Debt Elimination Program

Because there is a lack of financial education today, most people spend their lives in debt narrowly focused on making monthly payments without any real comprehensive strategy for creating wealth and the lifestyle they dream of.  

Here are two familiar ways people approach eliminating debt and a third way that we think is a better way.

TYPICAL PLAN - Make 360 monthly payments to the bank or take this approach multiple times as you move from one home to the next over 30+ years.  This is a slow, steady and painful plan with a very high percentage of your total mortgage payments going to pay interest on the loan(s).  This is very costly and other debts are handled in similar fashion where monthly payments are made over the term of the loan.  With any luck, you will be out of debt in 30 years!

DO WITHOUT PLAN  “Eat beans and rice” and put any extra money into the mortgage as extra principal payments.  Other debts, such as car loans, student loans, credit card balances etc., are handled similarly.  You scrimp and save wherever you can to pay off and pay down your loan balances.  As one debt is retired, the “extra” money is put to work paying down some other debt.  This does accelerate getting out of debt and minimizes the amount of interest paid.  However, unforeseen circumstances create additional debts prolonging the process.  It is only when you are finally out of debt that you are (feel) free to spend on previously thought of “luxuries” such as nice vacations, college saving, retirement, new cars etc.  With discipline, you very well may be out of debt in 15 years!

There is a better way!

WEALTH BUILDER PLAN - Once you understand the power of uninterrupted compounding interest and how to make your money do more than one job at the same time, you can in fact get out of debt, including your mortgage, student loans, and other consumer debt in record time.  You no longer have to worry about the unexpected surprises and opportunities that tend to derail your plans, and you will be building a strong foundation for the future and protecting your family against losing all you have worked so hard to achieve.

 

All of this is done without spending any more than the TYPICAL PLAN and many families find that they are able to be out of debt is less time than the DO WITHOUT PLAN*. ​

 

The WEALTH BUILDER PLAN puts you in complete control of your financial future, frees you from the rules and requirements of typical financial planning, and lets you live life to its fullest today and tomorrow!

© 2021 Real Family Wealth

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