Debt Free | Mortgage Payment
What would it feel like to own your home with no mortgage? Would it be nice to own it outright? Free and clear? Of course it would be nice. It would feel like ultimate freedom!
“But, that’s impossible!,” you say. “That just doesn’t happen these days!” Well I say, “Not so fast, my friend.” Not if David Bach has anything to say about it.
In his book, The Automatic Millionaire®, David Bach writes about a couple who came to him and wanted to retire in their early 50’s. As a matter of fact, this couple inspired him to write this book. During their working years, the McIntyres earned a $35,000 average household income, but when they decided to retire (did I mention they were in their early 50’s?), they had a net worth of almost $2,000,000! AND, they had no debt. That’s right not even on their rental homes or their residence.
How did they manage all of that? But the more pressing question is how did they do that AND pay off their home?!
It was simple. They accelerated their payments.
David Bach reveals the secret system to debt-free homeownership in chapter 6 of his book, The Automatic Millionaire®. It’s called The Automatic Millionaire® Bi-Weekly Mortgage Payment Plan.
Listen up, because this one little easy strategy could save you upwards of $100,000 or more! This tweak to how you pay your mortgage could even allow you to retire as much as 10 years earlier, because you can pay off your 30 year mortgage in 23 years or less!
Here’s why this system works. This isn’t rocket science, and it is even a little anti-climactic to learn this “secret system.”
Paying bi-weekly payments is the equivalent of making one extra mortgage payment per year. 26 half-payments equals 13 full payments. That is one more payment each year. The savings of the interest compounded over that amount of time is staggering!
Sounds too simple, huh? Well, it is simple, but it really works. For more details, I encourage you to pick up the book and read more.
Also, this really isn’t a “secret system” either. Lenders have known about this strategy for years, and most now offer programs allowing you to take advantage of it. But here’s the key:
So, here are your marching orders: Make it automatic. Call your lender. Tell them you want to set up a bi-weekly payment plan, and that you want to automate it! Set it up to be paid directly from your checking account every two weeks, so you don’t even have to think about it!
Don’t think about this. Do it today, so your next bi-weekly payment starts in two weeks! Here is a summary as to why this is urgent to get started today:
The Powerful Benefits Of The Automatic Millionaire®
Bi-Weekly Mortgage Payment Plan:
1. It will save you $1000’s and maybe even $100,000’s.
2. It creates a “forced savings plan.”
3. Your mortgage will never be late again.
4. This will cut years off of your mortgage schedule.
5. You have a greater potential of being able to retire early with a paid for home.
Apply this one easy strategy, begin saving thousands in interest, and continue down the road to becoming an Automatic Millionaire®. Get the book and find out the full details. Come visit my site to find out more ideas, endorsed by David Bach, that can help accelerate your millionaire plans.