Many of my clients are big fans of Dave Ramsey, as am I. He recommends doing three things this year that will change your life – check it out here. I can help you with two of the three things he recommends. First, he recommends paying off debt or reaching a savings goal – not much I can do about that. His second recommendation is to compile a legacy drawer, that includes your will and other estate planning documents, funeral instructions, financial information and more. I can help with that, and I can give you some horror stories of what happens when people fail to do that. His third recommendation is to seek wise counsel. I work with a network of financial planners, insurance agents and other professionals. If you need counsel on an issue other than estate planning, let me know and I would be happy to recommend someone who can help.
I don’t know why anyone would want to pay off a mortgage that is at historically low rates. 4% or less fixed for 30 years, that is a steal! Paying off other debt is wise, but paying the minimum on a 4% fixed rate mortgage and investing any excess funds available for the long term in a diversified portfolio has been mathematically a better result over the last 100 years! Just my opinion.
Dave Ramsey appeals to your emotion of fear, I work with facts and common sense.