You Should Be Skeptical
Honestly we were skeptical at first too.
Someone just said you might be able to shave years off of your mortgage - without explaining how. You should be asking questions.
The good news is...We're not asking you to believe everything. But, we'd like to help you understand.
Why Do Experts Disagree?
You've probably already heard advice like...
Pay extra towards your principal and make one extra payment per year.
Don't payoff your mortgage put your money into investments instead.
Never use debt to fix your debt problem.
Live completely on cash and use a snowball effect on your bills.
Refinance your home and pull money out of your equity and consolidate.
Maybe try bi-weekly payments or a 15 year amortization.
Those payoff your loan fast programs have hidden traps and are dangerous.
So, who is right?
The surprising answer is....
Professionals often start with different objectives.
Then they naturally look through different lenses.
Why Do Smart People Reach Different Conclusions?
Because professionals optimize for different outcomes.
Certified Financial Planner
"Don't payoff a low-interest mortgage."
PRIMARY OBJECTIVE:
Maximize Long-Term Wealth
LENS: Opportunity Cost
PRINCIPLE:
Time Matters
WHY:
Because money invested for decades compounds over time.
Standard Mortgage Professional
"Pay extra to the principal each month."
PRIMARY OBJECTIVE:
Reduce Mortgage Interest
LENS: Interest Cost
PRINCIPLE:
Sequence Matters
WHY:
Because the order in which payments are made reduces principal which affects future interest.
Dave Ramsey Advocate
"Stay away from HELOC's always."
PRIMARY OBJECTIVE:
Reduce behavioral risk
LENS: Behavioral Simplicity
PRINCIPLE:
Context Matters
WHY:
Because behavior is part of a solid family's priorities.
Different professionals begin with different priorities so they naturally pay attention to different parts of the financial system. So, is it time, sequence or context? None of those answers are wrong. We analyze all three so you can decide for yourself what works best for you.
If your goal is to build wealth...
TIME MATTERS
If your goal is building wealth, time is your greatest ally.
The longer money stays invested, the more opportunity it has to grow. That's why financial planners often encourage investing instead of paying off a low-interest mortgage early.
If your goal is to reduce interest...
SEQUENCE MATTERS
If your goal is reducing mortgage interest, the order money moves matters. The sooner your mortgage balance falls, the less time interest has to accumulate. That's why mortgage payoff strategies often focus on changing the sequence of cash flow.
If your goal is to reduce risk...
CONTEXT MATTERS
If your goal is keeping your family financially safe, your situation matters. A strategy that's wise for one family may be risky for another. Because of income, obligations or other priorities.
Your Family May Want All Three
THEY ALL MATTER
Building wealth matters. Saving interest matters.
Protecting your family matters.
The challenge is balancing all three with your
Cash flow
Mortgage
Debts
Timing
Goals
That's why we begin with the Financial MRI
Real Families that have experienced our training & personalized plans.
See what happened when homeowners stopped guessing and started modeling.
Part of a Larger Mission:
Fire My Mortgage® is part of a broader effort to help families build lasting stability and generational strength through it's participation in the Freedom Framework
Fire My Mortgage helps families create clarity and control using math-based strategies and guided support.
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