ADAM CARROLL | The Shred Method

It's one of the oldest questions in investing. Pay off the mortgage first or put your money to work investing. In a rising interest rate environment, it's becoming harder to do one or the other, let alone both. In this episode, I'm joined by Adam Carroll to talk about shredding that mortgage.

Adam Carroll paid off his home in record time saving over $180,000 in interest in the process, he's sharing his strategy with the world to help people become mortgage free. He's published four books, produced an award-winning documentary on student loan debt, and has a TED Talk with over 5 million views.

Here's a link to the The Shred Method website where you can sign up for Adam's webinar:

Registration Page Webinar Website (theshredmethod.com)

TRANSCRIPT FOLLOWS AFTER THIS BRIEF MESSAGE

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EPISODE TRANSCRIPT

Chloe (1s):

Stocks for beginners.

Adam Carroll (3s):

When I ask people about what is wealth to them, and they'll tell me, happiness, freedom, not, not worrying about bills, having enough to make ends meet. I mean, I hear a lot of different definitions of what wealth is, but for me, wealth is simply, if my current income stop tomorrow, how long could I live my current lifestyle? That truly is wealth to me is it's a, it's a measure of time in that our goal as a family is to get to a point where our wealth will outlive My wife and I.

Phil (35s):

Hi and welcome back to Stocks for Beginners. I'm Phil Muscatello. It's one of the oldest questions in investing. Pay off the mortgage first or put your money to work investing. In a rising interest rate environment, it's becoming harder to do one or the other, let alone both. Today I'm joined by Adam Carroll to talk about shredding that mortgage. Hello Adam.

Adam Carroll (56s):

Hello Phil. Thank you for having me on the program.

Phil (57s):

Thanks for coming on. Adam Carroll paid off his home in record time saving over $180,000 in interest in the process, he's sharing his strategy with the world to help people become mortgage free. He's published four books, produced an award-winning documentary on student loan debt, and has a Ted talk with over 5 million views. So tell us about your background from Des Moines, Iowa, I believe.

Adam Carroll (1m 22s):

Yeah, that's right, Phil. I always been there. I I, well, no, candidly, I was born and bred here, raised until I was in around third grade, moved to California. I moved to Minnesota. I came back to Des Moines to, to finish high school. And then once I graduated from university, my wife, my new wife, and I said, let's get outta here. And we did what most people in the Midwest do. They went to the big city. We lived in Denver, Colorado for about a year and or about two years, I'm sorry. And then we came back to the Midwest, relocated to Texas, and then finally put down roots. And we've been here ever since. So we've been stationary in Iowa here in the Midwest for about 17 years at this point.

Phil (2m 8s):

And how about career wise? What have you been, been up to in your career?

Adam Carroll (2m 12s):

You know, people have accused me of, of being a jack of all trades, Phil, as you mentioned in my intro, I've written a few books. I did a, a documentary on student loan debt. I have delivered probably over a thousand paid presentations in my life. And deep down, I, I think when people ask me What is it you do, I would tell them I'm a storyteller. I like to go out and, and tell stories and have a message tied to the story. Sometimes that's in book form, sometimes that's in speech form. Sometimes I'm consulting with a company and just asking great questions. But my, my career has really centered largely around human behavior and specifically around personal finance and how people are making, you know, their, their personal financial decisions on a daily basis.

Phil (3m 0s):

Human behavior. It's a continually fascinating subject, isn't it?

Adam Carroll (3m 5s):

Indeed,

Phil (3m 5s):

Indeed. All the mistakes we keep on making over and over again.

Adam Carroll (3m 9s):

And what's most amazing to me is just how predictable some people are. And that's really what's, what's wild is I'll go into companies today and they'll say, well, we're really having a problem with X, Y, and Z. And then I dig into it and I go, it's not all that out of the ordinary. You know, most companies are having the very same thing with these kind, you know, these kinds of behaviors or personalities

Phil (3m 34s):

That, that old problem. Yeah,

Adam Carroll (3m 36s):

That's

Phil (3m 37s):

Right. So what's the relationship between debt reduction and investing?

