One of the most popular questions people like to ask me is:
Should I pay off my mortgage?
I take folks through five questions to help them come to the conclusion that is right for them. I have a promise for you: if you read through to the end of this post (and link), you are likely going to get a surprise on the right answer!
The First Question (in 4 parts):
What are your current monthly expenses, what is your current monthly mortgage payment (principle and interest only), how much excess cash flow do you have each month, and how much of that excess cash flow do you currently save?”
The key here is to determine if you, the homeowner, really understand your cash-flow situation. You need to make sure that you know where your cash is going today AND where your cash is going tomorrow.
Other Four Questions
Would You Like More Support?
- Do you have a well-defined Investment Policy Strategy that is used to drive your investments in support of a comprehensive financial plan?
- If not, would you like to partner with someone who is used to helping people get through these struggles and (then, with confidence) implement portfolio strategies in a systematic manner while focusing on your desired outcomes?
If so, feel free to send us an email or give us a call. We’d love to have the opportunity to help you find a bit more peace of mind when it comes to investing.
Photo credits (top to bottom): Stephen Leonardi on unsplash.com and F5 Financial
F5 Financial is a fee-only wealth management firm with a holistic approach to financial planning, personal goals, and behavioral change. Through our F5 Process, we provide insight and tailored strategies that inspire and equip our clients to enjoy a life of significance and financial freedom.
F5 Financial provides fee-only financial planning services to Naperville, Plainfield, Bolingbrook, Aurora, Oswego, Geneva, St. Charles, Wheaton, Glen Ellyn, Lisle, Chicago and the surrounding communities; to McDonough, Henry County, Fayette County, Atlanta and the surrounding communities; to Venice, Sarasota, Fort Myers, Port Charlotte, Cape Coral, Osprey, North Port, and the surrounding communities; and nationally.
We'd love to have the opportunity to hear about your situation. Contact us here to schedule an appointment for a consultation.
Helping You With
Wealth Preservation – Wealth Enhancement – Wealth Transfer – Wealth Protection – Charitable Giving