Dear Scott,
A financial advisory group keeps hounding me with promises of paying off my mortgage faster, using my tax, and retiring early. I’ve hung up on them multiple times, but I finally caved and booked a meeting. Is there any merit in what they’re selling, or is this just another costly sales pitch in disguise?
Sally
Sally,
Pull your bloody head in.
This ain’t a romantic comedy: ‘girl plays hard to get at the start, but eventually gives in, and they live happily ever after’. No, this is more like a horror movie. The guy on the other end of the line is a salesman, and he absolutely has a plan to pay off the mortgage quicker … but it’s his mortgage, not yours. That’s because he’s selling a complex, fee-heavy investment scheme that will make him a lot of money.
Do you want the fastest, safest way to pay off your mortgage?
Make extra repayments.
I know, not sexy. No one’s cold-calling to sell you that advice (except maybe a guy with no shoes). But you know what else isn’t sexy? Getting fleeced by a ‘wealth-building strategy’ that drains your actual wealth.
So please cancel the meeting. You don’t need a sales pitch — you need a plan. So go to the library and get a copy of my book, and the next time he calls ask him to send you a photo of his bare feet.
Scott