This article looks at several strategies that when used in combination with your clients advice will allow their debt to work more effectively and help them achieve their financial independence earlier than planned.
Accessing equity
If the value of a clients property has increased then refinancing can unlock this equity to access funds for a deposit on an investment property, for personal investments in a business or in stocks and shares as a part of their wealth creation strategy, to renovate their home, to upgrade the family car or for other purposes such as to assist with childrens education.
The various debt purposes can be isolated in separate splits within the one home loan package. This allows better management of tax-deductibl…
Read the full article at: https://www.ifa.com.au/opinion/29935-making-debt-work-for-your-clients