Decision Points and Life Transitions

Having mortgage debt on a personal residence is an interesting paradox for many wealth creators.  No matter how much risk you might currently be exposed to via business or investments, the home, and mortgage financing, create a tension that is caused by:
  • The family home is a naturally supercharged emotional topic
  • The differences in how each person was raised and what role money, and specifically debt, played in your history
  • Your investment experience and comfort with debt

A long-term client of mine went through a horrible experience earlier this year. Their bookkeeper stole a significant amount of money from them over several years.  To add insult to injury, there was a slim chance they would ever recover any of the money.   As you might imagine, this violation of trust caused a great deal of emotional damage, even though...