clearly you don't take more than you can afford to pay, but why wouldn't you borrow at 6% (likely some or all of that will have tax benefit so maybe it is actually a net cost of 5%) while then getting 7.5%? Lastly, do you think that every time someone refinances property to get cash out they are lowering their interest rate? That is true if someone is just trying to lower their payments. But for the investor, as long as the carry cost of the leverage is lower than your expected return then you looking at a move that is clearly worth investigating.
Can you imagine having signed a loan contract and it was already paid off right then and there? Oh that's right millions have and don't even know they did. Also look up and read the emergency banking Act of 1933. Thank God for these schools to actually taught us about real life and not how to know how to do things and get actual job so we can pay the states and pay the government our money that we work hard for to try and pay off this huge debt that's been here for decades and it is still rising and rising it's amazing how much people put in right?
Few things are certain, if you owe money on your home, pay it off quickly, make your 401k investments but pay off all debts. When you retire and you will be able to if you plan and execute properly, you'll have no car, credit card or mortgage debt. Withdraw 3 or 4% to pay utilities, taxes and live off the rest.
Banks may not highlight that paying off high-interest debts early can save you money in the long run. They might also downplay the effect of making only minimum payments, which can keep you in debt longer and cost more in interest. Prioritizing high-interest debts first can help reduce your overall burden faster.
The truth is that people are finally waking up to the fact that our systems are breaking down in thousands of different ways all around us. Personally, the financial market seems like the only way to go with a long-term horizon . But if you don't have that time, it's a tough market out and thus you should consider financial advisory.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Well congrats on your freedom of debt..👀 .. well your not out of debt actually.. all those payments monthly your dishing out tells you you are in debt every month😵💫 it's a good thing everyone knows there's no actual currency to"Pay off"a debt. And you don't "OWN"anything you purchase. And there is no"Bad Credit"for the ppl. This guy just spouting off to all the slaves that don't know it's upon the GOVT to pay any debts acquired. And insurances/down payments/Loans are all Fraud. Emergency banking Act of 1933. Everyone needs to open her eyes now and share this with others.
Tax write offs dont offset the money you paid. For every dollar of interest you paid, you only get around 20-25% back from your tax write off. So you literally are still paying 75% of the interest, best case scenario
@@alanon907 Because I will make several times that investing it, and benefit from paying the mortgage with future devalued dollars. Caveat: I'm one of those people "stuck" in a 2.95% mortgage, so it is stupid easy for me to far exceed that with investment returns.
If you have a 20/30 yr mortgage and can AFFORD it, you will save a pile of interest if for the first seven/ten years you can pay 1.25x or 1.50x the normal payment. Ask a banker to run the amortization table (or do it on a business calculator online); you'll be surprised how much you'll save and how much faster it will pay off.
My investment returns far outpace any potential savings on mortgage interest from advancing the amortization schedule. I'm "stuck" in a 2.95% mortgage though, so even a no effort HYSA beats my mortgage interest, before even taking into consideration inflation, and that I'll be paying my mortgage with future devalued dollars.
@markbeiser I understand. I'm not arguing based upon using income for investments rather than paying down a mortgage. Just a statement of how much can be saved by attacking principle early in the mortgage.
A majority of people can't tax deduct their mortgage interest because they don't meet the minimum requirement to do it. The majority use the standard deduction. While this video is factually accurate, it is not for everyone.
@jonhall7188 He addesses that at 7:40 saying escentially that it doesn't matter. The sweetheart double-deductible's final year is 2025 anyway. With that, rising prices and interest back to historicaly normal levels, itemizing will become more common over the next few years.
You make it sound like people are stupid with their money, but you forgot to mention that we were dumb down from childhood, leaving us to figure out our lives, if they were to teach the children from kinder garden how to use money in smart ways so we would never fall in the trap of dept, so please Mr expert know the facts first before you throw blame on us, school has been the first problem, school is useless if your not schooled right.
The system would not work without those "dumb people" footing the bill, when the get rich on someone else's money advocates balloon investments beyond valuation.
Exactly, these so called Rich people rely on dumb down individuals to do the work for them. An ancient Caste system. Then flaunt it in your face and treat people disgustingly.
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This works only if you have a fixed price mortgage at like 4% or less and can safely invest at a higher rate of return. You'd have to do a max refinance when the rates are low and hold onto that cash and wait for the cycle where the returns are high which could be a few years. The good news is you have liquid cash in the bank in case of job or market outages.
How can you make more money than your mortgage payments ? Math of How money works does not make any sense when unable to make more than mortgage payment?
Thank you for explaining in depth a great way of leveraging your house asset. I'm currently putting together plans for the future and learning about leveraging. My parents are over 60, still paying their home and have no money. Trying to learn new skills and habits when it comes to finance. Thank you for this detailed explanation.
The whole reason you can deduct interest on a second home was because Congress people wanted to own homes in DC and their home districts. Most of these tax laws are written to benefit Congress or their corporate donors. Sometimes we can sneak in and benefit too if we have some extra cash and a tolerance for risk. What he doesn't tell you is that when you leverage your home to invest, if your investments tank in a bad recession you could lose your home and all the equity in it. If you keep some cash on hand (liquidity) to cover payments during these times you can avoid that, but then you have a lot of money sitting there earning nothing that you are paying interest on. It goes back to risk tolerance.
I agree. I got lost after putting it in the right hand pocket 18:44. In the beginning he talked about borrowing $1200 from your home to claim the tax deduction instead of traditional loans or credit cards. That sounds like an okay idea if you need to borrow money. But you will have additional closing costs and penalties (HELOC) for early payments and etc. I pay extra on my principal and pay my credit cards in full each month. I use the credit cards for the cash back rewards and have been able to purchase my grands very expensive gifts with the rewards.
Because the value of owning the property means more than the value of money. I'm not saying I didn't get anything out of the video, I certainly did. But you did ask the question.
T H I S!!! I have invested in AAPL and NVDA for a long time and even I know BS when I see this guy claiming a consistent 8% tax free gain compounding year after year 🤡 what a Charlatan
I have only one question. How many times have you filed for bankruptcy? Yes what you're preaching sounds good but you are giving a perfect world scenario which rarely ever happens.
@@heatingman2206 If we had succeeded as well as he claimed, he wouldn’t need to be selling anything (needing other people’s money) or making RUclips videos.
The main idea is, don’t pay off debt if you can use that money to make more by earning interest. Example: if you have debt at 3%, you don’t want to pay it if you can make 8% somewhere else. He’s just using different ways to explain the power of compounding. But it’s definitely a good idea to watch it again, as you said, so you can fully grasp the message.
