Awesome video. These ads are all over my social and I had a suspicion that this was all they were doing. Appreciate this sort of information going out there. Cheers!
We keep our years high for a lower monthly mortgage but then pay an extra 1/3 on top of that. Just allows us to be flexible if we ever have a cash flow issue. So long as the actual amount going in is the same, there's zero difference. Also the issue with always adding your pay rise to mortgage payment increase is that inflation will make your original payment feel like you're getting really poor after 5 years you could be down in real terms by 20% if it's 4% inflation per year.
Super excited! My wife and I have paid additional 50k off our fi4st home within 2 years we've upped the repayments to 1k a week and fortnightly frequency which in the calculator said we'd be mortgage free in 8 years so much motivation however 2ere going to buy another
Most people's pay goes up by around 4% each year, but inflation goes up more than that. So suggesting that people have an extra 4% of their pay available really just isn't true.
Very useful, thank you. So, is it better to collect all your saving at the end of the year and put it to your main mortgage rather than increasing your revolving credit?
Had you mentioned using 55 days interest free period of credit card to pay daily expenses and auto-repay at 54th day from your offset account, this video would be completed with all strategies I knew of.
Why do you need to create a second mortgage account for the offset? Can't you just leave the money in an offset on the main mortgage? Also why do you need to pay off the mortgage periodically instead of just leaving it in the offset doing the same job?
Is it better if you have extra money for repayments to save that money in a interest bearing account (that is higher than your mortgage interest) and pay down the mortgage in lump sums (like when you have to refix) or better to have that extra money in an account to offset the revolving credit?
Appreciate the video! ❤ I’ve watched a lot of these videos and still don’t see the benefit of depositing money into the mortgage if it’s already sitting in the offset doing its job? Is it just to avoid being tempted to spend the offset?
I'm a mortgage adviser. I'm so surprised that the adviser you're talking about hasn't had a phone call from the FMA. I attended his webinar, just to see if there was some factor I could have missed in my own thinking. Like you say, it boiled down to increase repayments, use revolving/offset and invest in property, hope it goes up, sell it off. Strategies sure, but not a panacea and certainly not applicable to everyone.
Oh, so I just need to have enough money to afford extra mortgage payments. Why didn't I think of that? So glad that the only thing that increases over time is my pay and not things like gas, electricity or food
he says just that at 9:00. It isn't easy to come up with extra mortgage payments when you care barely afford to eat and are only maying a mortgage to build equity and avoid rent. It also is not easy to avoid investing that extra cash instead when your mortgage rate is around 3%.
This is a great question. It's definitely tough with the rising cost of living at the moment. Important to keep in mind though that since 2000 incomes have risen twice as fast as the cost of living. And I'm not suggesting all your pay rise goes towards your mortgage. Just that if your mortgage makes up 33% of your income, keep it that way as your income grows. Thanks for watching! Ed
Thank you for breaking it down and telling us as it is. I would love to know more about revolving credit account. Can you please give us more information how to open up one and use it for mortgage purposes?
None of this makes sense if you don't include inflation. $500k some time in the future isn't the same as $500k today. If you borrow at 7% and the risk free rate is around 5%, all you gain by paying back early is a grand 2%.
Isn't there an extra to the revolving credit method, where you pay for everything for the month on credit card, and then pay it off fully at the end of the month. Therefore not paying any interest on your credit card and as your income is sitting in your revolving credit account it also offsets interest in that account that you would otherwise pay.
That’s exactly what I do. I budget so I’m not spending on crap I don’t need. I have one credit card which pays points (so the bank pays me to use my credit card). All the bills etc go onto the credit card, and I pay it in full on pay day. It’s so simple! I have two bills that get paid each month. 1. Credit card 2. Mortgage. And the bonus is all the money I get from the points. I usually get a couple hundred dollars every couple months to spend on groceries or petrol which helps me save more money.
