How to Pay off Your Mortgage Faster (The Truth)

[@SchoolofPersonalFinance]

Here is a link to the mortgage calculator!! Shout out to @Kirk McGurk for finding it. www.guardianmortgageonline.com/news-resources/Calculators/Basic-Mortgage-Calculator Always a hard choice to pay down the mortgage or invest...I would rather invest and keep paying the normal payment on my mortgage. I think I will focus on it a little later on in life.

[@kevinburt8638]

I have a HELOC and 8 credit cards at 0%

[@martytrujillo5082]

@@kevinburt8638 that is a beeautiful thing Kevin!!!

[@maryamber7496]

@@kevinburt8638 email gina@creditmasterfixllc,com she would help you increase your credit score

[@martytrujillo5082]

You will pay double for your property with that strategy!

[@craig659]

If you had a $400,000 home would you take out $100,000 from your equity to invest into the stock market that answer would be "no" because their is risk in the stock market, paying off home principal is a 100% guarantee on your money. You cant beat that and a paid off mortgage!

[@Riggsnic_co]

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

[@bob.weaver72]

If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.

[@martingiavarini]

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

[@TheJackCain-84]

I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?

[@martingiavarini]

When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.

[@TheJackCain-84]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@FennaVa]

My payment was $2415 month. We would pay an extra $500 a month towards the principal. We currently just refinanced to get a lower interest rate and to get off of PMI. Our new monthly payment is $2915 a month. We plan on still paying $3700 a month but are now going to do bi-monthly payments.

[@ralfbrown-kl1gp]

Instead of extra payments, I suspect you would be better off putting the $782 per month into shares of Apple and Amazon. The video more or less describes how you can get out of being a debt slave When you have cash you have options. Smart people hold on to cash. They don't instantly shove it toward debt. Once it is used to pay on the debt, it is no longer accessible.

[@marcellasilva4015]

One part of this vid that I do like is the idea of not taking on a large debt in the first place. I think there should be a balance between the amount of debt you incur and the amount of cash you can invest. I would rather have a $1000 house payment and $1000 going into stocks than a $2000 house payment and no stocks. If you have cash and you’re confused I will suggest you contact a finance advisor

[@Macedon222]

@@ralfbrown-kl1gp You should be doing both investing in shares and contributing to your mortgage “if you have one that is” Like the video says it's about reducing the compound interest that you get hit with over the life of the loan.

[@oliverdavis-tw2xl]

@@marcellasilva4015 Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?

[@oliverdavis-tw2xl]

Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?

[@TinaMyles]

It's time to acknowledge that a return to 3% mortgage rates may be unrealistic. If homeowners are forced to sell, we will likely see a drop in home prices, leading to lower property valuations. I know I'm not the only one who shares this outlook""

[@Erikkurilla01]

If you're in the market, now is the time to buy. Home prices are unlikely to decrease further, and if interest rates do decline in the future, refinancing is always an option_

[@jessicasquire]

In my opinion, home prices need to decrease by at least 40% before the market finds balance. For those unsure about buying property right now, seeking advice from an experienced financial advisor for optimal portfolio allocation is crucial. This approach has worked for me-I’ve managed to stay profitable over the past five years, accumulating nearly $1 million in investment returns.

[@KentBrono]

That's impressive! I'd be happy to share more details. I understand the hesitation, especially when it feels like many firms offer similar services. However, finding a trustworthy advisor has been key to my success.

[@jessicasquire]

Julianne Iwersen Niemann has consistently been my top recommendation. She’s widely recognized for her expertise in financial markets and has a strong track record. I highly recommend her...

[@jessicasquire]

JULIANNE IWERSEN NIEMANN

[@Rochelletrem]

I paid up all my mortgages in 2yrs while working with a Financial Adviser. I’m 50 and my husband 54 we are both retired with over $3 million in net worth and no debts. We got to realize that the secret to financial freedom is making better investments.

[@philipr1759]

That is so amazing, I’m trying to get onto the investing ladder at 40. I wish at 55 I will be testifying to similar success..

[@DavidRiggs-dc7jk]

There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.

[@theresahv]

Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.

[@berkrix4312]

@@theresahv That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?

[@theresahv]

Finding financial advisors like Julie Anne Hoover who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@instinctively_awesome8283]

50 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.

[@Robertgriffinne]

Nobody knows anything you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.

[@Alejandracamacho357]

I agree, that's the more reason I prefer my day to day invt decisions being guided by a init-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a init-coach for over 2years+ and I've netted over 2.8million.

[@PhilipMurray251]

@@Alejandracamacho357 I actually subscribed for a few trading courses but it didn't help much, been getting suggestions to use a proper financial advisor, how did you go about touching base with your coach?

[@Alejandracamacho357]

@@PhilipMurray251 The thing is that I really don't like making such recommendations. But there are many freelance wealth managers you could check out. I have been working with "Deborah Sue Bohn " for about four years now, and she's made decent returns. If she meets your discretion, then you could go ahead.

[@PhilipMurray251]

@@Alejandracamacho357 I looked up your advisor's full name and she appears to be trustworthy and knowledgeable. She is a fiduciary who acts in any individual's best interests. So I left a message on her website, and I'm hoping she responds soon.

[@Raymondjohn2]

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

[@martingiavarini]

If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.

[@hermanramos7092]

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

[@bob.weaver72]

@@hermanramos7092 I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?

[@hermanramos7092]

@@bob.weaver72 Personally, I can connect to that. When I began working with “Catherine Morrison Evans’’ a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.

[@bob.weaver72]

@@hermanramos7092 I am on her site doing my due diligence. She seems proficient. I wrote her an email and scheduled a phone call. Thanks for sharing

[@ChristopherAbelman]

I’ve been diligently working, saving and contributing towards financial freedom and paying off my high interest mortgage, but the economy so far since the pandemic has eaten away most of my portfolio, what I want to know is this: Do I keep contributing to my portfolio in these unstable markets or do I look into alternative sectors.

[@PennyBergeron-os4ch]

Just try to diversify your portfolio to other market sectors, that way your investment is balanced and you don’t get to make so much losses.

[@FinnBraylon]

Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2020, and I return at least $30k ROI, and this does not include capital gain.

[@JosephineKenney]

Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.

[@FinnBraylon]

For me, Sonya Lee Mitchell turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.