Right, so the key here is to understand the difference between toxic debt and productive debt. Productive debt is debt you use to get returns above interest paid, while toxic debt is the debt which doesn't produce anything or you actually earn less than you pay on interest. At the same time it's important to note that you need to have a some sort of stable financial situation to be able to afford both investing and paying mortgage payments.
If you really want to grasp the message, refer to a person who speaks in a calm, clear voice and doesn't use hip abbreviations and/or financial slang...
My question is, how does your business deduct the interest on your ‘personal’ home? I’m not referring to the square footage of the house use for the business, I’m referring to the interest paid on your personal house and how does your business deduct/write it off?
One way would be that they hold the asset in a separate company or entity, and pay rent to that entity and call the rent an operating expense and write it off. All the tax codes are written by rich people. so they play all sorts of games. Another is they use the house as collateral for a business loan, making the interest payments deductible for the business.
@@karlpierce3035 if you’re making a business loan on an existing personal house that would be a second loan on the house and that interest would be a write off. Not the original loan on the personal property.
I believe you first need equity in your home. Then you refi and take cash out that you use to finance your business. Now when you make a "mortgage" payment, you are actually paying a business expense - the bus. loan - but back to a mortgage-related bank (for your house) , versus a bank which could have given you a direct bus. loan. So the catch is that you need the money first, in the form of equity in a home/other real estate you own which you then "make liquid" by borrowing against. The catch is that you need to already have earned/gotten that money. If you just go to a bank and ask for a bus. loan, they will usually say NO because you have no collateral, and, your bus. is likely too risky.
This might be good advice if...interest rates weren't so high AND you actually invest the money you'd have tied up in your mortgage in ways that can earn you more than the interest rate. Most people won't do that. They will spend the money on trifles, trinkets, cars, vacations, etc.
Same way homes can deprisiate the stock market can also drop we been at all time highs what happens if the next years are negative or 2-3 interest rate??
Yes it’s true that you will make more money investing the extra principal instead of paying extra principal payments but that doesn’t take into account the human element. Most people will enjoy the freedom that comes with not owing money on their house. Yes you still have property taxes but 4000 a year compared to 20k+ a year in addition to the 4k you pay already in property tax is pretty good. Most people don’t need to max their money they just need to not have huge monthly bills that make it harder to retire
Where are you making more than the price of mortgage? I have current certificates of deposits at 5.25%. Not liquid until they mature. But that same certificate has dropped to 4.5% at current rates. Home loans are up above these return rates. I max my Roth 401K. Where are you investing into a higher rate that is also liquid?
@@benmoisio232 That is the easy way, but after the initial steep learning curve, it isn't even hard to beat the SPY when the market is up trending, or to make income off investments when the market is trending down if you take the time and effort to learn how to evaluate companies, and how to relatively safely do options trading. Of course all your friends that don't understand will think you are speaking in word salad when you talk to them about it.🤣
@markbeiser yeah, I just talk to a lot of people who say they don't even know where to invest and this and that. Like honestly most people won't even beat the SPY so especially if you have no clue what you're doing just throw your money in there and let it go
Bad thing is, if you pay everything off, when you try and go buy something, you are turned down. Take it from me. People keep some debt cause if you don't, the banks are going to turn you down, good credit or not!! Truth!!
I am 30 years old surely in the top 10% of my age group, and i still have absolutely no clue what this dude is talking about. The taxes i pay on my home absolutely would not pay for the cost of my mortgage, even if i got 100% of that money back.
His reasoning is to have you invest any extra payments you might make in the stock market or something like that to generate capital instead of toward the mortgage. He is saying that extra payment could earn more in the long run in something like the stock market than it can save you in interest.
What he is saying is that by paying the mortgage over a 30 year schedule you are actually making a lot more money than if you had taken the money and payed the house off and thereby losing the higher return on investment that you could have gotten by keeping the money invested and compounding.
What happens when the money in the right pocket tanks in a recession, did he state how he was getting 10% profit every year on that right pocket? Not everyone has time to watch intrest rates and hedge their portfolios and have the crystal ball and knows when their investments are going to be havled in a sell off. IMO Piece of mind and growing wealth with the money saved from interest payments compounds too IMO. Has worked for me the past 35 years. Wonder if he is still refinancing that 1970 Chevy Impala or paid that loan off? Balanced approach IMO I live and sleep well debt free and invest dollar cost averaging and secured for retirement without SSI.
Your average person is subject to the standard deduction on federal income and can't "write off" most interest payments. For most, paying more towards higher interest items and refinancing when it's feasible will be the way to financial freedom. The expected rate of return on the market over the next 20 years is 5-6% depending on where you look. Hmm 5-6% rate on investments and paying capital gains or paying off debt and saving 6% on mortgage interest. I'd rather pay towards the hard asset with higher gains and Zero risk.
@@arthurraleigh5812 - Investments pay capital gains every year or when they are converted to cash. A house does as well, but $250,000 in gains are tax exempt. This is why you see people like realtors buy a house, fix and flip every 3 years.
I agree should of not paid off my mortgage finicially.Howevr I dont want to be divorced so I keep my paid off home.I do borrow from my IUL to invest though.Happy investing.
I'm glad you asked. You can see all of these advantages in a max-funded, properly structured IUL which I consider a LASER Fund and talk about in detail in my book. Here's the link for your free copy: www.laserfund.com
Borrowing money is cheaper than having physical money. If I put a dollar in my pocket today in 3 months it'll be worth $0.96 vs borrowing the same dollar frozen at a dollar that that when I payback at $0.96 + $0.02 in interest. Dollar VALUE and buying power are the keywords.
I live in Toronto, Canada. Is there someone here that you could recommend that I speak with who understands your ideas from a Canadian tax perspective?
Tax laws are different in Canada. 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. You can check with an insurance specialist and tax specialist in Canada to get the details.
Peace of mind of having paid off real estate that you live in is what I call carrying cost. I do the same with having cash, or an emergency fund with at least 6 months expenses. I might be missing out on 4% interest on the mortgage or 8% interest on that cash that's not guaranteed, but I sleep well at night no one can take my house away from me and I can withstand any downturn with the cash. Also there are opportunity's when others are broke, you can pick up assets for discounts and flip them for profits later. I also don't trust the banking system. There's been so many country's that have confiscated their citizens wealth that was held in the bank during high inflation. They could've bought a car with the savings, but after the hyper inflation they could buy a loaf of bread. I also think people with retirement accounts that they get tax deductions and savings are going to get them confiscated to save social security.