fell in to one of those scammers based in Christchurch, paid 500 before the session and was suppose to pay 4500 after the session. After the session I told the guy that he hasn't helped me one cent and I'm not gonna pay the rest. he threatened me with legal actions so I told him that I'm going to report him to FMA so he fucked off... lost my 500 though
Short answer: they do the same thing. But there is a difference that means one is more functional and user friendly than the other. I'll explain. An I'll list some of my actually data at the end because i can't post a picture in here. A revolving credit facility is a single account. Lets say you borrow a total of $250,000. You fix $200,000 at 7% for 30 years. The last $50,000 is revolving credit at the floating rate of 8.4%. You get your wages deposited into that account. Let's stay you earn $1500 nett per week. Over a month you can essentially reduce your 50k to 44k. But what about my bills you say? The aim is to keep as much money paid off your revolving facility for as long as possible. You pay your bills on their due dates as you would normally. Most people would use a credit card with a 55 day interest free period for daily expenses. Supermarket, fuel etc. Then pay the balance each month. You use the account like a chequing account, with an eftpos card. To use offsetting, you have your fixed amount and the offset mortgage, which like the revolving credit facility, is on the floating interest rate. The difference is (at least with BNZ) you can have as many individual accounts as you like ( or maybe 20 or up to 50). The balances in all of these account offset the amount owing in your floating mortgage (the 50k). I have a food account, and a fuel and other weekly expenses account on my eftpos card. All other money that has to be set aside for upcoming bills goes into my various other bank account. I have an account for vehicle maintenance, rates and insurance, power, internet, and mobile phone plans and so on. All of the money can't be accessed easily from my card, I'd have to log in and transfer. But because this money is distributed weekly into my various accounts, its like I've already spent it. I never touch this money. Upcoming bills are on automatic payment directly from their respective accounts. Now some real details for my offset mortgage. Owing: 32978 Total offsetting: 7587 Paying interest on: 25391 Floating rate: 8.69% Effective rate: 6.69% Amount offset: 23% Total interest saved: $4,846 (Since 1st April 23) (I would normal have 10k in an emergency fund but have only 2k after having use my emergency money) Personally I feel that having a portion of your mortgage offset is safer that revolving credit facility. This is because you can layout your funds how you like and actually see what money has been set aside for separate things. You are less likely to overspend. When I had revolving credit it felt like having a 50k credit card. With another credit card alongside it. I ended up maxing both out. Defeating the purpose. Also, if you had any emergency funds set aside, this amount did not offset your credit facility. With an offset mortgage, your money in your account is not debt. It's actual savings, and it reduces how much you pay interest on. You can even have all the balances of your partners accounts offset your joint mortgage if you're both with the same bank. Hope this helps.
good in theory, but maybe not in real life. rates, insurance, other costs all increasing, which will consume all your pay increases, plus your pay will be capped at certain time while those costs will just keep increasing. While it sounds good in theory, it would actually be good to properly plan for the cash flow. especially for home owners
Thank you always wondered what that Secret was that some unscrupulous people were trying to sell. One other strategy that does have a little bit of difference is to switch to fortnightly or weekly payments instead of monthly payments. As interest is calculated on a daily basis, by paying more frequently, the principle goes down. Not a massive amount in saving, but hey if you can go buy a meal with that instead of paying the bank, why not 😅
This is not always true. If you are paid monthly then there is no benefit in paying the mortgage weekly or fortnightly. It’s all based on how often you are being paid. If you are being paid weekly but only paying your mortgage monthly, then yes in that situation you should change your mortgage payments to weekly. If you’re wanting to maximise the benefit of your salary against your mortgage then biggest benefit comes from having an offset account and using that for your salary and all your life expenses. Don’t have another account for spending, just use the offset account.
I have debated this myself, but decided, the cost of having someone in my home out weighed the "savings" as my power, water, gas usage would increase. So are you really that better better off?
No. Looks like a redraw facility instead of an offset facility. Works the same way as far as a broker or a bank is concerned, but for tax purposes (in Australia) they are very different things.
years ago boubled the amount each monthand a 25 year finished in 5 years ,but property prices wernt like they are now,but a months payment was still a scale related to wages and borrowing power.NOWevery way you can even all the loose change get rid of c/cards etc
Alternative strategy. Knock up a spreadsheet and some PowerPoints. Sell 5k seminar tickets to dumb wage slaves. Also make 7k on every mortgage you write. Seems easier that the mystical never ending payrises with no children or cost of living.
I paid my mortage off in 3 years just by drastically increasing my mortgage repayments. I would encourage anyone to do the same if they don't want to hand the bank millions in interest
Okay, but the same year you get a 4% pay rise, the cost of everything is up by 4% from last year due to inflation (by design). So you’re going to have to make cuts to your lifestyle somewhere.
