Is a mortgage all you need?
Most individuals will initially take a very compartmentalized approach when it comes to financing the house. Purchase a house, get a mortgage, and the mortgage is a necessary evil at best. Decisions are often made because of outdated belief systems in conjunction with the fear of the unknown. And most are simply unaware of what a truly powerful financial instrument the modern day mortgage is. And it’s not just our clients. It’s also the large institutions that are promoting product, not solutions. These institutions are focused on getting the deal done, not making a difference in people's lives, nor nurturing relationships.
Today, the mortgage is a commodity. We shop for commodities and like everyone else we want a good deal. However, what’s missing most is The Strategy. In fact a good deal on the wrong strategy over time could cost you hundreds of thousands of dollars.
Let’s take a look at our fiscal society. It is ironic that we are a nation of debt, yet we are focused on paying off the debt. We believe we’re focused on the wrong thing. Both our short and long term fiscal foundation should first be based on building wealth within the context of a financial plan, not solely focused on paying off debt. Just to be clear what is meant by "debt" we mean preferred debt such as a mortgage that is tax advantaged versus non-preferred debt such as credit cards.
What is your plan? And what does a mortgage have to do with this? The answer quite simply is everything. If a lending institution is going to create the largest debt you have on the largest asset you’ll own, don’t they have a fiscal responsibility to advise you on the impact your choices will make?
As Financial Educators and Strategists, we help our clients create a simple plan to achieve their short and long term financial goals. Our unique process provides fiscal literacy, smart advice and most importantly, a plan. You’re invited to experience our BlueSky™ process. It could be the cornerstone to helping you achieve your goals. Do you just need a mortgage or do you want a more comfortable retirement; a resource for future college expenses; to increase your overall wealth; maximizing your tax benefits; and protect the assets you work so hard to acquire?
