Why You DON’T Want to Pay Your Mortgage off Too Quickly!
Kim Butler and Todd Strobel set their sights on mortgages in this episode, analyzing different strategies by using the Prosperity Principles to uncover the best options. They discuss down payments, compare 15 vs 30 year mortgages, and tackle other questions to consider when getting a mortgage, with some surprising answers!
How big should your down payment be? Is a 15 or 30 year mortgage more efficient in the long run? What is the value of your cash down payment, or your cash flow? And is there value in “peace of mind”, even if it means choosing a less effective economic strategy? Find out in today’s episode of the Prosperity Podcast.
[0:41] Mortgages – the Largest Debt Many People Have (and greatly misunderstood)
[2:01] Questions to Ask… Your Cash has a Cost
[3:33] Considering the Amount to Put Down
[8:11] 15 or 30 Year Mortgages (and how to compare correctly)
[12:16] How to be More Prosperous by “Investing the Difference”
[17:03] Summary of Recommendations
Tweetables:What is your mortgage doing for you? What else could your cash be doing besides building equity in your home? Click To Tweet Are big down payments better? Not when you consider you do not control the equity in your home! Click To Tweet Compare both 15 and 30-year mortgage options over a 30-year timespan, looking at the whole picture of your personal economy. Click To Tweet We want to have cash flow that is invested in such a way that it flows money back to us. Click To Tweet
Get Your Prosperity Accelerator Pack Today! Sign up to receive our ebook, Financial Planning Has FAILED as part of your free Prosperity Accelerator Pack now. Real estate is one of the topics we cover as we compare “typical” financial advice with Prosperity Economics strategies.
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