He is saying invest the money and keeping it liquid and then pay off the house cash when you have the cash, Not by making extra payments or taking a shorter term note.
A better example with that $100 deposit is, they can turn around and loan out $900.00. Due to fractional reserve banking, a bank can loan out $9 for ever $1 it holds. It can pay you $0.02 per $100 and lets say they make back $1.00 per $100 they loan out, well they can make $9.00 on your $100 deposit and pay you $0.02 (just a rough example)
I like the video and agree with the concepts, but content of the video is sort of a bait-and-switch from the title. I thought we were going to learn how to pay off mortgage in 5-7 yrs without locking up money. What I'm hearing is that we should invest that money in investment(s) that earn a higher rate than the interest rate on the mortgage and then sell off the investment in a lump sum amount to pay off the mortgage (once the investment reaches critical mass). The issue is that this strategy can take an undefined amount of time (maybe 5-7 years, maybe 20 years, maybe 2 or 3 years, if we're really smart). I'm not against this strategy and think it's the best solution, but the title of the video is a little misleading.
I specialize in products that provide guarantees that will show you exactly when your home is paid off down to the month while maintaining 80% or better liquidity, control and tax free access.
I thought it was very clear. He said save up or invest your money and then dump the lump sum on the mortgage vs paying extra each month and not having access to your money
Once you invest money, it’s no longer liquid; furthermore, when you pull it out, you will have to pay capital gain tax. Also I don’t know of any investments that pay more than 5% other than stock, which he said was bad
Most beautiful explanation about nature of money. I like your style as it is not overbearing. Thank you. I respect you for your knowledge and humility. I am glad you do not exhibit false self-confidence. Some men here do a lot and I wish to run away. I am from Britain and we respect those who are humble!! Thank you for this great video.
I think what he's saying is that if you had an interest only loan and then took the amount you would normally pay in principle into the stock market and if that pumps you could pay off your mortgage in less time.
Ok. 1- back when this was filmed, interest rates were really low 2- you could have got a longer loan, 30 year or interest only. 3- take the savings and build up cash value (Cashflowbanking.gg) 4- maximize tax savings. Control of money. Earn more than you pay 5- take the growth and tax savings, pay off the loan. 6- would require taking more than just the savings, you would have to stop finding retirement plans, finance your cars differently etc all by using the cash flow index method. Pay minimum to all loans (refinance them into the mortgage if possible) and take the savings to find Cashflowbanking.gg policies. Restructure. Renegotiate internet rates.
I still owe about $300k on my mortgage. This year i had an extra $100k and used it to buy another rental property now that $100k is worth $130k. I’ll buy another rental property next year and keep buying properties as after a few years i can just sell one of those properties and pay off the mortgage on my primary home for good. Though its a great idea to pay off my mortgage early its not making the most potential out of that money.
I love this video! Cash is king, NOT EQUITY! I literally just told a buddy of mine who had a plan to send an extra thousand dollars to his mortgage NOT to do that and to do these strategies that you discuss in this video, after explaining it he told me he was so glad I saved him from making a huge mistake. Great Vid Garrett... Keep'em coming!
I just explained this method to my friend, a former loan officer. She told me in theory it could work. It is math. There are 3 variables but most people are stuck on interest rate. So irritating to educate some folks.
The only issue with that is that your buddy is a human. What if he keeps that cash then decides in 4 years to invest in some swamp land instead of sticking to the plan? Then he loses it all instead of having 100-200k in equity. So even if the math works in theory, in practice maybe not. Or the market could crash like this last year and you lose half your shit on paper the year you were planning on paying it off etc. It’s never as simple as the math when humans get involved.
@@markislivingdeliberately in the concept he is referring to, you do not lose your principal due to market movements. He is not referring to a stock market investing at all. He is talking about Infinite Banking concept.
No... No. Just no. That's not at all how interest or amortization works. Mortgages use simple interest just like any other debt. Amortization is just a term used to describe spreading out equal payments over a fixed period of time. That's it.
