The Power of Compounding
Last year and at the start of this year there were a lot of changes in the mortgage industry. New rules, new regulations and so on. It is taking a lot of people by surprise. I know cause of the calls coming into me this week for people were wanting to be pre-approved to buy a new Indiana house and they have no money down and no one to give them a gift of down payment of 3.5% of the purchase price.
Two of them told me that were waiting for tax refunds or big bonus checks. Which in it’s self is fine, but what about rainy day issues. We thank God that we have a rainy day account and everyone should. I want to thank Missy Caullk for giving me this idea for NW Indiana Home buyers and if you are ever in need of moving to Ann arbor and be near the Wolverines give Missy a call.
Einstein, I have heard once said, “the most powerful force in the universe is compound interest”, and he is right. Your money in the right form will grow for you over time and every day it will grow more. Take a look at this graph and what two thousand dollars will do for a 19 year old.
Just think if you started at the birth of a child and when they are out of college the gift of a down payment could the best think you ever did for them. Or, now as an adult, you can go after certain investment vehicles that will allow you to grow your money pretty quickly. (I am not an investment advisor and I do not play on TV) If you would a referral for an Indiana Financial Advisor please let me know and I can certainly help you with that.
But watch this quick movie from CustomCraft it is a great learning tool to save money.
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