Rob Barton - How to pay off your home loan in 7 to 10 years

17/11/2022

FIRE (also known as Financially Independent, Retire Early) is a lifestyle movement that allows you to enjoy an early retirement, much earlier than the conventional age of 65 through extreme savings and investment, somewhere between 50-70% of your income. For some, it is not about retiring but about having the freedom to choose how to spend your life without having to worry about money.

This strategy is based on two common retirement strategies: the 25x Rule and the 4% Rule, each of which helps people set up “safe” rates of withdrawal from their retirement savings. FIRE practitioners aim to save 25x their annual expenses and typically withdraw 3% to 4% from their funds annually to cover their living expenses following early retirement. This requires extreme dedication in assessing, planning, and reallocating your investments from time to time to maintain the desired lifestyle.

02/11/2022

If you have multiple loans and are keen to get rid of them, the Debt Avalanche might be right for you. This works by eliminating the debt with the highest interest rates first, down to the debt with the smallest interest. It might take a little longer than the Debt Snowball method (see earlier post) to see significant progress but this will typically save you the most cash.

19/10/2022

Some reviews from our wonderful clients.

12/10/2022

If you have lots of loans and are keen to get rid of them, this strategy is my personal favourite. It may not be the best from a pure dollar and cents perspective but it delivers results quickly, and that helps to keep you motivated. In the Debt snowball method, you pay the minimum amount possible on all you loans except the smallest loan. For the smallest loan, you make additional repayments in line with your budget and as soon as it is paid off, you then use the repayment from this small loan to add to the additional repayment amount and focus on paying off the next smallest loan you have. You then repeat until you are debt free. You'll be way more focused seeing ongoing success along the way. This is a great strategy for those of us who need a spark of motivation!

22/09/2022

08/09/2022

Do you know what your current home loan interest rate is? Are you curious if you are paying too much for your home loan?
It's high time to get your finances check. Avail our FREE Home Loan Health Check and see how much you can put back in your pocket!
Send us a message or call us at 0499 658 710

05/09/2022

In Scotland, painting your door red marks an important milestone. This just means that you have fully paid off your mortgage!

01/09/2022

"Every moment is a fresh beginning." - T.S. Eliot

22/08/2022

Do you know what your current interest rate is? Call us for a review.

15/08/2022

Happy Monday!

12/08/2022

Don't let the bank make you feel that way, call us for a hassle-free mortgage.

12/08/2022