Have you thought about upping to mid-roll ads on 10+ minute videos? I think it would up your views and add revenue, which sounds to me like a win-win because more people need to see your content.
Your right Garrett. The Bank's does give you a lollipop to call you a sucker. And to add more insult to injury, some banks gives you a dums lollipop and this a covert way of calling you a dummy.
Amortized loans are like that and it really depends on what you can earn versus pay the bank. But keep control of your money. Maximize deductions. Pay it off if you want when you have the cash.
4-7 years… I thought this video was going detail on how to do that… I actually read your should I say listen to your book couple months back would love to see more detailed video
Make more money. There's no magic way to generate income. If you're one year into a 25 year, $400,000 mortgage, you'll need to earn $400,000 over the next 5-7 years over and above what you live on now.
I specialize in products that provide guarantees. We will show you exactly when your home is paid off down to the month while maintaining 80% or better liquidity, control and tax free access.
What's up Garrett, well spoken. I took the Velocity banking courses with Renatus along with your courses SOLID LIFE CHANGING EDUCATION. If anyone reads this and want a PDF just leave me a message. Happy Thanksgiving.
Great video and thanks for the info. My question is, once you have enough cash value in your policy to pay off your home, you take out the loan from the policy, pay off the home, then use the mortgage payments to now pay back the loan from the policy... Would you please explain how this would not be similar to paying twice, since you have to first save enough into your policy, then take out a loan to pay off the home, and pay back the loan.
He's not trying to sell you a policy, he's letting you know it's a better place to store your cash, as your own "bank". The reason he keeps bringing it up is because it's the foundation of his financial strategy. You don't lose liquidity as you put cash in, like you do paying off a house, you earn guaranteed uninterrupted interest, you get dividends on top of that, and you're always in control of when you can take the money out, unlike a line of credit where they can lower your limit without warning.
@@ariccb with these fancy life insurance policies your monthly premium magically generates cash value and dividends supposedly but it’s not invested in the stock market? Where do they invest your premiums if not the stock market? If so, how is it better than investing that premium in the stock market yourself? Monthly premium for a $500k 20-yr term life for a 40-year old is under $30. In the past 3 years my index fund Roth IRA portfolio is up almost 40% please explain how this is not better than the snake oil, so called cash value life insurance policies he’s selling?
@@castro8021 Hey Castro, i'm gonna try to reply with just some stuff that's informative, and you can take it or leave it, i'm not here to argue about what's best for you. Here's a video that explains where the insurance companies put the money from your premiums in order to make money. ruclips.net/video/GocjgPXtN0U/видео.html. Everyone knows term life insurance is cheaper, but you have to know it's because it's not an asset that you own. Term vs Whole life is analogous to renting vs having a mortgage - at the end of your life if you've rented the whole time, you won't have any asset that you can use, where when you own your home that asset is available to borrow against, sell, etc. The other thing you should understand about the whole life policy Gunderson is talking about is that you don't need to choose EITHER whole life OR investing in the stock market. Whole life is more like replacing your savings account at the bank, and acts sorta like a line of credit. When you have money available in your cash value inside the whole life policy (you've built up your savings account per se) you can use that money to put into the Roth IRA portfolio you're talking about, and benefit from that 40% return. In addition, while you have a policy loan out (pulling the cash value out of the whole life policy), that amount you borrowed from the whole life policy is still earning its guaranteed rate plus earning dividends, all at the same time as your Roth IRA is doing its work. So that explains why you don't need to choose one or the other.
I don’t believe so. An insurance company isn’t a bank, and most insurance companies aren’t trying to actively promote you taking cash out of your policy.
Watched the whole thing. Didn’t hear the strategy for paying the home off in 5-7yrs. Heard a lot of other stuff, but didn’t see that part.
I thought it was just me
He is saying invest the money and keeping it liquid and then pay off the house cash when you have the cash, Not by making extra payments or taking a shorter term note.
It ees called The Cleeck Bait.
I think he's saying to be a banker
thanks, i didnt want to watch all of this horse sh-it. Simple answer pay more to principle and call it a day.