[@JosephineKenney]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

[@SheilaYilmas]

Presently, mortgage rates have reached their highest point since the year 2000, spanning a period of 23 years. Considering inflation trends, there's a possibility that this figure might continue to escalate. To provide context, the 30-year fixed rate was only at 5% around this same time last year. Faced with this scenario, the question arises: should I continue waiting in anticipation of a potential housing market downturn before making a purchase, or is it more prudent to shift my attention towards the equity market?

[@ScottRich9]

Similar to any other investment avenue, the stock market requires a substantial level of expertise to sustain profitability. While my approach has predominantly involved buying and holding stocks, my portfolio has been in a state of decline for a considerable period. Achieving substantial gains necessitates consistency and the periodic restructuring of your portfolio to adapt to market dynamics.

[@MarioRo1]

I believe that holding was comparatively simpler in the 1960s, and the landscape has become more complex nowadays. Those who consistently generate gains in the present era are often seasoned pro. This is why, for the past five years, I've enlisted the services of a fiscal guide. Their expertise has been instrumental in consistently building and managing my portfolio, with an eye toward securing my fiscal

[@OlgaRusov]

I fully recognize the significant advantages of collaborating with a pro, but thus far, I haven't identified the right one for myself. Could you provide more details about the fiscal guide who has been guiding you?

[@MarioRo1]

I've enlisted Stacey Lee Decker as my fiscal guide, and her expertise contributes significantly to the fiscal industry. Acknowledged as a reputable authority in the field, she holds a deep understanding of portfolio diversification. I encourage further exploration of her credentials. With her extensive experience, she proves to be an outstanding guide for those aiming to grasp the complexities of the fiscal market.

[@HakimZakzi]

Stacey appears to be really knowledgeable. Her resume, educational history, and qualifications were all quite good when I found her internet page. She will act in my best interests because she is a fiduciary. I thus scheduled a session with her.

[@jessicaglover7442]

I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it's ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point

[@carlosjohnson5457]

Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in-depth market knowledge.

[@clementhart760]

It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro.

[@carlosjohnson5457]

@@clementhart760 The reason I decided to work closely with a brokerage adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had a brokerage adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.

[@jessicaglover7442]

@@carlosjohnson5457 Hi, please who is the expert assisting you and how do I reach out to them?

[@carlosjohnson5457]

My financial advisor, *MARTHA ALONSO HARA* , is a highly qualified and experienced professional in the financial market. She possesses a broad understanding of portfolio diversification and is recognized as an expert in this field.

[@alexsteven.m6414]

Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market

[@brantheeskimo]

True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.

[@NorthCarolinaForward]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.

[@PennyBernadette]

my partner’s been considering going the same route, could you share more info please on the advisor that guides you.

[@NorthCarolinaForward]

"Rebecca Nassar Dunne" is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@type-r3x]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

[@washingtonconsultants1041]

I paid off my mortgage last year. Yippie!. No more debt for me

[@LukeDiogo]

The collapse of Margin debt leads to a decrease in stock prices and trigger a wave of selling as investors try to cover their losses, Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $145K for sometime now, my major challenge is not knowing the best entry and exit strategies ... I would greatly appreciate any suggestions

[@LehmannAlicia]

I'll suggest you find a mentor or someone with experience guide you especially in this recession. especially for your 401K, IRA and portfolio diversification.

[@LukeDiogo]

@@LehmannAlicia I agree, I thought I was doing alright profit wise, until I needed assistance with diversification, I reached out to a financial advisor and in less than a year I was just $51,000 shy away from $640k which is like 7x more than I make on my own..

[@LehmannAlicia]

@@LukeDiogo I've been thinking of going that route been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, think your Inv-coach could guide me with portfolio-restructuring..

[@LukeDiogo]

@@LehmannAlicia I've shuffled through a few advisors in the past, and KRISTIN GAIL CUNNINGHAM remains the most resourceful thus far. Her strategy proves profitable, and sustainable both in a bull & bear market. Most likely, her deets can be found on the net, so you can confirm yourself.

[@LehmannAlicia]

@@LukeDiogo I just looked her up on the internet and looked into her credentials. I wrote her a letter outlining my financial objectives and planned a call with her

[@johndeanconway7931]

Great content as usual, I loved this as I am about to invest in uk property with 70k deposit (plus fees and more savings for furnishing and decorating) to buy my own place, but I am also treating it as my fourth investment, having two spare rooms for lodgers to cover this property mortgage and tax costs... and to build my equity whilst working my day job for my next investment. Thanks for all your advice!

[@jadecarson5081]

First, Jessica you need to have a salary of at least 25k before you will be considered for a mortgage, that you need for properties. If you want to achieve a 75% yield yearly, try looking out for an investment management coach or else you will be competing against professionals themselves.

[@donnahensley2459]

Generating returns are usually phenomenal. What would have been really interesting would be a proper breakdown showing their costs , services, investors return..

[@jadecarson5081]

That's an intentional way to live, that's the only way to become debt free. I've already paid off two previous mortgages. Now I'm working on my third and I cannot wait since it has to happen before retirement in four years and I'm already getting there the proficient way, Luckily for me my trader and coach Frost Hilda has been using every opportunity to ensure I benefit from each turn the market takes. Good luck staying debt free as much as possible in the future.

[@davegustavo4726]

I like the reward tip Jade! My husband and I are working on paying off our mortgage fast, and I think that will help motivate us. I can't wait to be mortgage free! We have a plan, and should be able to get there in 5 years or so, with extra effort.

[@mikenorman5172]

I’m not a full time property developer , but I’m doing the investing business the right way now, using a marketcoach security keeps you well informed and also strengthen your interest on the long run. It’s their profession, all you need do is share a few percentage and you are on green!

[@darnellcapriccioso]

I'd be retiring or working less in 5 years and I'm only curious how people split their pay, how much of it goes into savings, spendings or investments?? I earn around $165K per year but nothing to show for it yet

[@tatianastarcic]

As with any big financial decision , it’s important to keep your guard’s up for economic risks. However, smart planning ,time management and seeking advise from a financial adviser can help keep you and your money safe.

[@maiadazz]

@@tatianastarcic Yes i agree and right now the markets are going berserk right now. This is the best time to watch them, get to know them better, and strike when the opportunity presents itself. I learned that from my mentor, Nicole Joi Anderson, a CFA, she's seen dozens of market cycles over the past few decades, and she has a feel for how they move, why they move, and what comes next.

[@richardhudson1243]

@@maiadazz I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?

