Debt Reduction

So many of us start off wanting to be rich and retire wealthy, but as time moves on, we face some reality checks and start to believe that wealth is getting further away and should really start to think about accepting a simpler life and less money to live on.

Then we ask the ones who succeeded in life as to how they achieved their wealth.

Their answer is planning and discipline. Planning involves breaking it down into annual check-ups and following a realistic target to reach the ultimate goal. This is often easier said than done. So we will give you a presentation with all the projections, figures and strategies to make it happen. We will also assist you by monitoring your progress and give you the best chance of achieving what you truly deserve for your retirement.

Just something to be aware of – banks and most finance professionals will sell you their main product for ‘best debt reduction strategy’ such as a Line of credit. This is where your entire income goes directly into it and longer you leave it in the loan the more interest you save, and the compounding effect will save you some money.

Similar products such as 100% offset and 100% partial offset are also available and do similar things. These are great products and we do use them in our strategy, but it is by no means the main product for debt reduction.

You also need to be careful when setting up these products, so that they are structured properly at the beginning to accommodate your future needs. So often we see this mistake and it is irreversible.

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