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The Hot New Smart Money Concept
from: Nathalie Vaiser, RFC, FMMThe Hot New Smart Money Concept
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A few years ago, Douglas Andrews wrote a book called 'Missed Fortune' and it's taken financial services industry by storm. This book explains, in great detail and refines in today's terms, an extraordinary smart money management concept that has been used by the leading Financial Advisors, for 100 or more years, to help Affluent Families and Businessmen to amass great fortunes.
Using this refined concept, Middle American families can now learn how to easily:
- Become debt free
- Improve their cash flow
- Reduce income taxes
- Protect the people they love
- Fund a college education for their children
- Plus, have the retirement of their dreams
And, in many cases these families can do it all without changing their current life style.
When done properly, using the 'Missed Fortune' concept, you can dramatically enhance your family's situation almost overnight, without taking extraordinary risks. In fact, as you'll discover while reading the book, by using this smart money concept you are actually significantly reducing the risk in your family's financial life.
How This Refined Smart Money Management Concept Works:
In a nutshell, the flexibility of new innovative mortgage products have expanded over time and now include products featuring 'Interest Only' payments rather than the combined principal and interest payments of a traditional mortgage. These new products can help families to free up money that they typically would have put toward the reduction of their mortgage principal. This freed up money can now be used to quickly reduce debt and create an extraordinary investment plan for the future.
Using Home Ownership As A Strategic Investment:
In a recent Morgan Stanley article, they state: The decision to invest in a home is not only a practical decision in terms of meeting lifestyle and family needs, it can also serve as a means of accumulating wealth through property appreciation. Additionally, the favorable tax treatments of mortgage interest and capital gains have made home ownership a strategic investment decision. Along with the deductibility of mortgage interest and the special treatment of capital gains there are unique benefits associated with leveraging an investment that is a relatively stable asset. The wealth accumulation benefits associated with a tax-advantaged, highly leveraged purchase, such as a home mortgage, can be substantial. Thus, a properly financed home can enhance an individual's overall investment strategy.
An ARM Can Save Homeowners A Ton Of Money:
According to Chairman Greenspan: Homeowners can save a ton of money if they use an adjustable rate mortgage instead of a fixed rate mortgage. For his evidence, he pointed to what would have happened if you had taken out an ARM 10 years ago. Back in 1994, fixed rate mortgages were around 8 percent and adjustable rate mortgages were in the 6 percent range. Since then, rates have been on a strong downward trend: a 30-year fixed rate currently carries a 5.5 interest rate, while an ARM can be 4 percent or lower. So if you took out that adjustable 10 years ago, every time the ARM rate came up for an adjustment - back then you had your ARM rates reset every 12 months based on the then current rate - chances were slim that your payment would increase, since rates were falling, not climbing.
The Investment Plan For The Future:
In order to take advantage of the unique benefits of leveraging a home, you need to guarantee that you are not putting your home at risk. There are some unique features in some non-traditional investment vehicles that make them the investment product of choice. In addition, the money inside these products can, in many cases, grow tax deferred and can be taken out tax-free!
Nathalie Vaiser
Additional information on these concepts can be found at About the Author
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