Unless you’re in a consolidation phase paying off your PPOR is not a good idea as it means you’re not leveraging your capital to buy investment property or leveraging tax minimisation strategies. The mentality of paying off your PPOR is so 1960s.
You have just made a client for life. Thanks mate. I actually listened to one of those adverts and smelled a scam. Luckily I didn't buy into it. Keep up the good work!
Thank you, Ed. Had this happen to me, was in a zoom meeting for over an hour and he's trying to sell his program which I didn't fall for. Hey, if you've already paid off your mortgage and successful then why are you trying to sell me knowledge for $1999 oh wait (sales tactic) limited time offer for watching today of $999! It wasn't even personalized for you, it's pre recorded videos on a step by step program. So this dude thinking he can keep selling the same product for so much money and no effort. Dude is a scammer I would never fall for a trap I knew he was dodgy just by his sales pitching the whole way through instead of getting into the details.
`Money actually grow on trees but only on trees that was planted by you!! These tress are referred to as investments. How you diversify your investment portfolio matters.
Investing in real estate or mortgages can be an excellent way to grow wealth, almost like planting money to watch it flourish. However, working with a financial adviser is crucial for both beginners and seasoned investors, ensuring your strategy is sound and your decisions are well-informed.
I've experimented with a few over the past years, but I've stuck with ‘’Julianne Iwersen Niemann” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
If inflation is high generally interest rates are high. But yea inflation is high means living expenses are also high making it way harder to pay off mortgage faster. Pretty much the situation most people including myself are in.
@@joachimpetersen2301 that and also in 20 years you 200k mortgage will probably be the same value as a cup of coffee so I would not rush to pay it off so quick.
A lot of these online mortgage brokers upsell investment into townhouses and offsetting the profit against your existing mortgage. Is this realistic? To good to be true? The fees of $5000 to join a webinar and online support is a lot to risk. I'm keen to reduce my mortgage as I have 8 yrs left on it, based on a personal loan at 5.9% $359,322 left owing, paid back at $1200 per fortnight.
My mother tells a story of a farmer who used to lift his bull calf every day. His plan was, that if he kept lifting this calf every day, one day he'd be able to lift the adult bull. This sounds a lot like that. First, we're pretending we get a 5% cost of living adjustment, second we're pretending we don't have a 7% cost of living increase. Revolving credit is insane, explain to me the interest cost on that? I think this whole shebang boils down to 'if you have lots of spare money, you can pay off your mortgage fast.' which we all knew anyway. Mate you're tone deaf.
For my next trick I will teach you how to pay off your mortgage in just 1 DAY. That's right. 1 day. So whatever your balance is left on your mortgage, pay it back. BOOM next day loan closed. magic.
"Overtime your wage tends to go up..." yeah, so does the cost of living. Have you not heard of inflation?? Kind of a big deal WORLDWIDE at the moment. Seriously, what kind of 'economist' are you?!?
Lol - just like your economic predictions and just like your advice to people on this video - you're wrong. I am not a mortgage broker. I just think that before you call out people on your videos, who you never have met, whose courses you have never bought or participated in, just because you want to create some controversy. There is so much value in people gaining financial education. My opinion is that before you start accumulating a dirt file on people you dont know or the services that they sell, you should think about the "file" they are accumulating on you. It would be transparent of you to let people know just how much in fees you collect every year (without expelling too much commission breath)
Maybe before you ask someone not to engage in name calling, perhaps you should take your own advice and review what, by inference, you are naming those educators in your video. That you may employ whoever does not give you the authority to speak on the subject. The same as an owner of a medical practice who isn't a Dr, would be called reckless for speaking about medical issues. I think charlatan would be a good name to consider.
Hmmmm, maybe it's different in Australia 😅 but this is the experience we're seeing in New Zealander. I get that you're a mortgage broker, so you don't like what we're saying. That's ok. That's normal. We'll just leave these comments here and let viewers decide who to believe 👍
Another talking head economist, no qualifications to speak on the topic and has never taught anybody how to pay off a mortgage faster. Is this the same economist who suggested property prices were going to fall because of covid???
Hey Mark, looks like you're doing a great job educating people in Australia. Fair point about some economists ... but Ed leads a team of 17 financial advisers (including 7 mortgage advisers), so has lots of experience in this area. It might not be easy to see if you're outside NZ, but he also has the #1 business podcast in NZ, wrote a book (with Andrew) and speaks on the radio and TV about money. He's not your usual economist. But if you have some more specific issues with the video. Let's talk about them rather than calling each other names :) Thanks, have a good day!
