Offensive and Defensive Financial Planning … And Where Your Mortgage Fits In

financial-planning-mortgage-advice-meetingHave you ever sat down with a financial planner? Boomers nearing retirement often jump at the opportunity, but many 20 and 30-year-olds may not have experienced the magic yet. Especially if you’re serving in the military.

What magic you say?

A financial planner doesn’t just sit down and dream with you… although looking up at the ceiling to picture yourself sailing on a yacht around the Caribbean is a fun moment. A financial planner also helps you know how to achieve your short-term and long-term financial goals.

They often go through something called the defensive and the offensive strategies.

Defensive Financial Planning

Many who look at defensive financial planning go for things like life insurance. Disability products. Long-term care. Things that ensure your family will be protected in the event something happens to you.

Offensive Financial Planning

Offensive planning isn’t as reactive – it takes your current situation and plans for growth. Offensive financial planning can involve strategies like building up emergency funds, opening retirement plans, investing in mutual funds and yes, even reviewing your mortgage!

Financial Planning and Mortgage

While you might think that financial planning and mortgage planning are two separate things – they actually go hand-in-hand. A financial planner will evaluate your “state of the household” and gather information like income, debts, mortgage payment and current rate.

Suggestions on how to save, invest more and pay less may come to the table. Mortgage included.

A planner might recognize that your mortgage rate is high and suggest trying to refinance. Or, if you’re eligible for a loan program like the VA loan, a planner can guide you to knowing how to take the steps to secure your benefits.

If you’re sitting down with a financial planner, make sure to review your mortgage and call our team if you need a second opinion, mortgage advice or would like to apply for a loan or refinance your house.

We love working with clients coming from financial planners. We know what you need and are ready to assist you.

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