Strategic Financial Tools Maximize Wealth
Linda was considering buying down her mortgage rate with points but wasn't sure if the upfront cost would be justified, especially with her anticipated partnership buyout income. She also needed to factor in her blended family's estate planning needs, adding complexity to her long-term financial outlook.
Using Golden Door Asset's Mortgage Points Calculator, Linda analyzed the break-even point for buying down her mortgage. The calculator revealed that purchasing 2 points for $8,000 would save her $37,000 in interest over the life of the loan, breaking even in just over 2 years, well before her planned retirement. We also used the Tax Equivalent Yield Calculator to compare the after-tax yield of different investment options for her deferred compensation, optimizing her portfolio.
The Mortgage Points Calculator allowed a side-by-side comparison of scenarios with and without points, factoring in loan amount, interest rate, and loan term. The Tax Equivalent Yield Calculator required inputting the pre-tax yield, tax rate, and state tax rate.
$37,000 in interest savings on her mortgage and increased after-tax returns on deferred compensation.
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