[@maiadazz]

​@@richardhudson1243 My advisor is Melissa Scott Glazner, she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@corneliuswal]

Subscribe to dave ramsey, he'll get you on track

[@GillerHeston]

For newbies, be aware that this is a grossly oversimplified scenario. For one thing, you can't get a mortgage on an investment property without at least 25% down payment. Two, it's easy to see comps for house purchase prices, but it takes a lot of research to understand the comps on rent prices. The trick is to find a place where renting is more expensive than buying, but those places are less common because of this very type of scenario. Three, you have to remember that rent number he's using is supposed to be net income, not gross. So you have to think about costs for taxes, insurance, maintenance and vacancy when you're researching investments. All that said, real estate investing is a good tool for wealth accumulation. But it isn't foolproof.

[@harwellron1289]

Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.

[@rogerwheelers4322]

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

[@joshbarney114]

Personally, I can connect to that. When I began working with Colleen Janie Towe’’ a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.

[@eloign7147]

@@joshbarney114 Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.

[@joshbarney114]

@@eloign7147 You can quickly do a web check where you can connect with her, and do your research with her full names mentioned earlier..

[@bonnenaturel6688]

I have listened to other videos and they are boring and long and have too many details. This video is concise and clear. Thanks!

[@ddeboy002]

Paid off my mortgage in 6 years. took out a second mortgage and invested it into tesla. Made over 20k percent and paid off my house and became a millionaire at the same time.

[@esther.74]

A crash in the stock or real estate markets has less of an immediate impact on people's standard of living than inflation. That the market is so negative at the moment shouldn't be shocking. If we are to survive in this economy, we need assistance right away. The ETF and stock markets are still quite volatile, just like the property market. Now all that's left of my $370,000 portfolio is ruins.

[@talented009]

Many people are still getting fantastic returns on their investments during this time. Simply maintain a strong sense of reality or ask for professional assistance.

[@Adukwulukman859]

You will need a reliable FA to help you through the current market turmoil. I've been talking to an advisor for a while now, mostly because I lack the knowledge and energy to deal with these ongoing market conditions. I made more than $320K during this slump, demonstrating that there are more aspects of the market than the average individual is aware of. Having a Financial consultant is now the best line of action, especially for those who are close to retiring

[@ThomasHeintz]

@@Adukwulukman859 That does make a lot of sense, good for you though, unlike us, you seem to have the Market figured out. Who is this consultant?

[@Adukwulukman859]

I've spared myself the hassle that a disorderly market brings. Because of my line of work, I am unable to manage my portfolio, so I simply mimic the trades of Elise Marie Terry, a Financial consultant I watched on Bloomberg Business News. These days, the best approach to enter the market is through reading, researching, being patient, and getting advice when necessary. After that, everything went smoothly.

[@DarleneMurphy774]

@@Adukwulukman859 Found her webpage by looking up her name online. She seems very proficient.

[@Pelham04]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800. Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting.! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer.

[@Donnafrank-k6e]

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

[@Pelham04]

@@Donnafrank-k6e However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments

[@Donnafrank-k6e]

@@Pelham04 Oh please I’d love that. Thanks!.

[@Pelham04]

@@Donnafrank-k6e Clementina Abate Russo is her name.

[@Pelham04]

Lookup with her name on the webpage.

[@Jamespearson698]

Just what I needed to watch. My wife and I are directors of our farm business and own property, plus small pensions. I am nearly 55, my wife is 52. We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably, let’s say $1M.

[@CraigMitchell376]

Find stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance a broker or financial advisor.

[@Stanleytucci819]

Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.

[@Stanleytucci819]

my financial advisor is DIANA LUISE HINES. A middle aged lady from USA who really knows her stuff

[@KalebWhite816]

@@Stanleytucci819 Thank you for this amazing tip. I just looked the name up, wrote her explaining my financial market goals and scheduled a call

[@debbieframpton3857]

I took a 30 year mortgage paid off in 14 years best thing I ever did

[@j_castle9893]

Did you do double payments or something else

[@markrothenberg9867]

Good for you. Me too…I paid my mortgage every 2 weeks, with my pay check, so I paid 26 times per year. In addition, I paid $50 more every 2 weeks plus an extra house payment annually. And I put a couple of thousand dollars with my annual bonus. So an extra $5k annually. I was able to cut the amount of interest in half and pay off my mortgage 8 years early. It’s easy when you just pay a little extra every month.

[@j_castle9893]

@@layy8069 since you went through it do you think this is a good idea Putting a down payment of 100k And set up a payment plan of 1100 every 2 week for a few years

[@hatsapp639]

What is the best way to make money from investing in crypto at the moment?

[@admin....947]

Yeah that's right I think the best way is to invest with a professional, at least it saves the trauma of too much losses. This just surprised me because I also invest with Karen Clara

[@Alternatezoid]

Picking between paying my mortgage early or investing was nerve-wracking at first but being an avid reader, I came across a report by Northwestern Mutual on the same topic and found that if I choose to put a lump sum into solid investments, I am more likely to have a higher balance over time. Being a novice at the time, I saw that as a queue to get into the market. That was quite the turning point in my finance.

[@Alternatezoid]

@Inthemoment830 As I said, I was a novice when it came to investing before I got to know an astute fund manager, Herman W Jonas, who is guiding me through the process. I put in $35k as capital spread across stocks(etfs, index funds,) and forex with his guidance and I’ve made a return of $113k within the investing span. I'm slowly but perfectly building my portfolio by putting money into the market at a consistent pace.

[@Haddlly]

I’m somehow on tertiary levels but still close to one year of constant investing with Herman as his competence is second to none. Great platform for newbies and retail investors alike.

[@Haddlly]

@Ughatton Sure, Hermanw jonas (a g mal comm

[@JG-mt3rp]

Do people ever fall for this dumb shit? 😅

[@funstuffonthenet5573]

Yeah. I knew this when I bought a home. But what I neglected to do was compare it to the cost of renting. Now I have buyers remorse

[@DavidAntony-gq7id]

Smaller, speculative stocks have endured a historically weak stretch. Investors are betting that a turnaround is finally in the works. I’ve lost about $320k within a few months, how do i take advantage of the market turnaround?

[@MarcusFred-wn3iv]

There are many interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell stocks.

[@DavidAntony-gq7id]

@@MarcusFred-wn3iv Having an investment adviser is the best way to go about the stock market right now, especially for near-retirees, I've been in touch with a coach for a while now mostly and I made over $800K within a short time

[@MarcusFred-wn3iv]

@@DavidAntony-gq7id That's impressive! I could really use the expertise of these advisors. how can I get to your advisor?

