Beginning with the End in Mind
From first time buyers to more sophisticated clients, It always amazes me how lightly most borrowers take their mortgage loan as just a payment with little thought to the end game and to planning contingencies around how in the particular moment as they sign the loan docs it may affect their entire life (add to asset &liabilities, their cash outflow/inflow, risk/disability planning, taxes, lifestyle, future obligations, etc)
I've always realized that my main value proposition was not the rate or the program but, rather I helped utilized financial resources in a manner that helps people most efficiently realize their end purpose. The hard part I believe is in helping people determine their end purpose into goals and planning towards these goals. I get off track sometimes and I think we all do at some point, we're all human and are emotional creatures.
Have you taken a moment to review your personal financing statement to see if it fits into your plan? Do you have a plan?
Comments (2)
Thank you for sharing Im glad the article got you to review things a bit further.
Albert Bui, about 10 years ago
Hello Mr. Bui, I am newbie, but would like to answer those questions for my own think-tank-thoughts sake. For now, my financing statement is vague and not-so-doable. Do I have a plan. Yes, it is slow but sure. I'll share a little if you don't mind:reading BP's Ultimate Begginers Guide, but I'm not just reading it with white lightening speed-taking notes. Will soon be taking carpentry courses. Why? I would like to do some of my own rehabbing and contract out some portions of it-win/win. Plus, I would like to keep busy as my years progress. Lastly, seeking a mentor,, working on resolving my credit issues, and trying to form somewhat of a syndicate for financial purposes. However, I do appreciate the post because its got me thinking again even though I'm already a little overwhelmed:) Have a nice day.
Winona Benson, about 10 years ago