The 3 Big Mortgage Mistakes EVERYONE Makes (Real world examples)
In this, you'll see how we saved one client £124,000, why paying off your mortgage may be a big mistake and why high-interest 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 pre-conditioned 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 high-risk 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.
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I am a Chartered Wealth Manager providing financial planning services in the UK. If you would like to find out more about working with me, please follow this link: https://www.videoask.com/fd7wzrtvz (Limited availability)
This channel is for education purposes only and does not constitute financial advice - James is not responsible for investment actions taken by viewers. Please seek out a regulated advisor if you require assistance (while James does run a financial planning business, he does not provide advice through this Youtube Channel, which is not affiliated with his employer).
1:07 Mental Accounting
5:32 Investing Vs Overpaying Mortgage
9:25 High-Interest Rates