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Problem:
John and Carol are in their mid 30's. They have a 5 year old son and are expecting another child. John is a teacher and Carol is in management. John and Carol make $94,000 per year. They are servicing too much debt, have very little savings in case of emergency, and no longer contribute to their retirement account. They have NO PLAN.
Solution:
John and Carol have a significant amount of dormant equity with the wrong mortgage in place. We recommended taking cash out to establish a cash cushion for emergencies, eliminate all "non-preferred" debt, and set aside remaining $17,000 to pay cash for a new auto in 4 months when their auto lease expires. We scheduled a consultation with a financial advisor, a life insurance provider, and estate planning attorney.
Result:
John and Carol improved their monthly cash flow by $2415/mo., which is 47% of their take home pay! John and Carol have adequate life insurance, a financial plan, and peace of mind.
Please read on, it gets better for John and Carol!
Click to download PDF (102k)
Problem:
Jim and Mary are in their late 40's. They have 2 teenage boys and make $133,000 per year. They are servicing too much debt with the amount of assets they have, and do not have a comprehensive financial plan or team of trusted advisors in place to allow them to meet their 8 year retirement objective.
Solution:
Jim and Mary have a significant amount of dormant equity with the wrong mortgage in place. We recommended taking cash out to eliminate all "non-preferred" debt, and harvest an additional $105,000 in dormant equity to invest immediately. We scheduled a consultation with a financial advisor to develop a comprehensive financial plan that would help them get on track.
Result:
Jim and Mary improved their monthly cash flow by $1000/mo. by eliminating their "non-preferred" debt and taking a new, higher mortgage (counter-intuitive). In 5 years, Jim and Mary will have more than enough money as a result of the refinance to eliminate their new, higher mortgage! Had Jim and Mary not refinanced and continued to service debt, their mortgage balance in 5 years would be still $89,000! Most importantly, Jim and Mary would not have accumulated an additional $282, 470 as they prepare for retirement.
Please read on, it gets better for Jim and Mary!
Click to download PDF (104k)