A Big Life | A Big Long Mortgage

HAPPY THANKSGIVING to those who celebrate...

Todd Ballenger
November 28, 2024

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"To improve is to change;
to be perfect is to change often."

Winston Churchill

SPOTIFY PLAYLISTS: Thanks for your great feedback on this passion project. For those of you unfamiliar, our Continuum Course is the 3rd in our series.. .they flow as CLA then FAST and then CONTINUUM which is for those graduates that want to continue creating a flywheel of personal outperformance. Much of that work for this coaching series has come from a lifetime of reading and personal work to integrate what I learned into practice. Using AI, I’m converting my entire library of reading into a condensed form of learning and education.

The full library (show) Alchemy of Self - Deep Dives can be found on Spotify, Apple Podcasts, Amazon Music, IHeart Radio, YouTube, or Pocket Casts, Castbox, and GoodPods.

Recently I was talking with a student and realized that having these books grouped by category would be helpful when working on a specific area of interest. I’ve created Spotify playlists below that every podcast can be listened to in a particular order BY the topic of focus, so pick one area below you are interested in, and then click to see the current recommended listening list in order. I’m adding one new lesson each day until I complete the library.

see links below - pick the topic you are interested in and FOLLOW IT on Spotify!

Health and Healing

Business Growth and Excellence

Habit and Mental Discipline

Science and Exploration

AI, and The Future

Spirituality and Transformation

Psychology and Personal Development

Money and Prosperity Mindset

Macro and Economic Investing

a BORROW SMART CONCEPT
Should you Carry a Big Long Mortgage

Why Opting for a Long-Term Mortgage Can Boost Your Financial Flexibility

🏠 Investing Over Paying Off: Opting for a smaller down payment with a long-term mortgage frees up cash, allowing you to invest elsewhere. This strategy can accelerate wealth-building, especially if your investments yield a higher return than your mortgage's interest rate.

⏳ Maximizing Time Value of Money: Making a substantial investment early rather than smaller ones over time maximizes the growth potential of your money, thanks to the time value of money principle.

💵 Enhanced Liquidity and Flexibility: With lower monthly mortgage payments, you maintain more liquidity. This extra cash can be crucial for covering unexpected expenses or seizing new opportunities, particularly during economic uncertainties.

📉 Flexibility – Smart Sam vs. Nervous Nick: Imagine two homeowners with the same financials but different mortgage strategies. Nick aggressively pays off his 15-year mortgage, sacrificing potential savings. Conversely, Sam opts for a 30-year mortgage, investing the extra money. When both face job losses, Sam's choice leaves him financially stable due to his greater savings.

🏡 Building Wealth Wisely: It’s often smarter to carry a long-term mortgage and use your resources to build wealth rather than rushing to pay off the mortgage. This approach puts you in a stronger position to handle financial challenges.

📚 Note on Tax Implications: Always consult with a tax advisor to ensure you have the latest information regarding the tax implications of your mortgage strategy.

Remember, a balanced approach to mortgage and investment can offer not just a home, but also financial security and growth.

Read the whole thing:

	11-reasons-to-carry-a-big-long-mortgage-an-update.pdf1.32 MB • PDF File

Or listen to it here:

11 Reasons to Carry A Big Long Mortgage by The Borrow Smart Conversation

This text presents a debate between two financial professionals, Ric Edelman and Todd Ballenger, regarding the benefits of carrying a large, long-term mortgage. Ballenger argues that Edelman’s 11 reasons for doing so are outdated and misleading, particularly regarding tax deductions, equity growth, and the value of early investment. Ballenger advocates for a more nuanced approach to financial management, considering the individual’s financial situation and future needs. Ultimately, both advisors agree that the best strategy depends on the specific circumstances of the individual.

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