REALTORS® can create and build their wealth by approaching finances from the perspective of the lender instead of the borrower and by incorporating some of the techniques used by the banking industry, says John Jamieson, author, real estate agent and industry trainer.
Banks build wealth through volume and velocity – or the amount of loans or transactions they do and the speed with which they do them, Jamieson told Illinois REALTORS® gathered in Collinsville on Wednesday for the Illinois Association of REALTORS® Conference & Expo.
In his session, Jamieson offered a few ideas for making the most of your money including:
- Many people rush to refinance property when interest rates are low, but he said that if you don’t have a specific plan for the money you’ll save in monthly payments, you’ll just end up spending it somewhere else instead of paying down debt. Only refinance if it makes sense.
- Build your retirement nest egg by using your investments to create a private pension system with fixed indexed annuities, self-directed IRAs and by taking advantage of whole life insurance investments.
- You can learn more about Jamieson and his programs at www.realestateagentsbuildwealth.com
Jamieson is the author of the the books, “Perpetual Wealth System” and “Wealth Without Stocks or Mutual Funds.”