Each week, Doug Andrew posts new videos to his 3 Dimensional Wealth YouTube channel. Recently, he spent some time answering questions about real estate and how to get out of debt.
Many people believe that, when it comes to getting out of debt, sending extra principal payments to the mortgage company is a sound strategy. In fact, it’s a question that comes up whenever people are trying to determine how long it will take them to pay off their house.
While there are several different methods people might employ to pay off their mortgage more quickly, Doug has an explanation of a better alternative than those methods.
HERE’S A SNEAK PEEK AT JUST A FEW OF THE STRATEGIES DOUG COVERS IN THIS EPISODE:
- Is it possible to pay down your mortgage quickly and what methods actually work? Doug explains how many of these methods provide the illusion of a quicker payoff but come with a corresponding loss of opportunity.
- What benefit is there in taking out a 15 year amortized mortgage and then socking away what you would have paid following the payoff into a tax-deferred IRA or 401(k)? Doug outlines the options of what’s good, what’s better and what’s best.
- For those who save the money they’re no longer paying toward their mortgage, what makes tax-free accumulation so much more desirable than tax-deferred accumulation? Doug describes the power of tax-free saving combined with compound interest and how it can make major difference in your results.
- Would you benefit from a LASER fund? Doug explains the clear advantages of liquid assets safely earning predictable rates of return to help you prepare for your brighter future.
- What is the benefit of keeping the mortgage interest tax deduction rather than simply paying your mortgage off as quickly as you can? Learn how the tax money you’re saving can instead be put to work growing tax-free.
- How does accumulating money tax-free combined with compound interest enable you to pay your home off even faster than a 15 year amortized mortgage? Wait until you hear Doug’s simple but powerful explanation of how to get out of debt two and a half years faster without handing all that extra money to the mortgage company in the form of interest.
- And much, much more…
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