Adam Carroll (3m 41s):

I, I, along with probably half of society, was raised with the message of get started very early, put lots of money away as fast as possible. You know, get to that compound interest inflection point early on in your life if you can. Hmm. And yet at the same time, I think most people are conflicted with the idea that they want to buy stuff. And when we start making money in our twenties, you know, investing seems sort of secondary to that new car that we want or that vacation or the concert we want to go to. There are young people in their twenties that have massive amounts of student loan debt. They're also battling. And so, you know, when we look at should I invest or should I pay down debt?

Adam Carroll (4m 26s):

There is, there is this double-edged sword of if I do one, then I'm not able to do the other. And if I'm doing one like investing, I'm gonna have debt for the rest of the, or maybe not the rest of my life, but certainly the next 15 or 20 years. And my wife and I took a different approach, Phil. We early on in our, our early twenties, we said, what if we do for two years what most people won't do, which is live on one income and completely blast away our debt? And what we found interestingly was that by getting really laser focused on blasting away the debt, 2 24 months later we had $3,000 a month in discretionary income that could be going into investments.

Adam Carroll (5m 12s):

And so we, I personally and my wife and I both have challenged that notion that, oh, you should just dollar cost average over the course of x number of years when our experience was, if we get really intentional about paying off debt, we can do way more than dollar cost average right after that debt is paid off. And certainly, you know, we make it sound easy cuz we were two income family and we, we were dinks dual income, no kids, but it, but it really changed the way we live forever. And our goal is to help other people do the same.

Phil (5m 47s):

And, and that's a real problem is that it's the interest that you're paying on a mortgage is after tax That's right. From your income as well. But in a way that does make a lot of sense to pay that down first, doesn't it?

Adam Carroll (5m 60s):

It it does. And for a couple of reasons, you know, we look at, when we start working with clients, we look at their interest to income ratio. And this, this is probably not something that's written about in many books. It was something that came to me in working with a client and,

Phil (6m 14s):

And the banks will never tell you that one either.

Adam Carroll (6m 16s):

The banks will never tell you that's, that's why if you drive within a mile radius of my home, there's 20 new bank buildings going up. But you know, we look at this interest income ratio, which is how much are you making versus how much are you spending an interest of what you're making? And we've had clients that will say, oh I'm, you know, I'm making six figures, you know, great income. But if you take out taxes, you know, they're down to maybe 70,000 and then you take out what they're paying an interest expense on their mortgage, on their student loans, car loans, credit card debt. They're really down to more like 35 or 40,000 a year and trying to live on that and, and get ahead and build wealth.

Adam Carroll (6m 58s):

And so what we do with our clients is have them look at how much interest are you paying every single month, and then how do we begin to really ratchet that back? And one of the ways to do that is through the shred method and accelerating your amortization table.

Phil (7m 13s):

Oh, what's an amortization table?

Adam Carroll (7m 16s):

I love this question and, and I would expect nothing less on your show as we get into some of these, the terminology, right? Yeah, yeah. The amortization table is when you look at your mortgage, your mortgage, if it's a 30 year fixed mortgage, the amortization table shows payment one through payment 360 and shows you how much of your payment's going to principle and how much is going to interest.

Phil (7m 41s):

Oh that's like on those mortgage calculators that you fill in online just to see. And they can always give you that little chart, don't

Adam Carroll (7m 47s):

They? That's exactly right. And it looks like a waterfall. But here's a trivia question for you and your listeners. Phil, at what year in a 30 year fixed mortgage have you paid off half of your mortgage?

Phil (7m 60s):

Oh, it's usually something like 20 years. Something around about that point.