If your house you live in is paid for, people should gladly to not be in debt; anything could happen, like job lost, health decline, etc; life is difficult enough to keep owing these banks. Then you got property taxes, etc.
What happens if you lose your job (or your business goes under due to horrible economy) and your house value goes down? Then you can't sell your way out of debt, nor can you service that debt. Game over !
I'm sorry to say that this guy doesn't understand how debt really works. There are basically two principles that you MUST know. 1. Pursuant to GAAP, a financial transaction must be paid using the same species of money that was used to initiate the transaction. 2. Pursuant to public policy, no public entity (financial institutions) can lawfully demand payment in particular species of money.
Wow this is exactly how I started to think about it. I said why on earth would I ever pay off my HELOC! I would invest any money in excess of the principal forever!
Actually this really makes sense. Its kind of like a flywheel. We have to think more like this guy. You're just wagering one set up over another. His liquidity thesis is for sure a big part of it ?
I ran some of the advice that was given in this by my CPA and he tells me the IRS would be all over you if you try it. Be careful who you take advice from.
Yeah but you’re using an IUL as the mechanism. Which is good. However what if you cannot qualify for an IUL is there any other type of investment that could assist with this type of strategy? I don’t think a fixed index annuity can but maybe you could answer that question
Great question. We have helped clients use other family members to get the IUL. Otherwise, if insurance is not an option, you would have to look at a more traditional type strategy. IUL simply has the best protection and tax advantages
I bought my house in 1985 and paid it off by 1989. Then in 1996 I took out a new mortgage and invested it. Then I continued to take out new and more money. The interest rates are always the lowest on mortgages. I currently have 1.95% and it is all invested. In 2005 I got an offer from MBNA of 1.99% for life on a balance transfer. So I phoned them and got my credit limited increased to $30,000, then I transferred $29,500. I invested that and now it is $129,000 and I owe $5000 on the card and always paid the minimum, automatically every month. I can write off my mortgage interest and the interest on the credit card and I am in Canada. We can't write off mortgage interest, unless it is totally invested money.
People who only use OPM always only account for the interest math equation, they never factor risk! Have people never lost their jobs? Business dried up? Less debt, less risk. What did many massive businesses have in common when they went bankrupt? Massive debt! The federal government owes debt to itself with sovereign currency that it controls and prints. You as an individual don't have that power!
Videos like this always focus on the math side of life making assumptions about market growth. They almost never discuss the RISK you assume with large debts at low rates. "Life happens" and can catch you off-guard. Leverage is not your friend.
While I agree with your logic, you may want to ask all the federal employees who suddenly find themselves without a job and a mortgage to pay or lose their homes. That is why many people want to pay off their mortgages. This wealth managment tool is only for people who are not predisposed to jobs that can be taken away at the whim of a CEO..
@@firstname7470 I’ve asked many employees this question: “If you lost your job, would you rather have a $600,000 house with a higher mortgage balance and $450,000 of liquid cash you could access with an electronic funds transfer or a phone call, (even to make mortgage payments), or a lower mortgage balance and no liquid cash. Try borrowing the equity from your house when you don’t have a job. In other words, it’s a lot better to have (access to money) and not need it, than to need ut and not be able to get it.
I heard when you "borrow money from a bank" all the money comes from the federal reserve, all of the money, now this is what I heard. Now all of the money anyone has in the "bank" is digital, please show me I am wrong, now digital is only numbers on a screen right?
All money ultimately come from the Fed Reserve, and yes these days they do it digitally. they give it to the big banks, and your local banks too. When you borrow money from a big bank or from your local bank, it too is done digitally. Hope that helps
This is a low key way to keep people broke. To think that owing money forever will make you more money is an absurd notion. Which one is better? A free home, or a million dollar home with a $5000 mortgage? WHICH ONE!!!???
Its has equity - you can use that equity (mortgage) at your own risk to invest elsewhere. Gotta be really careful with a strategy like this. Buying assets with leverage is what generally causes financial collapse.
Yes in his example because by paying the house off early it is costing a lot more than what the money would earn with compounding if kept on investment. The problem with this scenario is that in order to make enough money to come out with this technique, you would have to invest in the stock market or high risk bonds and of course these vehicles sometimes lose money. In 2008 the market (did not make any difference which asset class you were in) lost over 40% and it took a while to come back. Remember if you have a 50% loss then you have to have a 100% gain just to get your money back. Good luck with that.
@@heatingman2206 Would never use leverage against mortgage as is a good way to end up both homeless and bankrupt. The way to look at the situation is instead of paying off mortgage by paying extra say 30 years instead of 15. Invest the difference and hope to make more than the house payment the remaining 15 years. The problem is that an investment that will pay enough to generate sufficient extra is also going to carry a lot of risk.
That's precisely my argument. Investing capital in the stock market is too risky. I would prefer to pay off my mortgage and become debt-free. However, the video's author recommends not paying off the mortgage, but instead investing in IUL/stocks, which I find confusing.
It's all about the risk I get it, but what happens when your dollar is devalued?😮 Hyperinflation? 😂 Putting money to work for you is what he wants to say in 3 seconds. Money, if used correctly, means that if you invest/buy something, you should earn from it. And when you earn from it, you buy bigger things or many smaller things, rinse, and repeat. No matter how small, over enough time, you will accumulate wealth. Time is your friend. 😮 That's how its done. 😅 Don't try to get rich quickly; get rich slowly. Easy to say but very hard to do. That means stop that three-dollar coffee, not because you are cheap or couldn't afford it but because it doesn't make you any money! That's the mentality, that's the methods. Something he failed to mention. And yes, you can start doing this today! It is easier now than ever to buy/sell for marginal profits. Good luck! You know how to flip an item? How to make candles! How to sell drugs? Lol, Just kidding! 😅 Oh, and instead of buying lottery why not buy term life for your family. I mean if you gonna throw money away anyway. Do it while they are strong and healthy but never before 40 yrs. Trust me you might be surprise.
This is the most drawn out video i’ve ever seen for someone just to say “stick to your minimum payments and invest the extra”
Exactly. I can't watch it had to quit.
And that will keep people in debt... Pay off your loan quicker by adding paying money to the principal! 😮 I don't know why he's telling you not to do that! And it's so drawn out I don't know if I can watch this whole thing!😮 Oh wait it's to make the video longer so he can make more money on it! Nope I'm done! Hard to listen to this guy!