It's really cool when someone breaks down (for free) what other people charge so much to learn. All of this made so much sense. Thank you!
Awesome video. These ads are all over my social and I had a suspicion that this was all they were doing. Appreciate this sort of information going out there. Cheers!
Very appreciative of you running a video highlighting this is a scam and giving the info away!
Ed is the GOAT!
Things like this is why we have trusted OPES to guide us on our property journey.
Thanks for your help! There’s no secret sauce when it comes to this sort of stuff its just hard work!
We keep our years high for a lower monthly mortgage but then pay an extra 1/3 on top of that. Just allows us to be flexible if we ever have a cash flow issue. So long as the actual amount going in is the same, there's zero difference.
Also the issue with always adding your pay rise to mortgage payment increase is that inflation will make your original payment feel like you're getting really poor after 5 years you could be down in real terms by 20% if it's 4% inflation per year.
Super excited! My wife and I have paid additional 50k off our fi4st home within 2 years we've upped the repayments to 1k a week and fortnightly frequency which in the calculator said we'd be mortgage free in 8 years so much motivation however 2ere going to buy another
Nope, no pay rise, but multiple interest rate rises! So I used to pay an additional $100 a week, now I can’t afford any extra 😢
Most people's pay goes up by around 4% each year, but inflation goes up more than that. So suggesting that people have an extra 4% of their pay available really just isn't true.
He did say increase the repayments by a percentage as a option because of that fact
An absolute banger! I wish more mortgage brokers in Sydney were this honest. Well done.
Fantastic video! Is it better to get a 30 year mortgage or 10 year mortgage if you intend to pay it off in 10 years?
Very useful, thank you. So, is it better to collect all your saving at the end of the year and put it to your main mortgage rather than increasing your revolving credit?
Great video! Well presented and very clear. I've always wondered what those ads were about.
Had you mentioned using 55 days interest free period of credit card to pay daily expenses and auto-repay at 54th day from your offset account, this video would be completed with all strategies I knew of.
Why do you need to create a second mortgage account for the offset? Can't you just leave the money in an offset on the main mortgage? Also why do you need to pay off the mortgage periodically instead of just leaving it in the offset doing the same job?
Organic reach for the win, thanks Ed
Is it better if you have extra money for repayments to save that money in a interest bearing account (that is higher than your mortgage interest) and pay down the mortgage in lump sums (like when you have to refix) or better to have that extra money in an account to offset the revolving credit?
Appreciate the video! ❤
I’ve watched a lot of these videos and still don’t see the benefit of depositing money into the mortgage if it’s already sitting in the offset doing its job? Is it just to avoid being tempted to spend the offset?
I'm a mortgage adviser. I'm so surprised that the adviser you're talking about hasn't had a phone call from the FMA. I attended his webinar, just to see if there was some factor I could have missed in my own thinking. Like you say, it boiled down to increase repayments, use revolving/offset and invest in property, hope it goes up, sell it off. Strategies sure, but not a panacea and certainly not applicable to everyone.
Our system is more comprehensive and brilliant.
Oh, so I just need to have enough money to afford extra mortgage payments. Why didn't I think of that? So glad that the only thing that increases over time is my pay and not things like gas, electricity or food
he says just that at 9:00. It isn't easy to come up with extra mortgage payments when you care barely afford to eat and are only maying a mortgage to build equity and avoid rent. It also is not easy to avoid investing that extra cash instead when your mortgage rate is around 3%.
This is a great question. It's definitely tough with the rising cost of living at the moment. Important to keep in mind though that since 2000 incomes have risen twice as fast as the cost of living. And I'm not suggesting all your pay rise goes towards your mortgage. Just that if your mortgage makes up 33% of your income, keep it that way as your income grows. Thanks for watching! Ed
This is so realistic! Great tips. If your pay goes up so does inflation but it’s learning to adapt ‘somehow’.
So what do you live off if your weekly pay is sitting in the mortgage offset acct?
Thank you for breaking it down and telling us as it is. I would love to know more about revolving credit account. Can you please give us more information how to open up one and use it for mortgage purposes?