Adam Carroll (8m 3s):

Yeah, 21. So in year 21, if you've paid 21 years consecutively, you've paid off half of the mortgage and there's half of it yet to be paid back. So today what we're finding here in the states at least is that interest rates are six and a half percent on a 30 year fixed mortgage. And on a $700,000 mortgage, which may be on the high end, but 700,000, you'll end up paying about $976,000 in interest on a $700,000 mortgage for a grand total of 1.6 million, 1.67 million. So, you know, when, when we're talking about accelerating the amortization table, what we're really doing is eliminating months and months and months of interest on the front end of the mortgage.

Adam Carroll (8m 53s):

So more and more of your payments going to principle every single month.

Phil (8m 56s):

So tell us about the process of developing the shred method. I mean, you've, you started off your wife and yourself paying down debt as quickly as possible. Yeah. What led you then to the, the procedure and the process of the shred method?

Adam Carroll (9m 9s):

This, this was introduced to me and, and your listeners may appreciate this, Phil, that this used to be called an Australian mortgage. And there was a lender in Australia that had created what they called, I believe, a sweep account. And the sweep account was basically your income would go into the sweep account, you would pay all of your expenses out of the sweep account, but you could borrow against it from time to time to apply towards, towards, you know, other debts, your car loan, your, your mortgage student loans, et cetera. First of all, I read an article about it, got really intrigued by it, went and found a couple of books on the topic and then realized this, this could be done here.

Adam Carroll (9m 51s):

A sweep account could be a savings account, it could be a, a home equity line of credit called a heloc. It could be used on any of these accounts. It really is just understanding the flow of money through your household. And again, societally we've been taught that we should have six or 12 months of living expenses in the bank and we should keep these big large sums in the bank account where it's safe and secure. And yet the only, maybe not the only, but one of the parties that really benefits are lenders. The banks, through the process of fractional reserve banking or lending, every $10,000 I have in the bank is a hundred thousand dollars they can loan out.

Adam Carroll (10m 34s):

So it's in their best interest for me to have a big sum of money in a bank account. Whereas for us as consumers, it actually is better for us to have that money either working for us in the market or working against some of those compound interest debts that we're carrying.

Phil (10m 51s):

Yeah, it's a pretty sweet deal for the banks, isn't it? That they get this continuing stream of income backed by very solid property based security.

Adam Carroll (11m 1s):

If, if you look at it acutely, it's probably one of the safest business models there is and, and it's no wonder that banks have scored record profits year over year over year. I heard one person put it this way and I thought this was brilliant, the way he described it. He said, we as consumers are the bank's compound interest vehicle, we, and we pay it and we dutifully pay month after month and don't really pay attention to how much interest we're actually paying. But early on, my wife and I had had learned one little factoid that I thought was super important and it was that the two greatest expenses that we'll ever have in life are taxes and the interest expense on debt.

Adam Carroll (11m 45s):

And you can manufacture ways to minimize your tax liability through investing, through owning a business, real estate, et cetera. And you can minimize the interest expense on debt by either decreasing your debt rapidly or decreasing the interest rate charged on the debt. And when you do both of those in tandem, the ability to build real wealth, it exponentially multiplies.

Phil (12m 14s):

So do you believe anyone can do this using this method?

Adam Carroll (12m 16s):

This is a tricky question because we've had a number of folks that will, will ask us about using the shred method. And when we dig into their numbers, what we find Phil, is they have more month at the end of their money. Right? Not more money at the end of their month. And so for some folks that are maybe more prone to just spend, spend, spend, this probably is not ideal, but if you are consistent and you have a commitment to have more money at the end of the month, the shred method really is a way of showing you how to create a much more efficient flow of money through your household and pay off debt quicker. So can anyone do this?

Adam Carroll (12m 58s):

Yes. Is it for everyone? Probably not.

Phil (13m 2s):

Yeah, it requires a bit of commitment to, I'd assume

Adam Carroll (13m 4s):

It does. I will tell you that my wife is at the center of this for me because when we met, I was a debt statistic. I had made all manner of mistakes, you know, with money growing up. And then I met her and realized, oh, there's actually another side of this coin. And that coin at the time looked like couponing and being super frugal and those kinds of things. But what I really figured out is that I play really good offense and she plays really good defense. And when, when a couple comes together and have similar goals and each can play a part in that, you can pretty much accomplish whatever you set your mind to.

