122 - Basics of Debt, Part 2: Dealing with Mortgages

Episode 122 - Basics of Debt, Part 2 - Dealing with Mortgages In this episode of the ​Sound Financial Bites podcast, host Paul Adams and co-host Cory Shepherd tell the tale of two sisters. One of them paying off her mortgage over 15 years, and the other over 30 years. Through this allegory, Cory and Paul discuss how to pay off your house in a manner that gives you the most freedom. Their conversation covers the basics of mortgage payment plans, the reason that banks benefit from the 15-year plan, and simple interest debt versus compound interest growth. For full show notes, including a FREE PDF of the transcription, visit: www.sfgwa.com/blog/podcast-episode-122-basics-of-debt-part-2-dealing-with-mortgages This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation. Sound Financial Inc. dba Sound Financial Group is a registered investment adviser.  Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.  Investments involve risk and, unless otherwise stated, are not guaranteed.  Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance. Insurance products and services are offered and sold through Sound Financial Inc. dba Sound Financial Group and individually licensed and appointed agents in all appropriate jurisdictions. This podcast is meant for general informational purposes and is not to be construed as tax, legal, or investment advice. You should consult a financial professional regarding your individual situation. Guest speakers are not affiliated with Sound Financial Inc. dba Sound Financial Group unless otherwise stated, and their opinions are their own. Opinions, estimates, forecasts, and statements of financial market trends are based on current market conditions and are subject to change without notice. Past performance is not a guarantee of future results.