[@DavidAntony-gq7id]

@@MarcusFred-wn3iv renowned for her proficiency and expertise in the financial market, *KRISTIN GAIL CUNNINGHAM* my financial advisor, holds a broad understanding of portfolio diversification and is recognized as an authority in this domain.

[@MarcusFred-wn3iv]

@@DavidAntony-gq7id I Found her online page by searching her full name, I wrote her an email and scheduled a call, hopefully she responds

[@werebreakingfree236]

15 year mortgage here. i just wish i did it years ago. we have made more progress in 6 months than 2 1/2 years on a 30 year. decided to live like collage students for 5 or 6 years to change the rest of our lives. great content bty keep telling the truth

[@SchoolofPersonalFinance]

Awesome!!! A little sacrifice goes a long way! Keep at it. Thanks for your comment 👍

[@stockstnt8]

So true

[@Hebrew-Nation1]

What was your strategy that helped you?

[@MarkNokesGuitar]

Thanks. This is exactly what I've been doing and I'll have my 30 year mortgage paid off in around 12 years total. The important thing that I realized several years ago is that making additional monthly payments accelerates it much faster that annual lump sum payments. Thanks for explaining that for everyone! Wishing everyone the best!

[@MechAdv]

You also made the correct choice to be born soon enough to have bought a home during the best time in 20 years to have bought a home. If I would have known how badly the market was going to skyrocket after 2018, I would have focused on getting a mortgage on an affordable home with a good rate, then gone to engineering school later. I could have bought the house I’m renting for $150k at 3% in 2014, today it is 500,000$ at 7%. My annual income as a full time auto mechanic was roughly $50k, my salary as a mechanical engineer is $90k. School doesn’t seem like it was the best investment nowadays. lol

[@joshc7655]

@@MechAdv unfortunately it usually never is

[@MechAdv]

@@joshc7655 Well now that the economy is fucked and cost of living is through the roof, I definitely couldn’t afford to live on 50k/year in 2022. So 6 of one half a dozen of another. Being a millennial is just a never ending financial battering.

[@joshc7655]

@@MechAdv we’re all screwed

[@Dbb27]

@@MechAdv when I started out we bought a $43,000 house but the payment took a third to half of our monthly income. Interest was at 14.5% and had come down from 18.5% two years before. It’s all relative. People also spend money on a lot they don’t need. We seldom did dinner out and didn’t pay for cable. Don’t pay now either. My ‘rabbit ears’ give me over 100 stations. I pay for internet only and around $80 a month. I don’t buy things on credit. I either have the money or don’t.

[@gerriebell2128]

I like that you explain things clearly and don’t have any flashy tricks. It’s just good financial sense.

[@SchoolofPersonalFinance]

Thanks Gerrie!

[@dougmoore5252]

My spouse and I paid of our conventional mortgages in both our houses. By reducing the amount owed, we got encouraged to increase the amount we paid and we could see it, the amount owed reduce and it really got easier in our minds as we paid about a thousand dollars extra each month.

[@Finx436]

Congrats guys

[@PsychoKillerJonny]

I know this is a 3 year old video, but thank you so much for this. I don’t have parents to teach me this stuff, and school didn’t even touch on finances. I’m closing on my first house today at 24 years old and you sharing your knowledge really puts me at ease and motivates me at the same time! Thanks again!

[@SchoolofPersonalFinance]

Thanks for your comment and congrats on your new home!!

[@nardianward-white5423]

It just transfer of learning. It's basic Math, and common sense.

[@monkeyoperator1360]

and if they ever give you that first month of no payments if you can make a payment cause that will also go straight to principle

[@bluceree7312]

You just need a brain.

[@CchanelMmay]

Congrats on your 1st 🏠

[@musicmayer2043]

Summary of Video - Alternatives to "Velocity Banking": 1. Pay more money towards PRINCIPAL of mortgage 10:19 2. Make bi-weekly mortgage payments = 1 extra month per year of payments 10:43 3. Pretend to have a 15 yr mortgage and make payments accordingly. In months you do not have enough, pay as little as your actually mortgage payment 11:10 4. Refinance to a lower interest rate...factor in cost to do so vs savings, short vs long term 11:34 5. Use your saved up emergency cash to pay your mortgage but keep your HELOC as your emergency funds instead 12:20 My bottom line summary of the above is, except for #3, use extra cash to pay down principal on mortgage.

[@hipmoma]

should you set up a HELOC before you start paying extra money into the principal? or is that even possible?

[@musicmayer2043]

​@@hipmoma A HELOC can be created at any time but it is easiest to do so when first getting a mortgage or at renewal. The reason is because an appraised value of the property is needed, as it determines the max amount of the HELOC. Also, the increasing value of the property does not factor into the max amount of the HELOC until a new appraisal is performed. Also, any time the structure of a mortgage is changed, you have to re-qualify for that mortgage structure. If life circumstances have change, this may affect your qualification.

[@hoebo54]

This velocity banking is not hard, but requires you to be diligent. Agree with the video but it’s worth doing as you can save Hundred of thousands of dollars. Better spent time doing this than shopping for deals or cutting coupons

[@Icehso140]

4 years into my 1st mortgage I took a challenge and paid it off in 7 yrs 3months and 14 days. Any "extra" money I had I put on the principal. I restructured once to reduce the payment, but it increased the interest to principal ratio back up again to 60:40. We lived off one check and used my check to pay on the principal until it was gone. Last payment was on Oct13th...wife's B-Day was on Oct 14th. Nice present. My total payments were far less than the value of the house today. Lastly...stay away from Bi-Weekly scammers out there. They charge a fee for what you can do yourself for free. They take your money and hold it until they feel like paying your mortgage.

[@Dbb27]

Very cool! Happy Birthday to your Mrs! Great gift, thank you for sharing your story.

[@juanestopinan3250]

Quicken loans does the bi-weekly for free,I had my mortgage thru them

[@tammykalp4717]

I was wondering if what I am already doing enough. I pay extra monthly and am ahead of the payoff by 9 years right now. Thank you for putting it ALL into perspective.

[@SchoolofPersonalFinance]

Sounds like you are doing great!! Thanks for your comment! Make sure to check out my other videos about retirement savings and personal finance. Here is another one you might enjoy --> kzbin.info/www/bejne/qYq1gqmXlMuBh9U

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[@peterkmwangi5963]

Your explanation is much better than other KZbinrs because as you say there's no magic unless you put more towards the payment. Thanks for that , I couldn't understand how taking more loans to reduce one loan would help because you still have the other.