Phil (13m 47s):

You mentioned the word frugal and that brings to mind the fire movement, the fire financial independence, retire early movement, which is catching on Yeah. In a big way these days. What are your thoughts on the fire movement and do you have to live on tinned baked beans

Adam Carroll (14m 2s):

To do this? But it's certainly not my model. I, I love the idea of the fire movement financially independent, retire early. My challenge with it is that I think even the people who quote unquote retire early, don't ever really retire Phil, they just figure out what they want to do next. And I, I like that idea. I heard someone describe it as fine f i n e, which was financially independent next endeavor. And I love that idea. I, I think that deep down, Jen, my wife and I were, were really part of the fire movement before we ever understood what it was.

Adam Carroll (14m 43s):

But I described it a different way. I think that I, I think that at some point in our lives we are all looking to never work for anyone. Whether that be we're self-employed or we have plenty of money so we don't have to work. The goal at some point is to never work for anyone. And if that means that you do it in your thirties or your forties or you wait till your sixties or seventies to do it, the goal really should be to have that in mind, that at some point you're not reliant on the government or a a, a pension would be ideal, but even those are, you know, going the way of the dinosaur. I think that to, to set yourself up for financial success is a very prudent thing to do today.

Adam Carroll (15m 24s):

So I would love for fire to catch on, although I think if all of society is being frugal, we may have some gross domestic product challenges as well.

Phil (15m 33s):

Gotta have a few big spenders out there.

Adam Carroll (15m 35s):

Gotta have some spenders.

Phil (15m 36s):

So that sounds like your definition of wealth and financial freedom then. Is there any more that you wanted to expand on in that point?

Adam Carroll (15m 42s):

I, I have long described wealth as a measure of time. When I ask people about what is wealth to them and they'll tell me, happiness, freedom, not, not worrying about bills, having enough to make ends meet. I mean, I hear a lot of different definitions of what wealth is, but for me, wealth is simply, if my current income stopped tomorrow, how long could I live my current lifestyle? That truly is wealth to me is it's a, it's a measure of time in that our goal as a family is to get to a point where our wealth will outlive my wife and I. And that just means that we're gonna live the same life. If we were to live the same lifestyle we could live for the next 50 years and never run outta money.

Adam Carroll (16m 27s):

What it does is it forces a little longer term plan around money, not only in investing in terms of how much we have in the market and factoring in the rule of 72 and how many times might it double in the next X number of decades. But also our mentality is around passive income. So not just equity investing or index investing, but also alternative investing that's generating a monthly return that extends our wealth. Cuz I have it that if you were to ask most people how long could you live your current lifestyle, if your income stopped tomorrow, they'd say, well, it's Tuesday, so Friday, you know, Friday at 4:00 PM So, you know, wealth for me is, is more a measure of time and I think it forces this long distance view of setting future u up for success.

Phil (17m 21s):

And so investing is a big part of this, I'm, I'm assuming, for generating an income. Yeah. Without going into too much details, what are you personally looking for in terms of where you're getting returns from and especially you mentioned alternative investments.

Adam Carroll (17m 35s):

Yeah, there's really two or three things that I'm looking for. Phil. I learned one little tidbit from Robert Kiyosaki's book Rich Dad Poor Dad. And it was the idea that net worth is an opinion and cash flow is a fact. And so how much a duplex is worth is based on how much someone's willing to pay for it and what the market's doing that's net worth. But knowing that that duplex is putting $500 in my pocket every month, that's a fact. And so when I'm looking at investments, I'm looking at what is the fact of that investment? How much cash flow is that investment producing? So if that is real estate, it's gonna be a monthly cash flow if it's an equity of some kind.

