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Dianne Williams Wildt, MBA

Certified Retirement Counselor®

Since 1983 in the financial services and investment industry

 

Retirement Pathways, Inc.

4500 Bowling Blvd., Suite 100

Louisville, KY 40207

 

Phone:  502-797-1258

 

Email: dianne@retirementpathways.com

Website: www.retirementpathways.com

January/February 2023

Make Your Mortgage Easier to Live With

Beautiful young couple lying on the floor among cardboard boxes in their new apartment they just moved in. Daydreaming, making plans for the future.

The upside to owning a house is you’re building equity. The downside is the substantial amount of interest you’ll pay over the life of the loan. Finding a way to reduce that amount is a smart financial move.


Just Getting Started?
Shop around for a lender with the lowest interest rate. You’ll pay far less in interest on a 15-year mortgage than a 30-year loan. And a substantial down payment means you’ll have to borrow less.


Already a Homeowner?
You may be able to save interest by putting additional money toward the loan principal each month, allowing you to pay off your mortgage faster. But check with your lender first to make sure that there will not be any pre-payment penalties.


Steps to Take First
Before employing either of these strategies, make sure your financial house in in order.
  • Pay off all other debts, including personal loans and credit card balances.

  • Save at least three-to-six months’ worth of living expenses in an emergency fund account that you can easily access without paying a penalty.

  • Contribute a minimum of 15% of your income to an employer’s retirement plan or an individual retirement account (IRA).


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Investment advisory services offered through American Capital Management, Inc., a State Registered Investment Advisor. Retirement Pathways, Inc. is independent of American Capital Management, Inc.
Retirement Pathways, Inc. and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

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