A better example with that $100 deposit is, they can turn around and loan out $900.00. Due to fractional reserve banking, a bank can loan out $9 for ever $1 it holds. It can pay you $0.02 per $100 and lets say they make back $1.00 per $100 they loan out, well they can make $9.00 on your $100 deposit and pay you $0.02 (just a rough example)
Sad but true. That's the way they work. Invest in something profitable and make your $$$, crypto is a good way to go for the future
Loaning out money that doesn't exist is legalized fraud. The whole banking system is rotten to the core.
I like the video and agree with the concepts, but content of the video is sort of a bait-and-switch from the title. I thought we were going to learn how to pay off mortgage in 5-7 yrs without locking up money. What I'm hearing is that we should invest that money in investment(s) that earn a higher rate than the interest rate on the mortgage and then sell off the investment in a lump sum amount to pay off the mortgage (once the investment reaches critical mass). The issue is that this strategy can take an undefined amount of time (maybe 5-7 years, maybe 20 years, maybe 2 or 3 years, if we're really smart). I'm not against this strategy and think it's the best solution, but the title of the video is a little misleading.
I specialize in products that provide guarantees that will show you exactly when your home is paid off down to the month while maintaining 80% or better liquidity, control and tax free access.
Did he actually say anything about paying off your mortgage in 5-7 yrs?
Side fund. Maximize deductions. Pay off all at once when the side fund has enough. .
Great video...though I think I missed the part about paying it off in 5 to 7 years.
I thought it was very clear. He said save up or invest your money and then dump the lump sum on the mortgage vs paying extra each month and not having access to your money
Once you invest money, it’s no longer liquid; furthermore, when you pull it out, you will have to pay capital gain tax. Also I don’t know of any investments that pay more than 5% other than stock, which he said was bad
@@yakzivz1104 Have you ever heard of "note" investing? I know of notes paying 12-18% interest and they're secured.
@@selfbenel nope I've never heard of this concept; I will have to check it out.
I guess I fit for both worlds. Pay extra and build up my saving to pay bigger amount for years later
That was a long convoluted presentation about monetary common sense! Exactly what part of that had to do with paying your house off early?
Most beautiful explanation about nature of money. I like your style as it is not overbearing. Thank you. I respect you for your knowledge and humility. I am glad you do not exhibit false self-confidence. Some men here do a lot and I wish to run away. I am from Britain and we respect those who are humble!! Thank you for this great video.
That is very kind of you to say.
So what's this strategy again?
Holy moses man, you condensed about 10 videos into this one. High energy. Catchy. Another good one!
I think what he's saying is that if you had an interest only loan and then took the amount you would normally pay in principle into the stock market and if that pumps you could pay off your mortgage in less time.
At what time in this video where how to pay off a home mortgage in 5-7 years was shown or explained in an example ? Mostly emotional video.
Ok.
1- back when this was filmed, interest rates were really low
2- you could have got a longer loan, 30 year or interest only.
3- take the savings and build up cash value (Cashflowbanking.gg)
4- maximize tax savings. Control of money. Earn more than you pay
5- take the growth and tax savings, pay off the loan.
6- would require taking more than just the savings, you would have to stop finding retirement plans, finance your cars differently etc all by using the cash flow index method. Pay minimum to all loans (refinance them into the mortgage if possible) and take the savings to find Cashflowbanking.gg policies. Restructure. Renegotiate internet rates.
Did not hear how to pay down your mortgage. Video wasn’t helpful.
WARNING : DONT waste your time here . Its not about the title ..
In the future I'll have to connect to title and improve. Sorry.
I still owe about $300k on my mortgage. This year i had an extra $100k and used it to buy another rental property now that $100k is worth $130k. I’ll buy another rental property next year and keep buying properties as after a few years i can just sell one of those properties and pay off the mortgage on my primary home for good. Though its a great idea to pay off my mortgage early its not making the most potential out of that money.
I love this video! Cash is king, NOT EQUITY! I literally just told a buddy of mine who had a plan to send an extra thousand dollars to his mortgage NOT to do that and to do these strategies that you discuss in this video, after explaining it he told me he was so glad I saved him from making a huge mistake.