@@furryplantsandcoins9070 hmm people that don’t know how to manage money yes… he’s right, but he takes a long time to say it.
Paying down your debt or mortgage faster is the equivalent of investing whatever your interest rate is. If your interest rate is less than 5% then in theory, putting those extra payments into higher-yielding investments will save/make you more money in the long run. He just didn’t need to make a 30+ minute video about it
@@furryplantsandcoins9070 - First off, most people don't understand "Cashflow" and where it fits, between Income, Expenses, Assets, Liabilities, and Net Worth, in their Personal Financial state!
However, you actually can Get a Greater Yield in Dividends, than we typically pay in even Credit Card Interest! I know I do, but, I would rather not take a "Cash Advance" at 22%, when I know I can get Cash, at a Fee of just 1%, if even for just 9 Months, knowing Where I Put it, I can get 18%, or Better! Sometimes even over 50% Yield, and understanding the "Rule of 72", is part of the Matter! 😂
Thank you-you saved me 30 minutes of aggravation!
When you have no debt, you sleep better. If you don’t have debt, you have more money to invest.
Depends on what kind of debt it is.
Not all debt is bad, there are forms of debt that you can use to do work for you.
There can be no doubt that this year is shaping up to be harder. When I look back, I see I made poor choices with money last year because I was focused on my investments. I had to decide between adding to my portfolio or buying a house. Selling my things made me realize the house needed more repairs than I had planned for. I’m struggling to keep going
Every one of us has made mistakes at some point. Consider financial planning
With the help of a financial expert I spread my investments across different markets, making over $1 million in profit from high dividend bonds, ETFs, and stocks. It's important to have a variety of investments, especially in strong, profitable companies
Would you mind telling me about your financial planner ?
there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with June Renae Matthysse for about two years now, and her performance has been consistently impressive
She seems to be kind and well educated. I looked up her name online and discovered her website, thank you for sharing 👍
i’m 54 years old, all those years passed by. I suppose it’s never too late to start. It’s a damn shame. They don’t teach you this in high school, instead they teach you to become a slave.
Yeah madness that you have to jump around to be a person living a life today
Yeah they don't teach you about the 1933 emergency banking Act either. And that all loans and insurances and down payments and the actual public law that are all fraud. It is upon the government to pay off all debts so pretty much that means all the bills are already prepaid. This guy I'm freaking many more of these freaking people are after your damn money that you work hard for open up your eyes and let's start reading this stuff.
That was their plan all along, teach you to be a slave. Really sad.
It's never too late to start! You can check out this video: ruclips.net/video/lhbk-nOqUO0/видео.html Also if you want to know how to get started , can have an IUL professional look at your situation. Here's the website: 3dimensionalwealth.com/getstarted
Pay off your Home Debt. After that I promise You can live off a Part time job and On a Retirement payment as well. Life has no Guarantee how long you will live. Live in Peace and Enjoy life on less.
Exactly. The plan explained here will not work unless you can get through life with no emergencies, ever.
Not realistic.
Maybe but Not sure that is the case- Home Ins, Propety tax, repairs, Med Expense, utilities, HOA. Adds up to alot.
In my eye, you got it, my home is no show piece, but she was bought with cash it had equity the next day though I do not currently need it, it is there, not rich just saved up and bought it at 50 now I am 61.
Word!
@@nccrchurchunusual
You’re absolutely right, I get what the original commenter is saying but just because you have a paid off mortgage doesn’t mean you can necessarily coast on a part time job, other stuff cost a lot of money too.
I'll just stay mortgage free, and not owe my credit cards for a kicker. My debt game is over.
💪🏾
Ok great you have no debt but are you debt free without the wealth? Thats the point. You can be safe or you can be wealthy.
can you imagine having a home loan at below 3% and refinancing for 6% not a good option
You don't have to refi the whole thing. You can just get an equity loan. To keep it simple, he just uses the term refi for either here. I'm sure he goes into much greater detail in the book and possibly other videos.
@dallaswoody7953
He answers you @18:39 and around @20:30 forward for a minute or two
If you can get a higher return than your cost to borrow. That is the question you need to answer.
Also, your question lacks details.
What if your mortgage has a $100,000 balance that is at 3%. Your home is worth $1,000,000. An opportunity comes along that you can pretty safely get 7.5% out of it. Are you going to just do nothing because your mortgage note goes up in rate? Well clearly you don't take more than you can afford to pay, but why wouldn't you borrow at 6% (likely some or all of that will have tax benefit so maybe it is actually a net cost of 5%) while then getting 7.5%?
Lastly, do you think that every time someone refinances property to get cash out they are lowering their interest rate? That is true if someone is just trying to lower their payments. But for the investor, as long as the carry cost of the leverage is lower than your expected return then you looking at a move that is clearly worth investigating.
Heloc? So no refi on anything lower than 5%, correct?
unless to move to a state with lower property tax and no income tax.
Can you imagine having signed a loan contract and it was already paid off right then and there? Oh that's right millions have and don't even know they did. Also look up and read the emergency banking Act of 1933. Thank God for these schools to actually taught us about real life and not how to know how to do things and get actual job so we can pay the states and pay the government our money that we work hard for to try and pay off this huge debt that's been here for decades and it is still rising and rising it's amazing how much people put in right?
Few things are certain, if you owe money on your home, pay it off quickly, make your 401k investments but pay off all debts. When you retire and you will be able to if you plan and execute properly, you'll have no car, credit card or mortgage debt. Withdraw 3 or 4% to pay utilities, taxes and live off the rest.
Banks may not highlight that paying off high-interest debts early can save you money in the long run. They might also downplay the effect of making only minimum payments, which can keep you in debt longer and cost more in interest. Prioritizing high-interest debts first can help reduce your overall burden faster.
The truth is that people are finally waking up to the fact that our systems are breaking down in thousands of different ways all around us. Personally, the financial market seems like the only way to go with a long-term horizon . But if you don't have that time, it's a tough market out and thus you should consider financial advisory.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
"Let me show you how to get out of debt." 30 minutes of bla bla bla later. "Buy my book"
I was in debt for years. Did the Financial Freedom course... debt free for 8 years.
Well congrats on your freedom of debt..👀 .. well your not out of debt actually.. all those payments monthly your dishing out tells you you are in debt every month😵💫 it's a good thing everyone knows there's no actual currency to"Pay off"a debt. And you don't "OWN"anything you purchase. And there is no"Bad Credit"for the ppl. This guy just spouting off to all the slaves that don't know it's upon the GOVT to pay any debts acquired. And insurances/down payments/Loans are all Fraud. Emergency banking Act of 1933. Everyone needs to open her eyes now and share this with others.
