With the Baby Boom generation on the cusp of retirement and younger Americans increasingly worrying about the future viability of social security, the issue of retirement planning is prominent in the collective consciousness of Americans. Unfortunately, some Americans have stuck their heads in the sand and simply assume that the future will take care of itself. Perhaps more tragic, according to authors Pete Mitchell and Jim Pidd, many Americans are actively trying to prepare for retirement but they are missing out on a dynamic wealth building opportunity that is resting at their financial feet. In their new book The New Mortgage Investment Advisor Mitchell and Pidd tackle the conventional wisdom regarding how Americans view their home mortgage and turn that wisdom on its head. Examining the historical, social, and psychological motivations for why Americans aggressively pay down their home mortgages, the authors demonstrate the serious financial impact that this traditional financial strategy has on accumulating wealth. With in-depth analysis to serve the financial professional, yet practical enough to stimulate and provide clarity to the financial layman, the authors address key issues such as: How mortgages can be structured to maximize income tax deductions. The financial viability of interest only, Traditional Option ARM, and Secured Option ARM loans. Arbitrage and the powerful savings techniques that can generate tremendous wealth without any additional investment capital than what you are already using. How accumulating equity in one's home is NOT an investment. How to unlock the investment potential of trapped home equity. Preparing one's retirement nest egg to avoid or minimize tax liability upon withdrawal or inheritance. Why traditional 401k and IRA investments may leave you tens of thousands of dollars short of your expectations when it comes time to retire and withdraw funds, and much more. Whether you are a Baby Boomer with retirement looming, a younger American with decades still to prepare for retirement, or a financial professional looking for new and improved ways to better serve your client's retirement needs, The New Mortgage Investment Advisor can provide strategies to help make the golden years of retirement truly golden.
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Most Helpful Customer Reviews
I've been a Certified Mortgage Planner. I've seen many, many people in the wrong type of mortgage with little to no planning for their future. They were almost always in the wrong mortgage because they didn't have the knowledge they needed to make a better choice and took someone else's advice. The same goes for retirement planning. People need to learn more about the reasons behind the choices they need to make. I got into mortgage planning because I wanted to find a way to help people. And there are not many other ways where I could have the impact I wanted to have. I understand from experience what kind of impact both the right and the wrong choices can make. This is the best resource I've read to date for both the consumer and the mortgage professional on the types of mortgages and their use when you're practicing equity management which I believe should be a part of every homeowner's retirement plan. I now help lead what we hope will become the premier debt elimination company in the country. I speak to mortgage professionals every week and at the time of my writing this review I'd say about 25% of the people I speak to thoroughly understand what this book can teach you. That's not good enough, and it tells you why it's so important for you to be knowledgeable and have an understanding of mortgage types and how they'll affect your entire financial future. There are going to be other reviews which will argue against equity management because it's not the right choice for a small percentage of homeowners. The Chicago Fed came out with a report last year that supports equity management. But that argument is not the point. I don't care what type of account you use to build your retirement. The point is you need to build a retirement that fits your needs and over 90% of Americans are not doing that right now. You need the knowledge to make good choices. This book has to be one of the resources you learn from. Don't let arguments over the best kind of retirement accounts keep you from learning what you need to know. Read this for yourself and for your future.