None of this makes sense if you don't include inflation. $500k some time in the future isn't the same as $500k today. If you borrow at 7% and the risk free rate is around 5%, all you gain by paying back early is a grand 2%.
Thank you so much for your passionate demonstration to save!!!!
Blees you mate 😊
Can you pay towards principal without increasing the monthly payment?
Thanks Again guys... you just saved me over 6k
Isn't there an extra to the revolving credit method, where you pay for everything for the month on credit card, and then pay it off fully at the end of the month. Therefore not paying any interest on your credit card and as your income is sitting in your revolving credit account it also offsets interest in that account that you would otherwise pay.
That’s exactly what I do. I budget so I’m not spending on crap I don’t need. I have one credit card which pays points (so the bank pays me to use my credit card). All the bills etc go onto the credit card, and I pay it in full on pay day. It’s so simple! I have two bills that get paid each month. 1. Credit card 2. Mortgage. And the bonus is all the money I get from the points. I usually get a couple hundred dollars every couple months to spend on groceries or petrol which helps me save more money.
fell in to one of those scammers based in Christchurch, paid 500 before the session and was suppose to pay 4500 after the session. After the session I told the guy that he hasn't helped me one cent and I'm not gonna pay the rest. he threatened me with legal actions so I told him that I'm going to report him to FMA so he fucked off... lost my 500 though
Is this the same as using a Heloc?
Love your videos!! Thank you so much for this one 😊😊 Love the intro. I wasted an hour on one of those webinars - what a complete waste of time
Whats the difference between having an offset for your revolving credit account vs just having all your money go into your revolving credit account?
What's the purpose of the Revolving Credit,in an offsetting strategy?
Short answer: they do the same thing.
But there is a difference that means one is more functional and user friendly than the other. I'll explain. An I'll list some of my actually data at the end because i can't post a picture in here.
A revolving credit facility is a single account.
Lets say you borrow a total of $250,000. You fix $200,000 at 7% for 30 years. The last $50,000 is revolving credit at the floating rate of 8.4%. You get your wages deposited into that account. Let's stay you earn $1500 nett per week. Over a month you can essentially reduce your 50k to 44k.
But what about my bills you say? The aim is to keep as much money paid off your revolving facility for as long as possible. You pay your bills on their due dates as you would normally. Most people would use a credit card with a 55 day interest free period for daily expenses. Supermarket, fuel etc. Then pay the balance each month. You use the account like a chequing account, with an eftpos card.
To use offsetting, you have your fixed amount and the offset mortgage, which like the revolving credit facility, is on the floating interest rate. The difference is (at least with BNZ) you can have as many individual accounts as you like ( or maybe 20 or up to 50). The balances in all of these account offset the amount owing in your floating mortgage (the 50k).
I have a food account, and a fuel and other weekly expenses account on my eftpos card. All other money that has to be set aside for upcoming bills goes into my various other bank account.
I have an account for vehicle maintenance, rates and insurance, power, internet, and mobile phone plans and so on. All of the money can't be accessed easily from my card, I'd have to log in and transfer. But because this money is distributed weekly into my various accounts, its like I've already spent it. I never touch this money. Upcoming bills are on automatic payment directly from their respective accounts.
Now some real details for my offset mortgage.
Owing: 32978
Total offsetting: 7587
Paying interest on: 25391
Floating rate: 8.69%
Effective rate: 6.69%
Amount offset: 23%
Total interest saved: $4,846 (Since 1st April 23)
(I would normal have 10k in an emergency fund but have only 2k after having use my emergency money)
Personally I feel that having a portion of your mortgage offset is safer that revolving credit facility.
This is because you can layout your funds how you like and actually see what money has been set aside for separate things. You are less likely to overspend. When I had revolving credit it felt like having a 50k credit card. With another credit card alongside it. I ended up maxing both out. Defeating the purpose. Also, if you had any emergency funds set aside, this amount did not offset your credit facility.
With an offset mortgage, your money in your account is not debt. It's actual savings, and it reduces how much you pay interest on.
You can even have all the balances of your partners accounts offset your joint mortgage if you're both with the same bank.
Hope this helps.
Redraw facility. Not offset
good in theory, but maybe not in real life. rates, insurance, other costs all increasing, which will consume all your pay increases, plus your pay will be capped at certain time while those costs will just keep increasing. While it sounds good in theory, it would actually be good to properly plan for the cash flow. especially for home owners
Is it worth renting out ya house through a agent?
