Mortgage free? Not in this life time!
I had a conversation with my neighbor recently. And if I could paint you a picture for a minute, it’s really funny.
As usual, when people talk to me they usually talk about how to get mortgage free, because that’s what I’m famous for teaching people. But that’s not what was funny, it’s the picture I’m about to paint you.
Can you picture a cartoon or classic old movie where two neighbors are leaning on the fence between two paddocks, chewing on some dry grass, watching the cows doing the same while they discuss important world issues? Well, that is exactly what we were doing! Talk about funny! But I digress.
The location of the conversation wasn’t the point of this article, rather the content of the conversation.
My neighbor made a comment during this conversation that opened up eyes to the main reason why most people never, ever get to be mortgage free. Here’s what he said: “Well, you may as well always have a mortgage while you are working.”
I just grunted, chewed a bit more on my grass while I thought about the severity of what he had just said. And I don’t make this next comment as a judgment, but an observation that I hope and pray speaks loudly into your psyche.
“How stupid is the notion that you should never enjoy being mortgage free?”
My neighbor has completely missed an opportunity to take further advantage of the best years of his life. As a household with two incomes and no dependants he has the opportunity to make some real progress in investing into his future and the future of the generations that follow him. But he’s not going to because he is paying interest to the bank to satisfy his short term desires.
There’s a power of life changing principles we can unpack from that statement. Here are just three that I thought of:
1. Satisfying your short term desires will cost you more than you realize.
2. Paying interest to the bank limits your ability to serve your long term ambitions.
3. Failure to look beyond your current thinking means you rob yourself of a more fulfilling future.
Please hear me when I say that I do not write these thoughts to judge anyone, for I do not have that right. But I write these thoughts firmly with the intention to challenge you on a mindset I find all too common with people who are not mortgage free.
If you still have a mortgage I have a question for you:
Do you believe that you will always have a mortgage?
If you answered this question in the positive then I urge you to begin the process of changing your mindset. And I want to help you to do this.
I bought my first house at age 24. But I never, ever considered the possibility of having a mortgage for the rest of my working life. I focused on how I could get mortgage free as soon as possible. And I discovered five strategies that worked, so I used all five to smash my mortgage. I’m privileged to say that I had my house paid off by age 30, it took me less than 6 years.
So now I teach people what I did and they do it too!
Rush to get your hands on my FREE DVD that will help you to radically re-write the path of your financial future. I will reveal to you the secrets I discovered why most families are on track to have a mortgage for the rest of their lives. I want you to see this so that you are not one of them.
You can be mortgage free. You deserve to be mortgage free. Help yourself.
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Do not be like Phil’s neighbor and remain “tricked” into the notion that you should always have a mortgage. You can learn to apply the same five strategies Phil used to be mortgage free by age 30.
Get Your FREE DVD Today!
How To Make Sure You Don’t End Up With A 50 Year Mortgage
http://www.howtosmashyourmortgage.com
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[...] Original post by Phil Strong’s Blog [...]
[...] Original post by Phil Strong’s Blog [...]
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Hi Phil:
On a related note. I have had multiple questions from people lately about debt consolidation. Since that is not my specialty: I’d like to ask you.
What would you say to the person that has gotten in over their head already but is trying to get out? Are there companies you are aware of that are worth dealing with; links you would provide? Should the process be avoided altogether? Is their ever a time to use it? Is bankruptcy a better option?
Surely you would agree that the best time to start is now, no matter what. So for the person in distress with high credit card bills and/or escalating penalties, what’s the best approach?
Rick
Rick,
The answer is Yes, now is the best time to start getting out of debt. My aim would be for the individual to work their way out of the “hole” so they can learn the disciplines of good money management, and create motivation never to let it happen again!
There is a free resource at http://wisemoney.co.nz in the form of an eBook written by John Burley, a leading financial teacher. Just subscribe to the free newsletter and you receive the eBook free.
This book coaches the same process I teach to help my clients dig their way out of debt.
Alternatively, I suppose one could buy my book and get the full model for taking control of your finances, which includes a chapter on smashing your debts. http://www.becomingmoneywise.com.
Hope this helps.
Phil
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