Great Vid Garrett... Keep'em coming!
I just explained this method to my friend, a former loan officer. She told me in theory it could work. It is math. There are 3 variables but most people are stuck on interest rate. So irritating to educate some folks.
The only issue with that is that your buddy is a human. What if he keeps that cash then decides in 4 years to invest in some swamp land instead of sticking to the plan? Then he loses it all instead of having 100-200k in equity. So even if the math works in theory, in practice maybe not. Or the market could crash like this last year and you lose half your shit on paper the year you were planning on paying it off etc.
It’s never as simple as the math when humans get involved.
@@markislivingdeliberately in the concept he is referring to, you do not lose your principal due to market movements. He is not referring to a stock market investing at all. He is talking about Infinite Banking concept.
There is a difference between amortization and simple interest. 4% amortization translates to 110% simple interest.
No... No. Just no. That's not at all how interest or amortization works.
Mortgages use simple interest just like any other debt.
Amortization is just a term used to describe spreading out equal payments over a fixed period of time. That's it.
Some great insight into everything... apart from a strategy on paying off mortgage on a shorter term...
Glad it was mostly helpful 😉
I click on his link and call the phone number and scheduled an appointment to talk to an advisor and they want to sell me life insurance
Guess what? They're life insurance agents....
2 years later.....Still waiting on how to pay off mortgage in 5-7 years LOL
Don't get a mortgage- lol
JAJAJJAJA THAT IS FUNNY 😆 ABOUT THE SUCKER😊😆 I WILL ALWAYS REMEMBER THIS SO TRUE ☺️😅🥰
Thanks.
Have you thought about upping to mid-roll ads on 10+ minute videos? I think it would up your views and add revenue, which sounds to me like a win-win because more people need to see your content.
Just get youtube premium
Equity Gel: You have explained what goes on in my head.
Jail...no gel.
Your right Garrett. The Bank's does give you a lollipop to call you a sucker. And to add more insult to injury, some banks gives you a dums lollipop and this a covert way of calling you a dummy.
I just don't like paying the banks so much money in interest. It's basically like your paying the home twice over. In 30 years.
Amortized loans are like that and it really depends on what you can earn versus pay the bank. But keep control of your money. Maximize deductions. Pay it off if you want when you have the cash.
@@GarrettGundersonTV thanks I'm finally learning about this.
Giant advertisement. Completely nothing to do with the video title.
4-7 years… I thought this video was going detail on how to do that… I actually read your should I say listen to your book couple months back would love to see more detailed video
Make more money. There's no magic way to generate income. If you're one year into a 25 year, $400,000 mortgage, you'll need to earn $400,000 over the next 5-7 years over and above what you live on now.
I specialize in products that provide guarantees. We will show you exactly when your home is paid off down to the month while maintaining 80% or better liquidity, control and tax free access.
very confusing.
Some people just want things spoon fed to them. There's no desire to learn
In Forbes you said it was stupid, now you're contradicting yourself. Being a landlord with a mortgage is stupid and risky.
You have a lot of knowledge....but its overwhelming psychologically for most people.
Sir, you truly lost my brains attention that I clicked off the video. Confusing. Nonsense!
Sorry to hear that. I'll do better!
He is talking about life insurance!
Damn him!
Banks give you a Lollipop to let you know your a Sucker 😂
That's right....a dum dum sucker to boot!
What's up Garrett, well spoken. I took the Velocity banking courses with Renatus along with your courses SOLID LIFE CHANGING EDUCATION. If anyone reads this and want a PDF just leave me a message. Happy Thanksgiving.
Need that!
Please share!
@@analoera2536 hi, here is the PDF leosotx247.kartra.com/page/dive
@@maisthatsdenzel hi here is the PDF Happy Thanksgiving leosotx247.kartra.com/page/dive
Great video and thanks for the info. My question is, once you have enough cash value in your policy to pay off your home, you take out the loan from the policy, pay off the home, then use the mortgage payments to now pay back the loan from the policy... Would you please explain how this would not be similar to paying twice, since you have to first save enough into your policy, then take out a loan to pay off the home, and pay back the loan.
