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- The Borrow Smart Chronicles - Why Carry a Big Long Mortgage?
Do not think that what your thoughts dwell upon is of no matter. Your thoughts are making you.”
ChatGPT image of a person finding money right on the street
Reminder: I got another check the other day from my filings for Missing Money. I’ve posted on this several times and you should do this for yourself, and you should share it with your clients: https://www.missingmoney.com/
I put some education about it here: https://www.niofe.org/missingmoney with materials you can use to promote to your clients and referral partners.
Be the person that finds them this money :-).
a BORROW SMART CONCEPT
Reasons to Carry a Big Long Mortgage
After putting together my thoughts about the last published version of the Ric Edelman - 11 Reasons to Carry a Big Long Mortgage, I've consolidated them into a simple e-book that you can download and read as a 'short story'
Reading this will help you with key aspects that include:
Why are mortgages a great financial planning tool?
Why a longer mortgage is best for most people?
How to position your experience as a liability advisor?
Where did the original article need updating or was it misleading?
How you might make changes to your lending and investing?
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LIABILITIES and DEBT
What’s Happening.
rates dancing upwards again
expectation now for only 50bps cuts this year
US promoting mortgages more than home ownership
credit cards getting harder to pay - reason Freddie getting into 2nds?
using more of their lines
all trending up except student loans
“Knowledge is power."
REAL ESTATE
What’s Happening?
surprising increase in sentiment this past week
more older owners, but see money dynamics below for Boomers…
new rentals coming online to solve inventory challenges
positive sentiment on new home interest
still low inventory abounds
and in some cases demand not picking up that inventory
“Be not afraid of growing slowly, be afraid only of standing still.”
ASSETS and INCOME
What’s Happening?
amazing stock market performance
boomers have the money
but the Millennials will end up with it (barring major healthcare discoveries)
interesting dynamics
stonks go up but expect volatility later this year
we could be at beginning of a new bull market
if this stays up we could see a huge unexpected move up
tougher on the low end of finance
so true…
“The smallest deed is better than the greatest intention.”
ON BEING HUMAN
What’s Worth Sharing?
The quest for AI supremacy starting in the US
The 100’ Well is something we teach in our CLA. You can’t successfully find life sustaining water if you dig 20 wells each 5’ in depth. You need to find your first 100’ well, then you can dig others but with the caveat you must dig to a reasonable depth or don’t dig anything other than a quick exploratory hole.
"You'll probably surprise yourself with what you can accomplish—if you're focused on one thing.
You'll probably frustrate yourself with what you fail to accomplish—if you're doing 5 or 7 or 10 things.
Nobody performs well when stretched in a half dozen directions."
DOPAMEMES
And Other Happy Moments…
Two GPT-4os interacting and singing
— OpenAI (@OpenAI)
6:39 PM • May 13, 2024
Artificial Intelligence
And the Future of Work…
This demo is insane.
A student shares their iPad screen with the new ChatGPT + GPT-4o, and the AI speaks with them and helps them learn in *realtime*.
Imagine giving this to every student in the world.
The future is so, so bright.
— Mckay Wrigley (@mckaywrigley)
6:37 PM • May 13, 2024
Have that graduation photo with a watermark you don’t like:
https://watermark.phd/en
Khanmigo is an AI tutor from Khan Academy who helps students solve problems. https://www.khanmigo.ai/
ElevenLabs has a new reader tool! Vocalize text from your screen in different voices. https://elevenlabs.io/?utm_source=theneuron
CHATTER interactive podcast that is built for you based on your interests. https://chatter.hume.ai/
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