[@bunny_smith]

The key to paying off your mortgage early is to stop spending money and put every extra penny you earn to principal. At the beginning of the pandemic this single schoolteacher had a mortgage balance of $75K. I put every penny of my stimmy checks, tax returns, summer school, we're-so-desperate-to-keep-teachers-we'll-even-give-them-a-christmas-bonus checks, and 2 extra classes over 2 years to my mortgage. Also, I spent virtually no money beyond bills and food. Cancelled EVERYTHING. And I also saved $300 per month. It's paid off. This December...it's GONE and I'm debt-free! I'm so excited, I can taste it.

[@stldweller]

American dream unlocked. What an achievement to have a paid for home in the richest country on Earth.

[@edlocks5112]

I wish I had been aggressive in paying off my mortgage early on in the process. We started to round up and add $$ to every payment. Our mortgage is 2300 so we added 700 per month and now pay 3000 per month. We've been doing this for 3 years now and let me say that now I look forward to the mortgage bill every month just to see the principal shrink right before my eyes. In the beginning when you first buy your home is probably the hardest time to pay extra so I'd advise any new homeowner to make sure you can financially cover this overpayment, so you can eliminate this bill from your life!

[@TheSubmissionChannel]

​@@williamlyons3947 9.5% in the last year? Where? Fantasies?

[@michaelsalcido3736]

@@williamlyons3947 - “Brandon” 2024. Are you joking! Have you tried to build a simple storage shed in your backyard? (And don’t tell me you don’t need a shed - you know darn well what I’m talking about. Have you tried to make an omelette? I know what…have you tried to fill up your gas tank for your vehicle (watch this puppet come up w “I have an EV car.” All these simple every day items that affect regular middle class people ( lumber, gas, baby formula, even freakin’ eggs, etc) are all through thru the roof. Have you been living in the US for the last two years? That’s not to mention all the other fk-ups “Brandon’s” & his admin have done: the Afghanistan debacle, the southern border, the crime rate, this current train disaster (that he doesn’t have time for - along w his so-called transportation sec, his 10% “to the big guy” involvement that he denies & on & on & on & on … and you publicly advocate for another four more years !.? A pure embarrassment on the world stage & you write 2024. One more thing…& all the freaks he put in his administration: (trans this & gay that & non-binary [what ever the fk that means], & pronoun this & let’s have males compete in female sports & have males allowed in females’ locker rooms & then to top it all off, you have cackle Harris. That says it all. My goodness! What country are living in! 👊. Yeah I wrote it…”did you see what he wrote…he said “freaks.” KMA! That’s what you dems, & libs got out of my rant? No wonder.

[@michaelsalcido3736]

@@williamlyons3947 - Ha! Didn’t I tell you readers that he was going to say he didn’t need a shed. Didn’t I tell you. Then he says he has an EV car - again lmao. I told you he would say that - geez! So typical these people. Then he starts mentioning how eggs are bad for you. Really! They just don’t get it do they? I don’t know why. As for why Biden is called “Brandon” - look it up, man. This guy has perfectly proved my point to the tee.

[@highlanderc]

This is by far the best video i've seen that is not a clickbait. You want to pay off early? PAY MORE... the bi weekly actually makes sense given that people get paid biweekly in the US and its a sure way of saving and being on time plus an extra payment a year in a proper budgeted way.

[@dawnelder9046]

It took 14 years, 4 months to pay off our 25 year mortgage. But we had a drop of 400 a month in income right after buying our home. So it took a bit more time. That was a lot in the early 90s. We paid weekly, which helped. An extra months payment every year. But when the income did increase, I put half of what was left after tax onto the mortgage. I though about it like increasing rent. The last two years we had a good increase in income, and a decrease in expenses and I upped our payments by an additional 80 per week. That was about 180 more per week than what we were suppose to pay.

[@viking6535]

I've only had 1 30 year mortgage. The last 3 mortgages have been 15 year. If you want to pay an extra payment. Divide your monthly payment by 12, then take that amount and apply it to principal only.

[@SchoolofPersonalFinance]

Good stuff!!

[@EtherealZaftig]

You painted a very clear picture of interest payments versus principal payments. Thank you.

[@Infinitetrucker]

I've been investing heavily during the pandemic and I've been making quite a bit of money. Passive income is great since once you've built your nest egg, the money will continue to come in passively. I am focusing on a hybrid of dividend and growth since I think that both routes are really intelligent. All credits to Zach Micah Demers my advisor

[@carolsitsons443]

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He is a financial analyst and the advisor who has helped me learn how to consistently secure wins from investing regardless the nature of the market

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I've come across a lot of recommendations but this one stands out. Zach Micah Demers’ profile is sophisticated, and shows he has been actively contributing in the industry. Thanks for the info!

[@divonteschiller8788]

Zach Micah Demers is a highly knowledgeable investment advisor and financial planner who helps me navigate the complexities of investing. His insights and recommendations have been instrumental in growing my portfolio from 40K to 120K

[@Matt-ur3dm]

I love these pretend comments by scammers they are so obvious

[@kimstryitchannel3903]

You explained this so well! Most people have super confusing videos but you spelled it all out in a really easy to understand way! Thanks! You’re great!

[@SchoolofPersonalFinance]

Thank you Kim!!

[@antomano5623]

If possible just make extra payments towards the principal whatever the amount is. And if you are fortunate enough to get refunds use 35% to 40% of your tax refunds on the principal again. If you are allowed to work some overtime, again use 70% of that towards the principal and 15% on a roth ira, the remaining 15% on yourself/family/vacation(s). Have a house that is paid off is the best thing and the best feeling in the world. No longer stressing out every month for having a mortgage; use the saved money for investing. Best of luck.

[@TheSubmissionChannel]

Use 100% of your tax refund to cap the max on the I series of Treasury Bonds, adding 5K of paper bonds to the 10K annual max. The current interest rate is 6.89%. No one has a mortgage interest rate that high.

[@beckymathews8820]

@@TheSubmissionChannel Have you checked current mortgage interest rates recently? People do have mortgage rates higher than the bond rate.

[@TheSubmissionChannel]

@@beckymathews8820 That's because they're idiots.

[@eyehatemyjob2314]

I do. 7 percent.

[@DebtFreeDee]

I'm currently making extra principal payments in hopes to have my mortgage knocked out in the next 5-10 years. This info was very helpful, thanks!

[@125southernnh2]

That's the best way to go. It might feel good to say I have a mortgage'. It's more fun to say 'I own my home'!

[@Hebrew-Nation1]

How is it going now?