I think he meant invest what you would pay extra on your mortgage then cash it out and pay lump sum in 5-7 years.
Sloooooow Dooooown some
THANK YOU FOR THIS VIDEO!
Can I lend microloans to inviduals, and we both save? Enough microloans could fund a home!!
Before I watch this I’m gonna go out on a limb Abe guess that he is gonna mention scarcity
You were all over the place dude. Focus on one thing.
You are right. Working on it
You talk fast. I'll watch again.
It comes from my passion. Thanks for the reminder to slow down.
Why everything has to be about some fancy life insurance policy? every goddamn video yo!
He's not trying to sell you a policy, he's letting you know it's a better place to store your cash, as your own "bank". The reason he keeps bringing it up is because it's the foundation of his financial strategy. You don't lose liquidity as you put cash in, like you do paying off a house, you earn guaranteed uninterrupted interest, you get dividends on top of that, and you're always in control of when you can take the money out, unlike a line of credit where they can lower your limit without warning.
@@ariccb with these fancy life insurance policies your monthly premium magically generates cash value and dividends supposedly but it’s not invested in the stock market? Where do they invest your premiums if not the stock market? If so, how is it better than investing that premium in the stock market yourself? Monthly premium for a $500k 20-yr term life for a 40-year old is under $30. In the past 3 years my index fund Roth IRA portfolio is up almost 40% please explain how this is not better than the snake oil, so called cash value life insurance policies he’s selling?
@@castro8021 Hey Castro, i'm gonna try to reply with just some stuff that's informative, and you can take it or leave it, i'm not here to argue about what's best for you. Here's a video that explains where the insurance companies put the money from your premiums in order to make money. ruclips.net/video/GocjgPXtN0U/видео.html. Everyone knows term life insurance is cheaper, but you have to know it's because it's not an asset that you own. Term vs Whole life is analogous to renting vs having a mortgage - at the end of your life if you've rented the whole time, you won't have any asset that you can use, where when you own your home that asset is available to borrow against, sell, etc. The other thing you should understand about the whole life policy Gunderson is talking about is that you don't need to choose EITHER whole life OR investing in the stock market. Whole life is more like replacing your savings account at the bank, and acts sorta like a line of credit. When you have money available in your cash value inside the whole life policy (you've built up your savings account per se) you can use that money to put into the Roth IRA portfolio you're talking about, and benefit from that 40% return. In addition, while you have a policy loan out (pulling the cash value out of the whole life policy), that amount you borrowed from the whole life policy is still earning its guaranteed rate plus earning dividends, all at the same time as your Roth IRA is doing its work. So that explains why you don't need to choose one or the other.
Because that's core to their business model: sell you life insurance.
He's talking too fast for me. I'm trying to learn about finance.
I tend to talk fast when I am passionate about something and I am pretty passionate about finance.
Garrett looking like story book Jesus. Thanks for this information.
Misleading sorry man.
Can you get a debit card with a over-funded WHOLE LIFE product and pay bills out of it?
I don’t believe so. An insurance company isn’t a bank, and most insurance companies aren’t trying to actively promote you taking cash out of your policy.
Why would you want to do that? Why are you people so obsessed with giving your money away to insurance companies for fake dividends?
Get on with it you're wasting my time
I hear you.
man alive Jesus can talk the hind legs off a donkey
Get to the point quicker next time, too much blah blah blah.
Yes. I hear you.
Good contents, well explained, just a bit long. Some visual cues would enhance your insights, thanks!!
Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today.
Most intelligent words I've heard.
Crypto is the new gold
I wanted to trade Crypto but got discouraged by the fluctuations in price
I heard that his strategies are really good
@@user-hp2xf5wg3y Yeah, My first investment with Richard Moore earned me profit of over $25,530 US dollars, and ever since then he has been delivering
What a waste 😭
Ouch