This week, David Johnston joined Jordan De Jong and Joey D’Agata from What’s the game Plan? Podcast to discuss all things mortgage strategy and covered off on:
- The 5 top mortgage strategies for creating wealth that help you optimise tax deductions, hold property as you accumulate, manage your risk and support our money management.
- How and why it is costly to neglect your mortgage strategy before selecting a lender.
- How each of the mortgage strategies complement one another, and why they need to align with your Property Plan, for the short and long term.
- How an ineffective mortgage strategy can mean selling property you could have otherwise held and why this could cost in excess of a $1million by the time you reach retirement.
- The science behind how much you should fix, and why it should align with your risk profile.
- Why your repayment strategy is so vital to holding property over the long term and optimising tax deductions.
- Why competing lifestyle (home) and financial (investment) goals create complexity when developing your mortgage and property strategy given it is the only asset class we live in!
- Why the offset account is a critical feature of any mortgage strategy and how it interconnects with each of the top 5 mortgage strategies.
- The difference between an offset account and redraw (and why it matters!)
- What happens when you hit a borrowing ceiling with banks?
For more education on how to set up an effective mortgage strategy
- Read David’s article for ‘Domain’ in the Advice section on “Five mortgage strategies that can grow your wealth”
- Check out our YouTube series – Mortgage Strategy 101