[@amadeomoable]

Great advice. I'm paying off towards Principal whenever I can.

[@SchoolofPersonalFinance]

Thanks 🙏🤑👍

[@FairBeautyEssentials]

💜Thank you. Hugs🤗 My goal is to pay off my mortgage in 3 to 5 years in at least 7 years tops. I want to be done with my mortgage. I am 44 and I do not plan on moving anywhere again this is it for me! Thank you so much for these tips. I’m going to implement making extra payments every month from now going forward

[@SchoolofPersonalFinance]

Thanks! You got this!! 👍

[@gentlepersuader]

This is a very clear explanation. Well done. Here in Australia we can have what's called an offset account for mortgage payments. In essence the mortgage payment is taken from the offset account each month. My weekly wages are paid to a different bank altogether, but I take a good chunk of that money each week and direct debit it to the offset account automatically. This means there is always a buffer of money in the offset for the mortgage payment each month and because I pay more than the requirement payment, the interest calculation is less so more comes off the principle. The combination of paying more into the offset and increasing the frequency to weekly reduced my 30 year mortgage down to 9 years which I completed a few years ago. The offset is handy because you can draw money out of it in an emergency too. Rich is exactly correct in his advice here and I have proven it to work. The biggest piece of advice I can give is YOU MUST BE DISCIPLINED IN YOUR GOALS AND NOT DEVIATE. I made sure I had no other debt (credit cards, car loans, hire purchases etc.) so every spare cent went to mortgage payments instead.

[@bdlodlo]

Thanks for this info, I'm also in Australia and your comments are very relevant to me.

[@mawink7031]

New subscriber here. Boy oh boy! Do I feel left out in the cold. Smart, wise, and very easy to understand you explaining info!

[@SchoolofPersonalFinance]

Thanks so much!! Glad you found it helpful 😊👍

[@SilviaManentFinancialAdvisor]

Yes!! Definitely!

[@menlomenlo851]

I use my credit cards with cash back rewards to pay my monthly expenses then pay the complete balance off every month so I pay no interest and get the cash back.

[@SchoolofPersonalFinance]

That's awesome!! I love credit card rewards programs. So much free travel up for grabs. I made a video about how to take your family to Disney for free using rewards programs. Travel Miles 101 and the Points Guy are great resources for all the stuff.

[@derekbaut]

whats the link/title of the video

[@SchoolofPersonalFinance]

@@derekbaut here you go - kzbin.info/www/bejne/m5bEh5moZZ1mjtE

[@derekbaut]

@@SchoolofPersonalFinance Thank you Sir 🙏

[@SchoolofPersonalFinance]

Derek Bautista made that video like a year ago and with all the shit going on a lot has changed with credit card offers but concept is still the same.

[@quixomega]

This video is some of the best financial advice on KZbin, most videos overcomplicate things. Overpaying your mortgage is simple to follow and mostly as effective as velocity banking.

[@SchoolofPersonalFinance]

Thanks Quix!!

[@andresLK]

I'm 50 years and I retired at 46. I was able to do this because I understood Four Principles of Financial Planning Success Think long-term with goals and investing. Spend less than you earn. Maintain liquidity (an emergency savings).Minimize the use of debt.

[@andresLK]

If you have an unpaid mortgage and you have and no clue on how to clear it no matter the amount all you do is startup with a little investment which i can recommend you about

[@Windarti30]

Real facts Ethan I had a business preposition that turned out to be a mess due to that I feel into huge depth with your words I realized that I needed an Investment expert. Like a pro to give me better guide on how to begin a successful investment. I'm also open to good recommendations. Any ?

[@andresLK]

@@Windarti30 All you need is a pro. Michael Adams Jay would help you out with all you need to know he is a guru. He is a financial Advisor

[@Windarti30]

@@andresLK How can I reach out to this pro?? 🙏

[@andresLK]

@@Windarti30 reach out to him using the provided information..

[@beri232]

I paid bi-weekly vs monthly but the best thing we did was put the maximum once-per-year lump sum payment on our mortgage. For us, that was $30,000/year. At first, it felt like it was doing nothing but after 4 years it’s gone down bigtime. My home will be paid off next year and I’ll be 49. We’ll be mortgage free but meanwhile my friends and family are paying their mortgage plus an additional $1,200/month due to interest rate hikes here in Canada. We took advantage of the low rates while we could.

[@stevenp25100]

The whole point he made is that interest is calculated monthly. Multiple payments doesn't matter. Also, if your friends invested 30k into their retirement account or mutual fund they quite possibly made more on their money than paying down a low interest rate mortgage

[@beri232]

@@stevenp25100 possibly but my investments took a shitkicking and mortgage rates here more than doubled so I’m pretty happy with the way things turned out.

[@stevenp25100]

Your mortgage rate doesn't change, I'm not following the logic.

[@beri232]

@@stevenp25100 it sure as hell does if you’re on an open variable or renewing! I think you lack knowledge in general Steven.

[@stevenp25100]

@@beri232 cool... and if your investments are making you less money than your mortgage interest, you're an idiot and yeah should just pay off your mortgage

[@k_harmony8430]

Grateful to have found (rather your channel popped up) your channel. Thank you for all that you share!!!

[@SchoolofPersonalFinance]

Thanks 🙏 Appreciate it.

[@Fishouta]

Very articulate! I really enjoyed this. New subscriber now.

[@SchoolofPersonalFinance]

Thank you!!

[@jenniferbmendezful]

Get an amortization calculator and put in the normal 30 years. Then, the homeowner can look at next month's principal and make that payment toward principal, as well. Which, like you mentioned would cut the time in half to 15 years, with the option to skip that payment and pay normally on the payment coupon, if other emergency expenses arise. Great short video, to the point.

[@SchoolofPersonalFinance]

jenniferbmendezful thanks!! 💵👍👊

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[@arnettabosby5100]

Can you please post the link for the mortgage calculator you are using? Thanks

[@dianebarone1542]

I like the way you showed the first payment to the second payment clearly showing exactly how the payments work.

[@SchoolofPersonalFinance]

Thanks Diane!!

[@morganphiliproy9857]

To pay up my mortgage was not really a problem because I did not actually feel it due to how early I did. I had to increase my monthly payment and lowered my principal rate. Thanks to my Forex investment, I had to pay triple of what I paid initially with ease. The secret is just investments

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[@June-og8fw]

Very well organized and articulated. Thank you for clarifying the truth about HELOCs. Good idea in using the HELOC as your emergency fund and paying down the principle of your mortgage with your capital in your emergency fund

[@SchoolofPersonalFinance]

Thanks June!! Glad you found it helpful! 👍

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[@joshuapinter]

Dude, that was absolutely excellent. Every minute was useful and no time was wasted. Great explanation.