Adam Carroll (18m 18s):

I'm a big fan of buying stocks on sale. This came from a book called Rule One Investing by Phil Town. And in that book he said that when you can buy a dollar for 50 cents, you'll never ever lose money. And I was at a program with Fell Town one day where he was trading in real time and he said, how many of you would buy Chipotle Mexican grill stock? And we were all kind of like, yeah, yeah, I suppose. And it was at $300 a share at the time. And he said, this is a six or $700 a share stock and I'm thinking for a burrito company, this is insane. And he ended up buying I think a thousand shares that day of that stock bought options.

Adam Carroll (19m 3s):

I think he was, he was probably selling puts at the time to, to get the, the stock at a certain price. But today, Chipotle's trading at $1,400 a share. Those are the kinds of lessons that I've gleaned over time that when I see a stock go towards its 52 week low or below, its 52 week low, we'll go grab a number of shares, a hundred shares at a time, and I like to buy Disney and, and Coca-Cola and w r Berkeley Insurance, you know, some of these really stable, you know, cash flow producing intensive companies. And then the other thing I'm looking for are, and this is sort of a third element, is when I invest, can I get some sort of tax benefit out of the investment?

Adam Carroll (19m 47s):

So there's a number of syndications that we've participated in and the the real estate syndications might look like putting in a hundred thousand dollars and owning a small piece of a 350 unit apartment complex as an example. And in doing that, if we put in a hundred thousand, we might get $90,000 in bonus depreciation, which is money off of our income that year that we don't have to pay taxes on. And then furthermore, you'll get a monthly or quarterly return and then there'll likely be a, an exit within three or four years that will give you like a 1.7, 1.8 return on your investment.

Adam Carroll (20m 27s):

So those are the kinds of things today we're looking for great opportunities that maybe not everyone can participate in, but that, you know, when you set yourself up the way folks who use the shred method do, you can participate in these investments that have a little bit higher than average return.

Phil (20m 43s):

So tell us a bit more about the shred method then.

Adam Carroll (20m 45s):

So the shred method is as much a mindset, Phil as it is anything. And the, the biggest hurdle to get over in terms of the mindset is that most people want to have a surplus in their checking account and they'll keep as much of that in their checking account as possible. But over time it dwindles. We use our debit card and we buy groceries and gas and haircuts and clothing and all of that. And then lo and behold, two weeks later we get paid again and it replenishes our account. While using the shred method, we actually want to keep our checking account balanced down as low as possible. You know, for some clients that might mean $200, it might be $500, but it's always gonna be in that range.

Adam Carroll (21m 30s):

We never want more than that because if there's more than that, one of two things are gonna happen. Number one, we're gonna spend it, or number two, it's gonna sit there and the bank is gonna take full use of it while we're paying interest somewhere else. So the advantage of shred is the money that would normally go into checking, it's instead deposited into your shred account, which could be a line of credit or it could be a special savings account. And then out of that account we dump the majority of that against a compound interest debt. That could be your mortgage, a car loan, student loan, et cetera. And by doing this over a sh could be a short period of time, it could be 12 to 18, 24 months, you'll see a massive reduction in your debt load, a massive increase in the amount of income that is actually going to build your wealth.

Adam Carroll (22m 19s):

And more and more of your payment is going towards principle every single month. It's a win three times over. And most people will say, yeah, but shouldn't I be doing X, Y, or Z putting money in the market, you know, doing something else, my money, taking a vacation, what have you. We maintain that you're actually better off, you know, 24 months in or 18 months in, 12 months in by using this strategy and then start doing what you've been told to do all along. It doesn't take forever, but I truly believe that if you do for two years, what most people won't do, you can do for the rest of your life what most people can't do.

Phil (22m 58s):

So a a a major part of this is the HELOC account. What what is a HELOC account?

