Jump start your journey with our FREE financial resources: https://moneyguy.com/resources/
Reach your goals faster with our products: https://moneyguy.com/products/
Subscribe on YouTube for early access and go beyond the podcast: https://www.youtube.com/c/MoneyGuyShow?sub_confirmation=1
Connect with us on social media for more content: https://moneyguy.com/link-in-bio/
Take the relationship to the next level and become a client: https://moneyguy.com/become-a-client/
Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life.
The s&p 500 gains are based on the same 7 companied last 20 years. It’s not diversified
13:33 LOVE IT!!!
You have to think about a 50 year mortgage in the frameworks of the majority of people who are living paycheck to paycheck. They won't pay a penny extra and the first few years they might pay 100 in principal per year.
50 year mortgage almost certainly is a bad idea. The higher interest rate will make 50 yr mortgage monthly payment the same as a 30 year. rate is usually about 0.5% to 0.75% higher on 30 yr vs 15 yr, so 50 yr mortgage, so add that much and you can math out the monthly payments doesn’t really go down.
I’ve read every book on making money and ‘The Frequency of Riches’ by James Merrick completely explains this. I wish I read it sooner.
A fifty year mortgage likely will have a higher interest rate like a 30 yr does over a 15 year. The payments could be larger than a 30 year. Watch Graham Stephan’s take on it.
DCA gang ✌️
I have insider information that this is actually the plan. The US government is planning to actually devalue the currency and will have another currency standard crisis
Its interesting to hear the MG team compare a 50 year mortgage to BNPL and also say its good for consumers and affordability…🤯
Current homeowners, should love this idea. Increase demand (by expanding buyer pool) while supply remains constricted. Only good things for home values. For buyers, not so much. Because the other (accurate) comparison they made was to a interest-only loan. Yeah, that's basically which this is. It just adds $5 to principle every month to fool buyers into thinking they are "building equity".
50 year mortgage, BNPL, and interest only loans. Just innocent financial tools doing their part to make life more affordable for consumers.
50 year mortgage would be more enticing to rental investors. Thus obtaining more monthly profit due to lower monthly payments. Also interest is deductible. This will of course keep inventory low and rental prices high, leading to increased home prices and low affordablility. Yea great 💡