[@Jo_and_HisJK]

Im just about to close on a house and this information definitely helps! Thank you

[@SchoolofPersonalFinance]

Nice!!

[@neeneeearnedthis2923]

The best explanation ever!! Thank you

[@SchoolofPersonalFinance]

Thanks NeeNee!!

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[@cocoxoxoxo7881]

Best explanation I've gotten thus far. Thank you I am now a loyal subscriber!!❤

[@DannyGmusicc]

I’m going to sound crazy but it’s as simple as pay more when you can to clear the debt there’s literally no other way 👍🏾

[@SchoolofPersonalFinance]

Doesn’t sound crazy to me!!

[@martytrujillo5082]

If you take the time to do the math on the velocity banking it pays down the debt much faster with your funds being liquid. The interest in the short and long term is much less. You only leverage what you can pay down in six months or less so if the banks yank the personal line my choice or the HELOC you can handle it. I can dip into savings and pay it off any time I like. Chunks of the banks' money to pay off your mortgage early not your money with much less interest. You use your pay each month to keep interested at bay and save thousands on the mortgage interest. Take a closer look at velocity banking you all are missing simple pieces of the puzzle. Think about how much you could invest every month if you did not have a mortgage in 6 0r 7 years! Velocity and I will see you on the Mountain!!

[@Matt-ur3dm]

@@TommyleeATGMAILDOTcom-ws3wg great. What can go wrong?! Thanks so much

[@janebaker4912]

You'll be surprised how many people don't do it. My parents always moved and started their mortgage all over again every year. Pay heaps of interest

[@BimmerBabe]

Exactly either pay more on the front end or more in the back and either way you're going to pay there is no way around it

[@halfunkbass2966]

Its crazy to refinance when to lower your interest rate by simply paying the principal. Pay the total mortgage and pay 200.00 extra to the principal each month. I paid my house off in less than 15 years. Don't play the refinance game... you'll lose every time. Buck up and pay down the principle and cut out eating out and vacations excursions and grind.

[@satavalekar]

Good no-nonsense video. Most other videos spend 20+ mins explanaining some ninja techniques that all basically require you to do more aggressive principal payments.

[@carriebishop8568]

I absolutely love this video. I thank you for keeping it so basic and simple and not complicated like other videos I have watched

[@SchoolofPersonalFinance]

Glad it was helpful!

[@agathaanson9397]

This is the best advice I’ve ever heard, thank you very much I’ve been watching so much videos this is the best one so far, thank you very much thanks for sharing

[@SchoolofPersonalFinance]

Thanks Agatha!!

[@Atausch]

Love it. 1 additional advice - double down your first month payment towards the principle

[@kendrickmason2577]

I usually thought paying off my mortgage earlier was a good idea till I came across my financial advisor/portfolio manager who advised me on the right to do .

[@kendrickmason2577]

He advised that I invest the extra money I pay on my mortgage into stocks , forex and crypto, that has been the best advise I've gotten in over a decade because my investments in cryptocurrency has changed my life.

[@kendrickmason2577]

I've made over $786k in barely 11 months of investing in cryptocurrency and forex, isn't that amazing !!!

[@sandradunn5091]

i have been making researches about crypto investment and i have read good stories about its money making potentials but the whole thing gets me confused as I do not have adequate knowledge of how the market ?

[@sandradunn5091]

How are you able to make profits with your investment in crypto?

[@kendrickmason2577]

Yes crypto has great potential which is why I dived into it in the first place. I invest with the help of a professional trader, he handles my Investment while I monitor the growth .

[@marting.7564]

The concern that I have about refinancing is I would be front loading on my interest again and pay less principle.

[@SchoolofPersonalFinance]

The interest portion of your payment would actually go down if you get a lower rate. (Example you go from 5.5% to 3.5%) and you do not increase the amount of your mortgage. ...your monthly payments will be lower because you are back to spreading the payments over 30 years....(so less will be going to principal because you are paying less every month) but here is a solution - keep paying the old payment amount. This way you pay less interest and more money will go towards the principal. You will end up paying it off faster than if you do not refiance.

[@chindomnic8828]

That's not true. You will automatically move to the high interest zone.

[@SchoolofPersonalFinance]

Chin Domnic what does the high interest zone mean?

[@KatieJCruz]

Refi is just the bank’s way of getting more money out of you. They don’t want you to reach that point where you no longer owe interest because they’ll be making less money. Don’t reset yourself and have to start off paying mostly interest again.

[@mrlackofsleep2009]

Katie Djebaili Sorry Katie, but this is just false math thinking. You will stay in that higher interest area because you reset your loan back to 30 years and pay LESS monthly. IF you refinance AND keep paying the same payment you had before refinancing, you will pay it off faster, with less interest than not refinancing.

[@GunnerAl9]

Good video, clear voice and simple explanation. 99% of the population is not disciplined enough to use the rolling HELOC payment method and mess it up by over-spending, not living within their means, etc.

[@PompeyBoy66]

Really clear. Thank you. My mate and his wife paid it down quickly, living off one salary and investing the other in paying down the mortgage and high dividend blue chip shares, re investing the dividend to benefit from the compound interest. The 7th wonder of the world

[@SchoolofPersonalFinance]

Thanks Michael!! Glad you found it helpful. Make sure to check out a recent video I made about compounding interest. kzbin.info/www/bejne/r6urZGd7jrusock

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[@michaelcraig9227]

I liked your presentation and appreciated your attempt to be fair to other financial ideas. The reality is that some amount of discipline is needed to payoff your mortgage quicker. While the numbers are important , to some persons owning your home outright is an overriding goal. How you get to that goal can vary based on the amount of discipline you are willing to put in. As a tax professional, I have actually advised clients to use their refund in that way to chunk down the mortgage. Another consideration is your marital status. You have to be on the same page as your spouse. Which techniques you use matter less than the cooperation between the spouses.

[@jason_techoninsta4992]

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[@kevinjohnson4909]

Man I try my best to get my wife on the same page with that but all she wants to do is blow money

[@dangame1685]

Standard

[@dkillahne]

love your final tip! thats exactly what I've been doing the last year. Since I have a heloc as my emergency fund im not afraid to be super agressive on my principle.

[@carletedmonds]

This is a the best video clarifying all the noise of velocity banking. Thank you.

