In this, you'll see how we saved one client £124,000, why paying off your mortgage may be a big mistake and why highinterest rates are not as bad as you think.
I want to ask that you keep an open mind whilst watching this video.
We all have preconditioned views of whether mortgages or debt are good or bad. But these views are often not our own. Instead, they’re typically formed early in life, often from our parents.
Perhaps your parents were big spenders and liked to live on the edge, with large mortgages, and you saw it blow up in their faces. Or, on the other hand, maybe they were big savers and paid off their mortgages as fast as they could, or never had them at all. Perhaps you've even had it drummed into you that all debt is bad.
We see the same thing with stock market investing or pensions. If someone we know has had a bad experience with them, we're likely to assume that they're bad. Or, on the other hand, if someone we know, or see online, has made a load of money betting on highrisk single stocks, we'll assume that’s a great way to make money.
And this is because we put a lot of weight on the stories we hear, from people we know.
But you need to look past these anecdotes and make your own decisions based on data.
Financial Planning
I am a Chartered Wealth Manager and Partner in a financial planning practice based in the UK. If you would like to find out more about our services, please follow this link: https://go.novawm.com/getintouch
DISCLAIMER:
This channel is for education purposes only and does not constitute financial advice. Any opinions or assessments expressed are James’ own opinions or assessments, which are not affiliated with any third party. Any representations stated as facts or views based on such facts are relevant to circumstances applicable at the time of publication. This information should never be relied solely upon to make decisions, and James accepts no liability for any investment actions undertaken by viewers. Please seek regulated financial advice or an advisor if you require assistance. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested.
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0:00 Intro
1:07 Mental Accounting
5:32 Investing Vs Overpaying Mortgage
9:25 HighInterest Rates