Jotham Kingston - Mortgage Broker

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Kempsey, NSW
Jotham Kingston - Mortgage Broker

I'm a mortgage broker with an interest in intergenerational wealth and long term planning

11/05/2023

Here's a freeing thought about high interest rates:

Back in the 90s when we wuz cool, interest rates were ridiculously high in Russia. We're talking over 150%pa. But the economy was also hyper-inflating, so an apartment that was purchased at, say $3000 in January could be worth 6 or 7 times that by December, and another 4 or 5 times that by the next December.

So two years after setting up a $3000 loan, at year two you're paying $172 per fortnight for an $80,000 property that will probably double or triple in value over the next year.

Indeed, the economy was very volatile, and this is just a thumbnail sketch, but it does make the point that while I may stressing about a rising interest rate for my home, I need to remember that the Australian economy is inflating at over 6%pa, which means INFLATION is paying down your loan for me.

28/02/2023

Yep, the fixed rate was great. Probably unbeatable. But the ride is almost over and the rate is going up.

Refinancing a fixed rate loan is not exciting. You’ll be paying more than before, and you won’t even get a new property at the end.

As a mortgage broker, I have access to a very large panel of lenders, including lenders that are significantly cheaper than the Big Four. I don’t charge anything to do a refi, or to look at your situation to see what's possible.

14/08/2022

To be blunt I’ve not been one for kid names and birthdates inked on skin. Family tatts represent a type of thinking I don’t understand.

But…

This week I read the book ‘Family Wealth’ by James Hughes, and I’m rethinkinking the tatts.

Hughes explains how rich families must be intentional to pass wealth to the third, fourth and fifth generation. They must think 100 years ahead. Family identity and family stability are crucial to this plan. Family is the train that carries wealth to the future. If the train derails or stops moving, the wealth won’t get there.

And suddenly, the family tatts come into focus.

Here on the mid north coast is a deep, sacrificial commitment to family. Mums and dads would do just about anything for their kids. (Perhaps even rumble in the playground, if it came to that??) It is this deep loyalty and commitment that is advertised on skin!

Yet the region is struggling financially. Not much money here!

What’s missing?

An idea, I think.

Simply that it’s possible to plan 100 years into the future. It’s possible to have a vision for your grandkids’ grandkids.

With the magic of compound interest and a 100 year horizon, building a financial fortune is not so difficult. Interest rate rises and recessions become blips on the screen.

The important bit is building stability - happy healthy kids who can maintain a course through life’s storms and pass stability to their own kids. And that is deeply grounded in loyalty and commitment.

Turns out the Mid Norh Coast has a lot more going for it than we thought.

21/07/2022

They’d been married for about a week and a half when she said, “What’s that in your wallet?”
“It’s a Visa Card,” he said.
“Oh,” she said, “Can I have it?”
Ivan handed it over, naively perhaps.
Susanne took the card, dumped it in an empty peanut butter jar, filled the jar with water and screwed the blue plastic lid on.
It all happened so quick Ivan didn’t have time to react.
“It used to be a Visa card,” said Susanne, opening the top section of the fridge to pop the jar in, “And now it’s a **freezer card**.”

Susanne’s sitting on my couch, telling me this story and I’m so proud of the way these guys have quietly gone about putting themselves in a tidy financial position.
“I told him that he could get it out of the freezer and thaw it out when I could see that his spending habits had changed,” she says.
“It’s true,” Ivan chips in. “It changed my spending habits for life.” He looks across at his wife and I’m glad again to have met them. “I just used to spend up to the maximum and pay the minimum – and back then everyone was throwing credit cards at us.”
"How long until you thawed out the card?" I ask.
"Four months," says Ivan.
"It was actually six," says Susanne.

18/07/2022

Last week I spent two days in a room listening to people talk about loans. It literally gave me a headache. (That's me up the back).

This room is full of people who are highly knowledgeable and highly experienced. The surprise of the conference was how willing they were to help me - and to help clients reach their goals. (I thought finance people would be cut-throat and driven. Turns out I was very wrong!)

So when I'm writing a loan I'm not working solo. There's the resources and energy of a whole team of people I'm drawing on.

These are people who want to see Kempsey succeed!

15/06/2022

This is how it has felt for me, changing careers. There have been weeks of hearing the ‘click-click-click’ as I get dragged to the top. I’ve felt the ground fall away a bit at a time. And now, with arms raised in anticipation, it’s time for the ride!

Truth is, I’m not alone. I have a great team at Regional Finance Solutions who are cheering me on, and an equally great group of friends and family who are doing the same.

Here’s to all of us who are afraid of leaving the comfort zone, but do it anyway!

03/06/2022

My shy, artistic daughter saw my rough copy and said, "No, Dad. Your fonts are all wrong, and a shirt should be more fun than that!"

Last week I set myself a goal of exposure to 10,000 people in a fortnight. No sense having something great to offer and having zero customers. A good friend and mentor suggested I use my body as a billboard for the next few months. It was such an obvious idea that I blushed for missing it.

So here's my daughter Harriet's t-shirt concept. It's much better than mine and has a bit of style to it. A bit grungy, which is good for a guy whose sense of fashion slid to a halt in the 90s.

Gotta make sure now that I know my stuff, and when you do stop me in the street and talk to me, I've got something intelligent to say 😁😂😂

26/05/2022

Learning quickly is great, but it comes at a price. Can't believe how many times I've blushed to myself in the last two days.

24/05/2022

"MAKE TIME YOUR FRIEND"

“Make Time Your Friend”. These four words written in the front of my small black book are a key to a bright future.

Naturally, time is against us. Coffee cools to room temperature, metal rusts, clothes wear out. We are ruled by 'entropy'. In other words, everything runs down and stops. Coming to terms with this reality can be a bit of a shock.

But time can be a friend, and it can be a *new* friend. When I make a strategic change, when I set up a new system or habit, I leverage the power of time and make it work for me. Compounding interest is the obvious example, but “planting a seed” and waiting for it to grow is something I understand more easily.

This riddle from ancient wisdom sums up the concept of making time a friend:

"A farmer ... scatters seed on the ground. Night and day, while he’s asleep or awake, the seed sprouts and grows, but he doesn't understand how it happens. The earth produces the crops on its own. First a leaf blade pushes through, then the heads of wheat are formed, and finally the grain ripens. And as soon as the grain is ready, the farmer comes and harvests it with a sickle, for the harvest time has come."

So I ask myself, “Today, is time my friend?” What strategies do I have in place for the following areas of my life?

• Health and wellbeing
• Thought-life and wisdom
• Wealth
• Intimacy and friends
• My role as a dad
• Neatness and organisation
• My spiritual journey

A loan, such as a home loan, car loan, personal loan can be a strategy to make time a friend. When a lender assesses a loan, part of what they are doing is making a judgment as to whether, in this case, they believe you are making time your friend.

Address

PO Box 3540
Kempsey, NSW
2440

Telephone

+61473662732

Website

http://regfin.com.au/

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