@TeddyShraderjr-h5l can you please share where you learned what you are referring to?
Okay now do one for the rest of us that dont have a bunch of spare capital laying around to begin with
Why not compound it in a Roth account. After five years no penalty on a withdrawal.
Tax write offs dont offset the money you paid. For every dollar of interest you paid, you only get around 20-25% back from your tax write off. So you literally are still paying 75% of the interest, best case scenario
Came here to say this. This man is selling snake oil. Why pay off a $400,000 house when you can drag it out and pay a million for the same house?
@@alanon907 Because I will make several times that investing it, and benefit from paying the mortgage with future devalued dollars.
Caveat: I'm one of those people "stuck" in a 2.95% mortgage, so it is stupid easy for me to far exceed that with investment returns.
If you have a 20/30 yr mortgage and can AFFORD it, you will save a pile of interest if for the first seven/ten years you can pay 1.25x or 1.50x the normal payment. Ask a banker to run the amortization table (or do it on a business calculator online); you'll be surprised how much you'll save and how much faster it will pay off.
My investment returns far outpace any potential savings on mortgage interest from advancing the amortization schedule.
I'm "stuck" in a 2.95% mortgage though, so even a no effort HYSA beats my mortgage interest, before even taking into consideration inflation, and that I'll be paying my mortgage with future devalued dollars.
@markbeiser I understand. I'm not arguing based upon using income for investments rather than paying down a mortgage. Just a statement of how much can be saved by attacking principle early in the mortgage.
A majority of people can't tax deduct their mortgage interest because they don't meet the minimum requirement to do it. The majority use the standard deduction. While this video is factually accurate, it is not for everyone.
IRS keeps raising the Standard Deduction, which makes it harder to itemize anymore.
@@jakestoe The "Tax Cuts and Jobs Act" is scheduled to end this year so, baring any new changes, it will drop back to normal in 2026.
@ I totally agree. That's why a majority of people do not meet the minimum threshold to itemize their deductions.
Filing jointly, a couple must meet a minimum of 30k in deductions to be able to do this.
@jonhall7188 He addesses that at 7:40 saying escentially that it doesn't matter. The sweetheart double-deductible's final year is 2025 anyway. With that, rising prices and interest back to historicaly normal levels, itemizing will become more common over the next few years.
You make it sound like people are stupid with their money, but you forgot to mention that we were dumb down from childhood, leaving us to figure out our lives, if they were to teach the children from kinder garden how to use money in smart ways so we would never fall in the trap of dept, so please Mr expert know the facts first before you throw blame on us, school has been the first problem, school is useless if your not schooled right.
And the fact that you cannot rely on your job.
The system would not work without those "dumb people" footing the bill, when the get rich on someone else's money advocates balloon investments beyond valuation.
You must be born Jewish for that...😂
Exactly, these so called Rich people rely on dumb down individuals to do the work for them. An ancient Caste system. Then flaunt it in your face and treat people disgustingly.
If you were open to learning you would be grateful for this free advice you choose not to listen to.
Thank you for your videos.... The current global economy remains challenging, with central banks maintaining higher interest rates to combat inflation, creating tighter lending conditions and slowing consumer and corporate spending. This environment is pressuring sectors like housing, retail, and stocks, while rising unemployment remains a concern. Diversified portfolios, including stocks and alternative assets like cryptocurrencies, are essential for managing risk and volatility, alongside balanced trading strategies. Personally, I’ve grown my portfolio from $130k to $732k in just a few months, thanks to Laura Brockman’s exceptional expertise and traditional trading acumen, which have been invaluable in navigating this ever-evolving market...
She's often interacts on Telegrams, using the user-name..
@LauraBrockman
I lost so much money trading on my own, I think I'm motivated to trading again but this time with she thanks for sharing her contact.
Everyone needs more than than a Basic Income to be Financially Secured in this present time that there's an Economic Decline.
Laura literally saved me, just before the crash she advised me to get out of my long position. I'll recommend her any day.
I have NEVER heard anyone give out this secret with this simplicity, and for FREE like you just did!!!
THANK YOU 🙏🏾
More Blessings to you!
Now, headed to getting the book, subscribing to your channel and watching more!
IUL is a game changer!!!!!!!
Thank you for your videos mate.... With Trump's presidency, economic shifts are expected to be significant, especially given the current recession and the potential impact of future rate cuts. Although rate cuts might not boost inflation as hoped, they may lead banks to further restrict consumer and corporate lending, contributing to a deflationary period for various assets. This environment could result in declining stock values, retail and housing sales, and rising unemployment due to layoffs. For investors, a diversified portfolio especially with stocks and cryptocurrencies offers some protection, serving as a hedge amid volatility. Both long- and short-term trading strategies can help manage risks, providing stability as markets adjust. I have managed to grow a nest egg of around 130k to a decent 732k in the space of a few months... I'm especially grateful to Milton Harper, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape..
He mostly interacts on Telegrams, using the user-name,
@MiltonHarper
he is all about simple technique that are highly profitable, I really admire his winning mentality.
Thanks for keeping it light and real at the same time. Much needed for us traders in times like these!
Milton Harper’s understanding of market indicators is impressive. He knows exactly when to enter and exit trades for maximum profit. His siignals are top notch..
This works only if you have a fixed price mortgage at like 4% or less and can safely invest at a higher rate of return. You'd have to do a max refinance when the rates are low and hold onto that cash and wait for the cycle where the returns are high which could be a few years. The good news is you have liquid cash in the bank in case of job or market outages.
I guess most commenters didn't understand this wealth building system. It's similar to the Vantastic Banking concept, also on RUclips. Thank you Doug.
How can you make more money than your mortgage payments ? Math of How money works does not make any sense when unable to make more than mortgage payment?
His white board : Leverage without Liquidity is "STUDPIDITY" . .Learned a new word today.
😂😂
@@eclairtreo the irony is uncanny huh?
annuity agent are like that stupid and commission hungry
His maths might math, but his spellings don't spell..
Thank you for explaining in depth a great way of leveraging your house asset. I'm currently putting together plans for the future and learning about leveraging. My parents are over 60, still paying their home and have no money. Trying to learn new skills and habits when it comes to finance. Thank you for this detailed explanation.
