Wealth Creation Plan
When ever I sit down with any client, I go over my wealth creation plan with them. These strategies take your largest asset, your home, and put it to work. The importance of finding financial freedom falls more in line of being able to live independently of debt and not on eliminating all debt.
The first part of the plan is called Advantageous Acquisition. I make sure that we uncover all of the avenues to purchase your new home and make the best possible decision for you. We cover cash flow options, as well as, the importance of maintaining liquidity and rate of return.
When we close, I give you a yearly “Mortgage Check Up” at no cost to you. During this yearly review, we review your credit for any identity theft and go through all of your household blended debt. Most people think that they are OK because they have a 5.25%, 30 year fixed rate on their home. They fail to consider their credit cards, home equity line of credit and various other high interest debts. The second part of my Wealth Creation Plan is to consolidate and minimize all bad debts. We will go through all of your expenditures to make sure we are maximizing all of your available assets and minimizing any tax implications while managing cash flow.
The third section of my plan is the establishment of a liquid emergency fund. Depending on your line of work, I will recommend that you have 4-6 months of living expenses put away in an account that is liquid in the case of emergency. This money may come from a cash out refinance. That is the stress of the last part of the Mortgage Check Up. I will assess your home equity to ensure that we are managing it to the maximum. A sound investment consists of safety, liquidity, and rate of return. Since home equity does not meet any of this criteria, we reposition the equity into other investments to take advantage of ALL of your assets. When you need your home equity the most, it will be the hardest to get (how likely is the bank to give you a loan if you hurt yourself at work or get laid off?). By maintaining that liquidity, you can make it through the hard times without ruining your credit or losing your house because of an inability to make the payments.
The last part of the Wealth Creation Plan is Retirement planning through successful home equity management. I would never advocate taking equity from your home to buy material possessions (think cars, boats and big screens). My plan includes various investment vehicles that will maximize your largest asset. I am not securities licensed so I will work with your financial planner, or help you find one that complements your investment style, to implement these plans and help you achieve the financial freedom you desire.
Call for a FREE consultation! Take two hours of your day to see where you stand and listen to my strategies. If you decide you don’t want to start a plan, there is still no cost to you. I have several customers that have followed this plan (not to mention myself) that have achieved financial success much greater than they every imagined.
If you would like to schedule an appointment, contact me toll free at 877-544-2888, ext. 21 or E-Mail me at bhunton@1stmetro.net.