A Personal Finance Guide

Why Experts Are Telling YOU Not to Change Your 401(k) Or Pay Off Your Mortgage

Like most Americans, Baby Boomers George and Gina Jackson have seen a 35% drop in their 401(k) retirement nest egg in 2008. Instead of being the “conspicuous consumers” they have been in the past, the Jacksons are now saving as much money as they possibly can. The Jacksons have trimmed back in many small ways, but now they are looking at the big ticket items, such as their home mortgage and their remaining investment portfolio.

Why YOU Should Do This, Too

Many financial experts and advisers are telling their clients not to change their portfolios. Of course, these advisers have a vested interest in their own commissions, even while telling their clients they will “take care of them.” Is this good advice in today’s economy?

If you had a 70/30 spread in your 401(k) split between stocks and bonds in 2008, you just lost an average of 35% of your nest egg. Your investment adviser may be telling you to switch to a 10 year treasury instrument which is expected to yield 3.75%. Doing a little arithmetic on the back of an envelope reveals that it would take approximately 12 years to even make your money back. How do you plan to retire with returns like these?

But here is an extremely important step. If you are contributing to a 401(k) then keep contributing at least up to your employer match. This is money you would never get unless you are contributing to your 401 (k)

Home Equities

In most markets, home equities are still staying ahead of inflation rates. However, many Americans are directing a large portion of their available funds to their home mortgages, even after refinancing those home loans at low rates. An alarming number of Baby Boomers will face mortgage debt at retirement age with little in savings to pay for their homes. Will this be you?

Plan B

Your biggest debt is most likely your home mortgage. There is a way you can have a Plan B in place to eliminate this debt without scarcity or much change in your current lifestyle. You absolutely can retire without taking on a second job or without dipping into your retirement income to survive.

By paying off your home mortgage early, you can save as much as $67,636 in mortgage interest payments. You can do this without making additional payments toward your mortgage principal. You can cut the term of your mortgage by 13 years. With the money you save, you can buy that vacation home and retire in peace.

Learn today how you can create a legacy for your family. You certainly CAN foster a debt-free lifestyle for yourself, your children, and even your grandchildren.

To find how fast you can eliminate your mortgage debt and retire early, please go directly to http://www.eqxl.com/mortgage-accelerator.html, enter your information directly into the free mortgage pay off calculator and within 4 seconds it will reveal your savings for your specific situation.

And we will give you a valuable guide that reveals the steps to take, so that you can be on your way to being mortgage free today.