[@SchoolofPersonalFinance]

Thanks!! I am actually posting a new video on Friday going through an actual example of how velocity banking really doesnt work any better than just paying extra payments.

[@towannadavis7195]

I paid a 30 year mortgage off in 19 years. I did the big weekly payment for years.

[@SchoolofPersonalFinance]

Congrats!! That is wonderful!

[@Tommylee1242ATGMAILDOTcom]

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[@mikehemmis5202]

Great presentation. I am making principal payments on my mortgage right now. What you said made great sense to me.

[@oldkid6]

Thank you for a great video and not allowing me to do something stupid like velocity banking. I have been throwing as much money towards the principal for years and now, slowly but surely chopping down on the interest and amortization schedule. You have given anyone the roadmap to do the simple and smart way. (the truth) I like it.

[@williamerikburton]

I paid My 30 Year Mortgage In 11.9 Years, 100% Legitimate! Want To Know How I Did That?

[@denniskwong1574]

How is recast mortgage work?

[@ScottCarroll]

I divided my monthly payment by 12, and then pay that to principal every month. Effectively making an extra payment a year and spreading it out.

[@SchoolofPersonalFinance]

That’s good stuff right there. Nice work around the bi-weekly programs.

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[@erikgator]

Great job THANK YOU SO MUCH !!!

[@SchoolofPersonalFinance]

Thanks Erik!

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[@luzcamacho2050]

Good information. Thank you. Every little extra principle helps

[@sunny-kb3ef]

You did the best job explaining this context out of all of the videos I watched. Thank you for making this video! 🙂

[@SchoolofPersonalFinance]

Thanks! Appreciate your comment 🙏

[@simplesgood7694]

Thank you for such an understandable and simply put explanation of how mortgage interest works as opposed to line of credit interest. Very helpful!! I have so subscribed to your channel!

[@SchoolofPersonalFinance]

Thanks!! Glad you found it helpful.

[@pablochumpitaz1048]

very helpful, I have a ? I owned 200,000 still 10 years in mortgage, how can I finish pay this sooner.

[@angelinachavira9310]

You explained this very clearly in words that I understand! Thank you!

[@SchoolofPersonalFinance]

Thank you!! Glad it helped!

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[@xdiegox140]

Man this was so informative. Thanks for directing your effort at educating those of us that don't have this type of knowledge.

[@SchoolofPersonalFinance]

Glad it was helpful!

[@AxGryndr]

The issue I have with keeping a 30 year and paying as if it is a 15 is that the interest rate is still pegged to the 30 year. Most 15 year mortgages come with a discount on the interest. On tips one and two, make sure your mortgage company does not have prepayment penalties.

[@leahrabeauxvezinat8871]

Have you calculated the difference.?

[@anniesshenanigans3815]

the security of a 30y lower payment is 'just in case' you can't make that bigger payment. Also if you already have the mortgage, refi at 15 yr is not cost effective unless they don't change you any fees for it. I paid off mine in 8 years. and many of those payments were just the minimum.

[@Live-Life-Freely]

You can leave a $1 balance until you reach the prepayment penalty date.

[@megamind1013]

Good day champ from Papua New Guinea 🇵🇬. It's hard to keep up with bank. But with this advice sure am in batter position to fight back the banks interest on my home loan. Thanks for your advice. 🙏🏿

[@SchoolofPersonalFinance]

Thank you 🙏

[@AyTee77]

Hi Wontok 🐠. I grew up in the North Solomon Province. I remember the radio ad, “PNGBC, the bank for you and me” (from the 80s) lol 😆

[@johnmendoza6421]

Problem belong u

[@corazonrepuyan9761]

First time viewer & a subscriber. I learned something today. Thank you for the info.

[@SchoolofPersonalFinance]

🤑Thanks Corazon!! Glad you found it helpful!

[@aalm7082]

Just subbed! Ive seen a lot of fast talking clowns on yt trying to teach this mortgage banking velocity stuff, but not this channel! Very clear to the point information. Well presented and appreciated! Thanks brother!

[@SchoolofPersonalFinance]

Thanks 🙏

[@accutronitisthe2nd95]

Thank god I paid off my 30-year mortgage on 3-17-2022! FREE AT LAST!

[@07wrxtr1]

13:50 - Secured debt is fine in most cases provided you have a good solid 20-50% equity position. Unsecured debt like credit cards/personal loans/anything without collateral involved = higher risk, higher rates, and tend to have a detrimental affect on the credit scores. This is where balance to limit ratios come in.

[@jpdriver1967]

Good video. Works for some. The home equity line could be dangerous for those that are not extremely disciplined as it could also rack up debt for those easy to buy wants. I prefer to just make extra monthly principal only payments on my mortgage and will save more than half the interest that my bank was expecting when taking out the loan. I call it future buying power back in my pockets!

[@arnisdaddy7905]

It never ceases to fascinate me how many adults can go on for hours about some Pro sport teams' stats, or in the depth details about some fictional TV series, but if you start asking them about investing, banking, mortgage info, they tell you "That stuff is too hard for me, I don't understand it!" then proceed to complain about how broke they always are, and how expensive their lives are. The greatest investment you can ever make is in your own education about the things that actually effect your life like Money, Investing, etc.

[@SchoolofPersonalFinance]

Preach it brother!!

[@Jonb01z28]

I have said this exact thing before. My favorite is when those same people tell me they pay someone to do their taxes aka a 1040ez form. So you can tell me every player and all their stats for the 1973 New York Giants but you just payed someone to do a 1040ez tax form? WTF!

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[@ElDarren]

Very informative Rich! Thanks for the tips 👍

[@SchoolofPersonalFinance]

Thanks!! 🙏

[@richstevenson1]

FANTASTIC video! Thank you for delivering this on such a clear, concise And easy to understand manner. I cannot begin to tell you how helpful this video was.

[@SchoolofPersonalFinance]

Thanks Richard!! 🙏

[@rosendoalvarez9770]

finally, someone with common sense!

[@SchoolofPersonalFinance]

Thanks Rosendo!! New video dropping tomorrow diving deeper into if velocity banking works or not.

[@wickedbird1538]

😊😊I agree with you. Just pay extra on the principal every time you can. (This assumes you are not carrying a balance on high interest rate credit cards ).

[@SchoolofPersonalFinance]

👍

[@ms.anonymous3756]

Thank you sir! You are very direct, very understandable and you're just fantastic! I appreciate you!

[@SchoolofPersonalFinance]

Thank you Diedre!! 😊