Do you have a more detailed video on how the revolving credit strategy works? Hard to grasp the explanation on thos video
we have a couple on the channel that explain in more detail: ua-cam.com/video/HPCmD3hvbcY/v-deo.html & ua-cam.com/video/iki_P7aE4LM/v-deo.html
Thank you always wondered what that Secret was that some unscrupulous people were trying to sell.
One other strategy that does have a little bit of difference is to switch to fortnightly or weekly payments instead of monthly payments. As interest is calculated on a daily basis, by paying more frequently, the principle goes down. Not a massive amount in saving, but hey if you can go buy a meal with that instead of paying the bank, why not 😅
This is not always true.
If you are paid monthly then there is no benefit in paying the mortgage weekly or fortnightly. It’s all based on how often you are being paid.
If you are being paid weekly but only paying your mortgage monthly, then yes in that situation you should change your mortgage payments to weekly.
If you’re wanting to maximise the benefit of your salary against your mortgage then biggest benefit comes from having an offset account and using that for your salary and all your life expenses. Don’t have another account for spending, just use the offset account.
When you buy a home, try and get a home which you can get a flatmate or two.
I have debated this myself, but decided, the cost of having someone in my home out weighed the "savings" as my power, water, gas usage would increase. So are you really that better better off?
Thanks for the education 😊
Revolving credit = an offset account?
No. Looks like a redraw facility instead of an offset facility. Works the same way as far as a broker or a bank is concerned, but for tax purposes (in Australia) they are very different things.
years ago boubled the amount each monthand a 25 year finished in 5 years ,but property prices wernt like they are now,but a months payment was still a scale related to wages and borrowing power.NOWevery way you can even all the loose change get rid of c/cards etc
Situations change and some factors are just out of an individuals control!!
Thanks Ed! Another great video. Much appreciated!!
Not really sure with 4% pay rise each, have to minus income tax as well?
Plus inflation is usually rising at the same time therefore your cost of living is also rising (currently at a rate higher than wages)
Alternative strategy. Knock up a spreadsheet and some PowerPoints. Sell 5k seminar tickets to dumb wage slaves. Also make 7k on every mortgage you write. Seems easier that the mystical never ending payrises with no children or cost of living.
I paid my mortage off in 3 years just by drastically increasing my mortgage repayments. I would encourage anyone to do the same if they don't want to hand the bank millions in interest
Thank you. Great content as always.
Okay, but the same year you get a 4% pay rise, the cost of everything is up by 4% from last year due to inflation (by design). So you’re going to have to make cuts to your lifestyle somewhere.
Are these genuinely the ideas these guys are selling for $5000??!! I’d as for my money back. These are so obvious.
The one we have doesn’t cost anything. We also include tax free retirement fund etc.. a brilliant product.
Yeah, I hope this isn’t news to anybody who owns a house
Unless you’re in a consolidation phase paying off your PPOR is not a good idea as it means you’re not leveraging your capital to buy investment property or leveraging tax minimisation strategies. The mentality of paying off your PPOR is so 1960s.
The first ad on the left is so popular, lol
Awesome video Ed. You're gonna save a lot of people thousands of dollars and disappointment.
In the US you have to cater for increase in insurance and property taxes🙄
You have just made a client for life. Thanks mate. I actually listened to one of those adverts and smelled a scam. Luckily I didn't buy into it.
Keep up the good work!
Saaaame! Totally agree. I love Opes. They're so awesome
Would NZhl help me
Just put your money in offset, it does the same thing only you have access to your money in emergency
Didn't cover debt recycling
Every time you get a pay rise? In what World
Based on historical average returns, it's better to put that extra $570 in an index fund / the stock market.
Finally someone calling out their BS 🙌🙌😂
Thank you, Ed.
Had this happen to me, was in a zoom meeting for over an hour and he's trying to sell his program which I didn't fall for. Hey, if you've already paid off your mortgage and successful then why are you trying to sell me knowledge for $1999 oh wait (sales tactic) limited time offer for watching today of $999! It wasn't even personalized for you, it's pre recorded videos on a step by step program.
So this dude thinking he can keep selling the same product for so much money and no effort. Dude is a scammer I would never fall for a trap I knew he was dodgy just by his sales pitching the whole way through instead of getting into the details.
