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Mortgage Broker News | 05 Jan 2015, 12:02 PM Agree 0
Paying down debt is a top priority for Canadians, according to a recent study, and one broker believes helping clients manage mortgage debt is one effective way to earn referrals.
  • Angela Wong-Liao - Invis | 05 Jan 2015, 01:30 PM Agree 0
    I am happy to find out that we, Canadians are working on debt reduction.

    I advised my clients that if they spend beyond their means, they will always have financial challenges, however, if they spend within their means, they can breath and if they spend below their means, they can truly enjoy life and be happy
  • judy | 05 Jan 2015, 01:56 PM Agree 0
    Paying off debt is a better way to hit "Freedom 55, 65, or 75" than what any of the investment firms can guarantee! When you can only get about 2% return on anything insured - you are much farther ahead to put your money on the debt that you have "guaranteed" to your creditors to pay off at a rate much higher than 2%.Over the long run the difference in savings will build and so will your increased net worth.Worrying about debt will shorten and hurt the quality of your life in the long run, so why give the latest "smooth-talker" your retirement savings to gamble? Best to bet on yourself! This is from the voice of experience, however, some debt is unavoidable, like the mortgage on a modest home or car.
  • Ron Butler | 05 Jan 2015, 03:47 PM Agree 0
    Has anyone ever met an average person (not a multimillionaire with private wealth management) who said they had fantastic returns over many years with their personal financial advisor?

    I have never met that person.

    I have met a 1000 people who have told me they averaged about 2.50% a year for 3, 4, or 6 years. So paying down debts is clearly the way to go.
  • @kiltedbroker | 05 Jan 2015, 10:15 PM Agree 0
    There is no doubt that client education should be the cornerstone of any mortgage broker's marketing plan. Sometimes we forget to reach out to our existing clients in favour of 'educating' the clients we are currently working with. This is where having an up to date blog comes in handy! A post on debt reduction on your personal blog would be very timely about now.

    And Ron, nope, I have never met that person either.
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