How do you garauntee returns on invested money? Or what are the best investing options?
And this is an example of how screwed up the us tax system is
The whole reason you can deduct interest on a second home was because Congress people wanted to own homes in DC and their home districts. Most of these tax laws are written to benefit Congress or their corporate donors. Sometimes we can sneak in and benefit too if we have some extra cash and a tolerance for risk.
What he doesn't tell you is that when you leverage your home to invest, if your investments tank in a bad recession you could lose your home and all the equity in it. If you keep some cash on hand (liquidity) to cover payments during these times you can avoid that, but then you have a lot of money sitting there earning nothing that you are paying interest on. It goes back to risk tolerance.
Thanks for the info, but it was confusing.
I agree. I got lost after putting it in the right hand pocket 18:44. In the beginning he talked about borrowing $1200 from your home to claim the tax deduction instead of traditional loans or credit cards. That sounds like an okay idea if you need to borrow money. But you will have additional closing costs and penalties (HELOC) for early payments and etc. I pay extra on my principal and pay my credit cards in full each month. I use the credit cards for the cash back rewards and have been able to purchase my grands very expensive gifts with the rewards.
Great idea until the bank calls your loan and you only made minimum payments.
Paid cash for everything I did take a loam for my car. I had 0 choice my Credit was docked for paying cash! Now 850. Paid cash for my home too
That's awesome.... something he doesn't mention is the PEACE OF MIND that comes from having NO DEBT....
The borrower is slave to the lender....
Because the value of owning the property means more than the value of money.
I'm not saying I didn't get anything out of the video, I certainly did. But you did ask the question.
What do you invest in?
T H I S!!!
I have invested in AAPL and NVDA for a long time and even I know BS when I see this guy claiming a consistent 8% tax free gain compounding year after year 🤡 what a Charlatan
Can you share how you made the 10% in 2008 vs the bank making 4%?
I must have missed that part. Also, I think rates were like 6%.
I have only one question. How many times have you filed for bankruptcy? Yes what you're preaching sounds good but you are giving a perfect world scenario which rarely ever happens.
Probably never these types of snake oil sellers have a way to deleverage at the right time, and live the tax payers holding the bag.
@@heatingman2206 If we had succeeded as well as he claimed, he wouldn’t need to be selling anything (needing other people’s money) or making RUclips videos.
yes, there are a bunch of potentially negative scenarios that he just breezes by.
What is the best companies for IUL? Some are not the best. You have given me some perspective on my extra principle
If you are in the Tribe, banks will give you interest free loans to play with.
So 1st thing 1st. Get my credit right? This is a lot to take in. I'm gonna have to watch this many more times to really get it
The main idea is, don’t pay off debt if you can use that money to make more by earning interest. Example: if you have debt at 3%, you don’t want to pay it if you can make 8% somewhere else. He’s just using different ways to explain the power of compounding. But it’s definitely a good idea to watch it again, as you said, so you can fully grasp the message.
Right, so the key here is to understand the difference between toxic debt and productive debt. Productive debt is debt you use to get returns above interest paid, while toxic debt is the debt which doesn't produce anything or you actually earn less than you pay on interest.
At the same time it's important to note that you need to have a some sort of stable financial situation to be able to afford both investing and paying mortgage payments.
@@victor-alexandru_popescu I like toxic freedom from ANY debt.
@@victor-alexandru_popescu well-said. You explained it better than I did
If you really want to grasp the message, refer to a person who speaks in a calm, clear voice and doesn't use hip abbreviations and/or financial slang...
My question is, how does your business deduct the interest on your ‘personal’ home? I’m not referring to the square footage of the house use for the business, I’m referring to the interest paid on your personal house and how does your business deduct/write it off?
One way would be that they hold the asset in a separate company or entity, and pay rent to that entity and call the rent an operating expense and write it off. All the tax codes are written by rich people. so they play all sorts of games. Another is they use the house as collateral for a business loan, making the interest payments deductible for the business.
By making a business loan on your home.
@@karlpierce3035 if you’re making a business loan on an existing personal house that would be a second loan on the house and that interest would be a write off. Not the original loan on the personal property.
I believe you first need equity in your home. Then you refi and take cash out that you use to finance your business. Now when you make a "mortgage" payment, you are actually paying a business expense - the bus. loan - but back to a mortgage-related bank (for your house) , versus a bank which could have given you a direct bus. loan.
So the catch is that you need the money first, in the form of equity in a home/other real estate you own which you then "make liquid" by borrowing against. The catch is that you need to already have earned/gotten that money. If you just go to a bank and ask for a bus. loan, they will usually say NO because you have no collateral, and, your bus. is likely too risky.
This might be good advice if...interest rates weren't so high AND you actually invest the money you'd have tied up in your mortgage in ways that can earn you more than the interest rate. Most people won't do that. They will spend the money on trifles, trinkets, cars, vacations, etc.
This strategy is not designed for what we call financial jellyfish... Doing this correctly does require diligence and commitment.
most people don't have extra money
@ Yes. Most people don't have the diligence. But, this advice will give them an excuse in their minds to mortgage themselves to the hilt.
@ Thanks for totally missing the point. Go watch the video again and then read my comment again.
Most people need them some Dave Ramsey, stuff like this video is for the rest of us.
How do you protect yourself from "bail in's"
Same way homes can deprisiate the stock market can also drop we been at all time highs what happens if the next years are negative or 2-3 interest rate??
Yes it’s true that you will make more money investing the extra principal instead of paying extra principal payments but that doesn’t take into account the human element. Most people will enjoy the freedom that comes with not owing money on their house. Yes you still have property taxes but 4000 a year compared to 20k+ a year in addition to the 4k you pay already in property tax is pretty good. Most people don’t need to max their money they just need to not have huge monthly bills that make it harder to retire
Where are you making more than the price of mortgage? I have current certificates of deposits at 5.25%. Not liquid until they mature. But that same certificate has dropped to 4.5% at current rates. Home loans are up above these return rates. I max my Roth 401K. Where are you investing into a higher rate that is also liquid?
Right! Just like Dave Ramsey is always talking about investments that return 10% but he never, ever tells you where the heck you can get 10% return.
The S&P 500 has returned an annualized 10% since its inception. If you did a small amount of research yourself you'd know this. The etf is ticker SPY
@@benmoisio232 That is the easy way, but after the initial steep learning curve, it isn't even hard to beat the SPY when the market is up trending, or to make income off investments when the market is trending down if you take the time and effort to learn how to evaluate companies, and how to relatively safely do options trading.