`Money actually grow on trees but only on trees that was planted by you!! These tress are referred to as investments. How you diversify your investment portfolio matters.
The BIGGEST LIE You've Been Told About Money is that it doesn't grow on TREES!! 😆
Investing in real estate or mortgages can be an excellent way to grow wealth, almost like planting money to watch it flourish. However, working with a financial adviser is crucial for both beginners and seasoned investors, ensuring your strategy is sound and your decisions are well-informed.
I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation??
I've experimented with a few over the past years, but I've stuck with ‘’Julianne Iwersen Niemann” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
4 percent a year pay rise not in aius bro ours going backwards
No mention of inflation in any of these
If inflation is high generally interest rates are high. But yea inflation is high means living expenses are also high making it way harder to pay off mortgage faster. Pretty much the situation most people including myself are in.
@@joachimpetersen2301 that and also in 20 years you 200k mortgage will probably be the same value as a cup of coffee so I would not rush to pay it off so quick.
A lot of these online mortgage brokers upsell investment into townhouses and offsetting the profit against your existing mortgage. Is this realistic? To good to be true? The fees of $5000 to join a webinar and online support is a lot to risk. I'm keen to reduce my mortgage as I have 8 yrs left on it, based on a personal loan at 5.9% $359,322 left owing, paid back at $1200 per fortnight.
Your maths doesn't math
One less carton of cigs, one less six pack of beer. I'm sending extra 25 a month
My mother tells a story of a farmer who used to lift his bull calf every day. His plan was, that if he kept lifting this calf every day, one day he'd be able to lift the adult bull. This sounds a lot like that. First, we're pretending we get a 5% cost of living adjustment, second we're pretending we don't have a 7% cost of living increase. Revolving credit is insane, explain to me the interest cost on that? I think this whole shebang boils down to 'if you have lots of spare money, you can pay off your mortgage fast.' which we all knew anyway. Mate you're tone deaf.
It is literally the easiest thing in ther world; pay more than the minimum. The more you pay extra, the faster it is gone..
Goat 🐐
For my next trick I will teach you how to pay off your mortgage in just 1 DAY.
That's right. 1 day.
So whatever your balance is left on your mortgage, pay it back.
BOOM next day loan closed. magic.
If someone wanted to charge me $5000 to tell me to put more money on my home loan id definitely want my money back 🙄
Lol, pay rise(s). I wish!
Who had $1500 weekly to pay mortgage?
No new strategies…same old ones.
"Overtime your wage tends to go up..." yeah, so does the cost of living. Have you not heard of inflation?? Kind of a big deal WORLDWIDE at the moment. Seriously, what kind of 'economist' are you?!?
Lol - just like your economic predictions and just like your advice to people on this video - you're wrong. I am not a mortgage broker. I just think that before you call out people on your videos, who you never have met, whose courses you have never bought or participated in, just because you want to create some controversy. There is so much value in people gaining financial education. My opinion is that before you start accumulating a dirt file on people you dont know or the services that they sell, you should think about the "file" they are accumulating on you. It would be transparent of you to let people know just how much in fees you collect every year (without expelling too much commission breath)
seebun hundred😂
Maybe before you ask someone not to engage in name calling, perhaps you should take your own advice and review what, by inference, you are naming those educators in your video. That you may employ whoever does not give you the authority to speak on the subject. The same as an owner of a medical practice who isn't a Dr, would be called reckless for speaking about medical issues. I think charlatan would be a good name to consider.
Hmmmm, maybe it's different in Australia 😅 but this is the experience we're seeing in New Zealander. I get that you're a mortgage broker, so you don't like what we're saying. That's ok. That's normal. We'll just leave these comments here and let viewers decide who to believe 👍
Another talking head economist, no qualifications to speak on the topic and has never taught anybody how to pay off a mortgage faster. Is this the same economist who suggested property prices were going to fall because of covid???
Hey Mark, looks like you're doing a great job educating people in Australia. Fair point about some economists ... but Ed leads a team of 17 financial advisers (including 7 mortgage advisers), so has lots of experience in this area.
It might not be easy to see if you're outside NZ, but he also has the #1 business podcast in NZ, wrote a book (with Andrew) and speaks on the radio and TV about money. He's not your usual economist.
But if you have some more specific issues with the video. Let's talk about them rather than calling each other names :) Thanks, have a good day!
Can i have you email for business purpose?