Adam Carroll (23m 3s):

So consider it almost like a, it's almost like a credit card that is attached to the equity of your home. So if you've put 10% down or 20% down on your property when you bought it, or maybe you've been in the home for a while and it's appreciated in value and you have plenty of equity, you should be able to go to a lender and get a home equity line of credit against the equity in your home because it's tied to a tangible asset. The interest rates will be about market rate, maybe a little bit less. We're seeing HELOC rates at the four and a half to 6% range. But, but this is the real key to this, Phil.

Adam Carroll (23m 43s):

It doesn't have to be a huge HELOC. You could have a a five to $10,000 HELOC and money is flowing in and out of it Right. On a monthly or biweekly basis. So the amount of interest you pay is negligible, but it's being leveraged against this large, large compound interest debt amortized over 30 years. And the i the impact is you're gonna take a 30 year fixed mortgage down to summer between three and seven years depending on your discretionary income.

Phil (24m 15s):

That sounds unbelievable.

Adam Carroll (24m 17s):

It does. And, and people go, where's the magic in this or what it sounds like magic. And we always come back with, it's not magic, it's math. This is how banks make their money. And because they go unchecked and unchallenged and we just do what society has told us to do, we're left paying for 30 years what we could be done in three to seven.

Phil (24m 37s):

Wow. Is it difficult to have that conversation with the bank about setting up this kind of account? That's

Adam Carroll (24m 42s):

A great question. I I never recommend.

Phil (24m 46s):

I can tell you're not prepared for it. I

Adam Carroll (24m 48s):

Love that. Well, I I never recommend going into a bank and saying, you know, hey, I'd like a HELOC and the reason is I'm going to leverage this loan against this other loan that you're carrying. Is it hard to have the conversation? Not really, because it is a, it's a traditional product that most banks will offer. The only difference is that most banks are offering it as a product that someone's gonna use to go buy a boat or do a home renovation project with. And that typically is how most people look at their HELOCs. It's just like, well it's an extra $10,000, I'm gonna redo the bathroom as opposed to it's $10,000 and it's a tool that I'm gonna use to cash flow manage and leverage and deploy against this longer term debt, thereby creating financial arbitrage and massive amounts of savings.

Adam Carroll (25m 39s):

We're just not taught to do that. So, you know, what I often tell people is when you go into request one of these accounts and they say, what is it for? Simply tell them I'm doing some home reno and that's it. That's

Phil (25m 54s):

What the banker wants to hear,

Adam Carroll (25m 55s):

Isn't it? They don't need to. Yeah, they don't need to know more than that. What they wanna know is you're not investing in cryptocurrency with it. That's all they want to know. Right.

Phil (26m 3s):

So if you could just describe in simple terms, again, about the HELOC account for someone who, you know, might be a bit of a, a new concept for them.

Adam Carroll (26m 11s):

So one of the ways that I described this in kind of a metaphorical term is a, a HELOC is like a two-way street. Money goes in and money comes out, money goes in, money comes out. Whereas a mortgage or a car loan or a student loan is a one-way street. Money goes in, but it doesn't come back out again. And if you think about a mortgage, there's only two times that money will come out of a mortgage that you've put in. You either sell the property or you do a cash out refinance. Those are the only, only two ways to get money out. So what we've found, Phil, is that a number of homeowners out there have equity that's locked in their home.

Adam Carroll (26m 53s):

That could be used for other purposes. It could be used for university tuition, it could be used to fund a vehicle purchase, it could be used to buy life insurance, could be used for a number of things, but it's locked in their mortgage and they really need the HELOC to be able to unlock the money that's, that's trapped in their home equity. So I always like to think of it as a two-way street. Money goes in and money comes out and it's freely flowing back and forth.

Phil (27m 21s):

And so the interest that's generated by the HELOC account is deducted from the interest that's paid on the major mortgage. Is that the case?

