Blind Ranking (Setup 02) #3: Grading Our Parents' Mortgage Advice
Mortgage Report Card.
Can I grade some of the mortgage advice our parents gave us?
Before I do...
our parents weren't wrong.
They gave us the best advice they had for the world they
lived in.
The problem is...
the world changed.
So let's hand out some grades.
Rewritten in full, trimmed to 5 items, your July 22 pass.
C+ — "Always take a fixed rate because it's safer." Safety has
value...
but "safe" and "best" aren't always the same thing.
D — "Pay your mortgage off before you invest." For some people,
yes.
But there are strategies that can help you reduce debt and build
wealth at the same time.
D — "Never borrow against your home." Sometimes that's excellent advice.
Sometimes it's the biggest missed opportunity in someone's financial plan.
A — "Prioritize your home over your car." Finally...
one I completely agree with.
A home has the potential to build wealth.
A car almost always goes the other direction.
F — "Just get the lowest mortgage rate." Not because rate doesn't
matter...
But because mortgage structure almost always matters more.
The lesson?
Don't throw out your parents' advice.
Update it.
Because if the world changes...
your financial playbook should too.
[CTA · optional, pick one]
Comment ADVICE and I'll send you my updated playbook.
Or, simpler: "Follow me for more like this."