238: Why You’re Wealthier Than You Think
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 29 April 2019
⏱️ 53 minutes
🧾️ Download transcript
Summary
Keep your debt. Get financially-free instead.
We’re talking about good debt. Retiring your debt often means you can’t retire yourself.
Home equity is:
- Unsafe.
- Illiquid.
- Has zero rate of return.
So then, why have so much equity in any one property?
Back in The Great Depression Era, banks could call your loan due-in-full anytime. They can’t do that today.
Don’t fear mortgages. Embrace them; even collect them!
Every dollar that goes into mortgage principal paydown is a dollar that you didn’t invest.
Separating equity from your home gives you more dollars to invest, not save.
Paying down your mortgage INCREASES your foreclosure risk. Most think the opposite is true.
Have a lot of home equity? Treat it as you like. But you probably have more dollars to invest than you think.
So what’s the formula? Consider keeping low equity positions in many cash-flowing investment properties.
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__________________
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Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host Keith Weinhold. How much would you invest in something that could never go up in value but only go down? Well, nothing. That sounds awful. Then why are you so heavily invested in this exact vehicle? In fact, chances are you have a substantial sum of money that you didn't even know you had today on Get Rich Education. |
| 0:26.0 | MC Lobbscher is the host of the Cashflow Ninja podcast and president of producers wealth. |
| 0:31.4 | He is on a mission to help you achieve financial independence and freedom as soon as possible. |
| 0:37.0 | He achieves this by integrating |
| 0:38.3 | the infinite banking concept with real estate investments to increase their returns and recapture |
| 0:43.8 | cash flow that you are not even aware of that you're losing. MC shares the number one strategy |
| 0:49.1 | of investors in his holistic wealth creation course at your own banking system.com. |
| 0:56.9 | Learn the easiest way to create wealth and passive income with real estate. |
| 1:00.7 | Now you can access the best deals without the stress or hassle of having to find, |
| 1:04.8 | renovate, or manage those investment properties. |
| 1:07.0 | Nerata real estate saves you time by providing you with passive income investment properties in some of the best U.S. markets. |
| 1:12.9 | Learn more at passive real estate investing.com and download your free copy of the ultimate guide to passive real estate investing. |
| 1:19.7 | There's no obligation and nothing to buy. Simply visit passive real estate investing.com. |
| 1:27.2 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 1:34.4 | This is Get Rich Education, episode 238. I'm your host, Keith Weinhold. If you had enough money to pay off your home mortgage right now, would you? Many people would. In fact, |
| 2:02.9 | some people think that part of the American dream is to own your own home and own it outright |
| 2:09.4 | mortgage-free. If that dream is so wonderful, well, then why do countless financially |
| 2:15.0 | successful people who have more than enough money to pay off their |
| 2:18.1 | mortgage refuse to do so. |
| 2:20.9 | Facebook founder Mark Zuckerberg, for example, got a mortgage for his home, although it was |
| 2:25.3 | totally unnecessary. |
| 2:27.4 | My own home that I live in, my primary residence could be paid off this week if I wanted |
... |
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