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Quarters in My Loafers Trying to Beat Inflation

October 8, 2021 By E.J. Smith - Your Survival Guy

By Deacons docs @ Shutterstock.com

You can’t put a price tag on freedom, or maybe you can. Because, if you know what you’re paying your bank every month to live in the house they own, you know exactly the price.

Yesterday, I received an email from a married couple. They’re clients. And it just so happens they celebrated their 25th wedding anniversary the day before and have decided to pay off their mortgage.

Do you remember when you paid off yours? I do. It felt great. And the only reason it happened was because Becky and I were motivated to get it done. Why? Because we never forgot the arrogance of the mortgage lender sitting across from us newlyweds, saying he wouldn’t mind if his bank owned our home—a home that we miss to this day because it was our first.

As an aside, Becky and I celebrate our 23rd in November, and what makes working in this business with you so enjoyable, especially at 49 years young, is that I have a front-row seat to your life’s milestones.

When my young clients told me they want to pay off their mortgage, it was music to my ears, even if they might be able to “save” money if inflation’s a big issue and the stock market goes up. But those are some big ifs, and as you know, I’m Your Survival Guy, not your “hope that works out the way you want it to,” guy.

What I hope happens is you get out of debt. Because regardless of inflation or markets, you’ll feel like a million bucks when you do. And that’s worth every quarter stuck in your penny loafers trying to beat inflation (Thank you JB).

Action Line: You don’t own your home if you have a mortgage. Your bank does. And we all know where it will be when you need it most. Be prepared.

Originally posted on Your Survival Guy. 

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E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998.

E.J. has trained at Sig Sauer Academy in Epping, NH, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@yoursurvivalguy.com

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