Roger Swift - Financial Coaching

Come to our seminar in Dunedin on Tuesday, 9th March at 5.30pm. It's going to be life changing for many, exhilarating for all. And fun. If you haven't seen Hannah before - this will be a real treat.

Get Mortgage-Free and Build Wealth in 10 years or less - Dunedin Want to Get Mortgage-Free and Build Wealth in 10 years or less? The time to make progress is now! Join Hannah McQueen for this seminar

When you celebrate a birthday that has a zero at the end of it, people reassure you ‘it’s the new 30!’. 40, 50, 60 – they’re all the new 30.

But I believe 10 is the new 30 - when it comes to your mortgage, that is!

Too often borrowers default to the standard duration of 30 years, and trundle along never making much more progress than that.

But over 30 years you will pay almost three times what you borrowed back to the bank. So, if you borrow $400,000, you’ll pay back close to $1.1 million (using long term average rates). The interest rate discount you negotiate starts to pale into insignificance in the context of such large numbers! Not only that, but you pay the bank back first. In my first mortgage I worked out it would be 23 years before I started paying more principal than interest each month – but I wanted something different.

One of the problems is we don’t have a good gauge for what we should be aiming for - what’s a reasonable timeframe to pay off a mortgage?

You might scoff and think being 10 years away from being mortgage-free is impossible, but first consider the timeframes we aim for with our clients. If you have debt that is four times your household income, you should be able to pay your mortgage off in 8 years. If that debt is five times your household income, you should aim for 11-12 years. If that ratio is more like 1 to 8 or 9, you’ve overstretched and it’s time to sell.

In my experience, there’s always more fat in people’s budgets than they realise. On average, people fritter 15% of their income on things that don’t make them any happier or, worse - they can’t account for where it went! You’d also be surprised at the savings you can make from more efficient mortgage set ups, tax structures and insurances.

10 absolutely is the new 30 and having a plan to make that your reality will jumpstart you on the road to financial success.

Hannah McQueen is coming to Dunedin! This free event is on the 3rd of October at 5.30pm. Our event is nearly fully subscribed so get in quick. If you want to find out how to pay your mortgage off quicker or get sorted for your retirement you need to be here. Txt "Save" to 268 to register or follow the link below. It's free, so go on and book it now!!

Kill Your Mortgage with Hannah McQueen - Dunedin Hannah is presenting this 45-minute seminar in Dunedin on Tuesday 3rd October. This is the last chance to see her present in 2017. Secure your seat now!In this seminar, you will learn:The truth about money – Why New Zealanders spend all they earn irrespective of their incomeThe ‘fritter’ factor – Ho...