Of course all your friends that don't understand will think you are speaking in word salad when you talk to them about it.🤣
@markbeiser yeah, I just talk to a lot of people who say they don't even know where to invest and this and that. Like honestly most people won't even beat the SPY so especially if you have no clue what you're doing just throw your money in there and let it go
Bad thing is, if you pay everything off, when you try and go buy something, you are turned down. Take it from me. People keep some debt cause if you don't, the banks are going to turn you down, good credit or not!! Truth!!
JUST LEAR HOW MUCH I IGNOR AND MORE THANK YOU GREAT INFORMATION
The problem is standard is more then the interest…
They never explain where you get the cash flow to pay your loans
How do I do this on ssi
I am 30 years old surely in the top 10% of my age group, and i still have absolutely no clue what this dude is talking about. The taxes i pay on my home absolutely would not pay for the cost of my mortgage, even if i got 100% of that money back.
His reasoning is to have you invest any extra payments you might make in the stock market or something like that to generate capital instead of toward the mortgage. He is saying that extra payment could earn more in the long run in something like the stock market than it can save you in interest.
What he is saying is that by paying the mortgage over a 30 year schedule you are actually making a lot more money than if you had taken the money and payed the house off and thereby losing the higher return on investment that you could have gotten by keeping the money invested and compounding.
What happens when the money in the right pocket tanks in a recession, did he state how he was getting 10% profit every year on that right pocket? Not everyone has time to watch intrest rates and hedge their portfolios and have the crystal ball and knows when their investments are going to be havled in a sell off. IMO Piece of mind and growing wealth with the money saved from interest payments compounds too IMO. Has worked for me the past 35 years. Wonder if he is still refinancing that 1970 Chevy Impala or paid that loan off? Balanced approach IMO I live and sleep well debt free and invest dollar cost averaging and secured for retirement without SSI.
Love this!
Thank you!
Thanks so much brother, its a lot I dont know but Im learning thank you! Ill be keeping the books.
Thanks! Just keep watching, there are a lot more in the videos in tis channel I'm sure you'd be interested in.
@@missedfortune Yes sir. Thank you
You sound so (smart) however.....I have NEVER Saw a PAiD FOR CAR GET REPOED
Your average person is subject to the standard deduction on federal income and can't "write off" most interest payments. For most, paying more towards higher interest items and refinancing when it's feasible will be the way to financial freedom. The expected rate of return on the market over the next 20 years is 5-6% depending on where you look. Hmm 5-6% rate on investments and paying capital gains or paying off debt and saving 6% on mortgage interest. I'd rather pay towards the hard asset with higher gains and Zero risk.
I tend to agree with you. When you say capital gains, are you talking about in the future when you sell your house?
@@arthurraleigh5812 - Investments pay capital gains every year or when they are converted to cash. A house does as well, but $250,000 in gains are tax exempt. This is why you see people like realtors buy a house, fix and flip every 3 years.
Thank you! New obsessed subscriber here I'm about to binge watch your entire channel! 🙏
Thanks! You can also get a free copy of The LASER Fund. Here's the link: www.laserfund.com
And what are you selling after the book?
I agree should of not paid off my mortgage finicially.Howevr I dont want to be divorced so
I keep my paid off home.I do borrow from my IUL to invest though.Happy investing.
That is one reason I enjoy the benefits of a Veterans Administration Loan!
How do you make money off a house that is already Paid off??
But what where you investing in in order to earn the double percentage than paying in? Please help
I'm glad you asked. You can see all of these advantages in a max-funded, properly structured IUL which I consider a LASER Fund and talk about in detail in my book. Here's the link for your free copy: www.laserfund.com
Borrowing money is cheaper than having physical money. If I put a dollar in my pocket today in 3 months it'll be worth $0.96 vs borrowing the same dollar frozen at a dollar that that when I payback at $0.96 + $0.02 in interest. Dollar VALUE and buying power are the keywords.
I love how you explained the blessing of tithing!! Now I’m going to listen to the rest of your video 😇
Wonderful! Thank you!
lol, a "blessing" for the pastor/s, and then you can feel holy when you avoid taxes
It's trough inflation, but that really only work if you have enough debt, don't really work for ordinary people
Thanks for this. You remind me of a young Ron Paul.
I live in Toronto, Canada. Is there someone here that you could recommend that I speak with who understands your ideas from a Canadian tax perspective?
Tax laws are different in Canada. 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. You can check with an insurance specialist and tax specialist in Canada to get the details.
Peace of mind of having paid off real estate that you live in is what I call carrying cost. I do the same with having cash, or an emergency fund with at least 6 months expenses. I might be missing out on 4% interest on the mortgage or 8% interest on that cash that's not guaranteed, but I sleep well at night no one can take my house away from me and I can withstand any downturn with the cash. Also there are opportunity's when others are broke, you can pick up assets for discounts and flip them for profits later.
I also don't trust the banking system. There's been so many country's that have confiscated their citizens wealth that was held in the bank during high inflation. They could've bought a car with the savings, but after the hyper inflation they could buy a loaf of bread. I also think people with retirement accounts that they get tax deductions and savings are going to get them confiscated to save social security.
You missed the point of this video. If your mortgage is 500k and you have 500k cash or more you have nothing to lose.
If your house you live in is paid for, people should gladly to not be in debt; anything could happen, like job lost, health decline, etc; life is difficult enough to keep owing these banks. Then you got property taxes, etc.
@@karlpierce3035 who has 500k cash?!
@@arthurraleigh5812 Smart people
Not taking risk into account. A lot of people went bankrupt during the GFC with this mindset.
What happens if you lose your job (or your business goes under due to horrible economy) and your house value goes down? Then you can't sell your way out of debt, nor can you service that debt. Game over !
I'm sorry to say that this guy doesn't understand how debt really works. There are basically two principles that you MUST know.
1. Pursuant to GAAP, a financial transaction must be paid using the same species of money that was used to initiate the transaction.
2. Pursuant to public policy, no public entity (financial institutions) can lawfully demand payment in particular species of money.
Wow this is exactly how I started to think about it. I said why on earth would I ever pay off my HELOC! I would invest any money in excess of the principal forever!
refinance with whom?
Thank you so much
You're most welcome
I believe Mr. Andrew is selling a special kind of tax free annuity.
Only tax free on a death benefit. IUL = individual Universal Life insurance policy.
what about capitol gains?
Actually this really makes sense. Its kind of like a flywheel. We have to think more like this guy. You're just wagering one set up over another. His liquidity thesis is for sure a big part of it ?