Adam Carroll (27m 31s):

That's exactly right. That's exactly right. A and furthermore, the HELOC interest is typically simple interest or it's, it's calculated on the average daily balance. So the mortgage balance may go up and down throughout the month, but over the course of 30 days it may stay relatively low because through the shred method and the software that powers the shred method, the system will say, Hey, send a big lump sum payment to your mortgage knowing that two days later you're at, you have a paycheck coming in and it's gonna pay it back down close to zero. So over the course of the next two weeks, maybe we spend a little bit over time on the heloc, we send a big lump sum payment and then it drops back down close to zero.

Adam Carroll (28m 16s):

So we, we may have borrowed on a $10,000 HELOC, the average daily balance may be $2,500 as an example, and 5% interest rate on $2,500 would be what $125 divided by 12 months would be basically $10 a month that you're paying an interest on that borrowed money. Though you may have accelerated your amortization table by, you know, anywhere from six to 15 payments in that month's time.

Phil (28m 47s):

And what's HeLOCK stand for again?

Adam Carroll (28m 49s):

Home equity line of credit.

Phil (28m 51s):

Fantastic. So tell listeners how they can find out a little bit more about the shred method and, and your work.

Adam Carroll (28m 57s):

Well, yeah, I appreciate that Phil. People can find me@theshredmethod.com where we have a, an evergreen webinar. You can go and, and see the mathematics behind how this works, see the process, understand intently why we do what we do and how we do it. You can find me on Instagram. I am at Adam.Carroll, two Rs, two Ls, not to be mistaken for the singer songwriter out of Austin, Texas, who is very talented or the Irish F1 formula race car driver who sometimes I secretly wish I was,

Phil (29m 34s):

Is there an F1 driver called Adam?

Adam Carroll (29m 36s):

There Is. There is. Oh, I'm

Phil (29m 38s):

Out of Ireland. I'm an f I am an F1 fan, but I have never heard of Adam Carroll.

Adam Carroll (29m 42s):

Yeah, yeah. I I have this great idea, Phil, maybe you can help me do this. Okay. I, I wanted gotta

Phil (29m 48s):

Get how to drive one of them.

Adam Carroll (29m 49s):

Well that, and I wanted to build a TV show called You Don't Know Me from Adam and all I would do is go around and live life as other Adam Carroll's all around the world. That'd be pretty amazing.

Phil (30m 0s):

Oh, you, as long as you are the first Adam, then.

Adam Carroll (30m 4s):

That's right. That's exactly right.

Phil (30m 6s):

Well look, we'll put, we'll put a link into the blog post to that webinar because that would be great to watch. I'm definitely gonna have a watch of it as well, cuz I've got a mortgage still that I need to pay off. So I'm very, very interested.

Adam Carroll (30m 17s):

It's, it's exceptionally eye-opening when people go in and, and again, even a year, Phil, like 12 months, 18 months of using the strategy can make a market difference on the payoff of a mortgage. So if you're looking at it saying, oh geez, I have 20 years left, or 25 or 28 years left. Using this strategy even for a short amount of time, can make a massive difference in the length of your payoff and the amount of interest you save. So excited to have you take a look.

Phil (30m 46s):

Adam Carroll, thank you very much for joining me today,

Adam Carroll (30m 49s):

Phil. Thanks for having me.

Phil (30m 51s):

If you found this podcast helpful, please tell a friend, especially if it's someone who needs to start thinking about investing for their future, you'll be helping them and helping me to keep this show on the road.

Chloe (31m 1s):

Stocks for Beginners is for information and educational purposes only. It isn't financial advice and you shouldn't buy or sell any investments based on what you've heard here, any opinion or commentary, the view of the speaker Only Not Stocks for beginners. This podcast doesn't replace professional advice regarding your personal financial needs, circumstances, or current situation.

Phil (31m 20s):

And thank you for listening to my podcast.

Stocks for Beginners is for information and educational purposes only. It isn’t financial advice, and you shouldn’t buy or sell any investments based on what you’ve heard here. Any opinion or commentary is the view of the speaker only not Stocks for Beginners. This podcast doesn’t replace professional advice regarding your personal financial needs, circumstances or current situation.