Better call Saul
I ran some of the advice that was given in this by my CPA and he tells me the IRS would be all over you if you try it. Be careful who you take advice from.
What specifically alarmed your CPA?
And percentage wise in this dollar system the other assets will end the end have more value than the paper.
Yeah but you’re using an IUL as the mechanism. Which is good. However what if you cannot qualify for an IUL is there any other type of investment that could assist with this type of strategy? I don’t think a fixed index annuity can but maybe you could answer that question
Great question. We have helped clients use other family members to get the IUL. Otherwise, if insurance is not an option, you would have to look at a more traditional type strategy. IUL simply has the best protection and tax advantages
You would need to pay the cost of insurance the first few years.
Do you get a management company?
I’m wondering if you’d be excited to get your brand new tires on sale at Walmart for your 2002 car you can barely afford?
Where is the book offer?
Found it
I need one of these employees
I need a lot of these employees.!!!
😂😂
No one, NO ONE ever borrowed their way into wealth.
I bought my house in 1985 and paid it off by 1989. Then in 1996 I took out a new mortgage and invested it. Then I continued to take out new and more money. The interest rates are always the lowest on mortgages. I currently have 1.95% and it is all invested. In 2005 I got an offer from MBNA of 1.99% for life on a balance transfer. So I phoned them and got my credit limited increased to $30,000, then I transferred $29,500. I invested that and now it is $129,000 and I owe $5000 on the card and always paid the minimum, automatically every month. I can write off my mortgage interest and the interest on the credit card and I am in Canada. We can't write off mortgage interest, unless it is totally invested money.
Wait is that what real estate investors do, borrow to get properties?
People who only use OPM always only account for the interest math equation, they never factor risk! Have people never lost their jobs? Business dried up? Less debt, less risk.
What did many massive businesses have in common when they went bankrupt? Massive debt!
The federal government owes debt to itself with sovereign currency that it controls and prints. You as an individual don't have that power!
I have my property paid off, earning $10K net. I can’t convince myself to get into debt.
I watch this again.
Good stuff but how is it earned tax free? 28:33 that’s where you lose me.
I like the way you teach. Thank you.🎉
You are welcome!
Videos like this always focus on the math side of life making assumptions about market growth. They almost never discuss the RISK you assume with large debts at low rates. "Life happens" and can catch you off-guard. Leverage is not your friend.
When did you see money last?
I think he says if you pay only theminimum payment youll benefit when it comes tax time and the tax benefit is greater?
While I agree with your logic, you may want to ask all the federal employees who suddenly find themselves without a job and a mortgage to pay or lose their homes. That is why many people want to pay off their mortgages. This wealth managment tool is only for people who are not predisposed to jobs that can be taken away at the whim of a CEO..
@@firstname7470 I’ve asked many employees this question: “If you lost your job, would you rather have a $600,000 house with a higher mortgage balance and $450,000 of liquid cash you could access with an electronic funds transfer or a phone call, (even to make mortgage payments), or a lower mortgage balance and no liquid cash. Try borrowing the equity from your house when you don’t have a job. In other words, it’s a lot better to have (access to money) and not need it, than to need ut and not be able to get it.
I heard when you "borrow money from a bank" all the money comes from the federal reserve, all of the money, now this is what I heard. Now all of the money anyone has in the "bank" is digital, please show me I am wrong, now digital is only numbers on a screen right?
All money ultimately come from the Fed Reserve, and yes these days they do it digitally. they give it to the big banks, and your local banks too. When you borrow money from a big bank or from your local bank, it too is done digitally. Hope that helps
End all taxes!
This is a low key way to keep people broke. To think that owing money forever will make you more money is an absurd notion. Which one is better? A free home, or a million dollar home with a $5000 mortgage? WHICH ONE!!!???
How about these 8 % student loans. I have been buried under them for so long. The interest is killin me
Pay them off if you can. they don't have equity beyond whatever earnings potential they provide you.
I don't get it. The mortgage is the employee?
Its has equity - you can use that equity (mortgage) at your own risk to invest elsewhere. Gotta be really careful with a strategy like this. Buying assets with leverage is what generally causes financial collapse.
Yes in his example because by paying the house off early it is costing a lot more than what the money would earn with compounding if kept on investment. The problem with this scenario is that in order to make enough money to come out with this technique, you would have to invest in the stock market or high risk bonds and of course these vehicles sometimes lose money. In 2008 the market (did not make any difference which asset class you were in) lost over 40% and it took a while to come back. Remember if you have a 50% loss then you have to have a 100% gain just to get your money back. Good luck with that.
@@heatingman2206 Would never use leverage against mortgage as is a good way to end up both homeless and bankrupt. The way to look at the situation is instead of paying off mortgage by paying extra say 30 years instead of 15. Invest the difference and hope to make more than the house payment the remaining 15 years. The problem is that an investment that will pay enough to generate sufficient extra is also going to carry a lot of risk.
@@marktapley7571that's why I hate the market!
That's precisely my argument. Investing capital in the stock market is too risky. I would prefer to pay off my mortgage and become debt-free. However, the video's author recommends not paying off the mortgage, but instead investing in IUL/stocks, which I find confusing.
Leverage 🎉
1+1=200 3×3=300 best sales man i have ever listen to i want to employ you
It's all about the risk I get it, but what happens when your dollar is devalued?😮 Hyperinflation?
😂 Putting money to work for you is what he wants to say in 3 seconds. Money, if used correctly, means that if you invest/buy something, you should earn from it. And when you earn from it, you buy bigger things or many smaller things, rinse, and repeat. No matter how small, over enough time, you will accumulate wealth. Time is your friend. 😮 That's how its done. 😅
Don't try to get rich quickly; get rich slowly. Easy to say but very hard to do. That means stop that three-dollar coffee, not because you are cheap or couldn't afford it but because it doesn't make you any money! That's the mentality, that's the methods. Something he failed to mention.
And yes, you can start doing this today! It is easier now than ever to buy/sell for marginal profits. Good luck! You know how to flip an item? How to make candles! How to sell drugs? Lol, Just kidding! 😅
Oh, and instead of buying lottery why not buy term life for your family. I mean if you gonna throw money away anyway. Do it while they are strong and healthy but never before 40 yrs. Trust me you might be surprise.
Where's your channel? This is the content I want to see
Here's the link to my channel: www.youtube.com/@missedfortune If you want a free copy of The LASER Fund you can get it here: www.laserfund.com