Financial Freedom Loans

This is a two edged sword. Financial freedom loans is a term and a practice that is telling you to sacrifice your future income for today. But does it really work out for the borrower – namely you?

Think about this carefully. In fact, do the math and get anyone that is making any such claims to help you to prove it on paper – or calculator.

Where it may actually be helpful to your lifestyle is that a loan against an equity rich asset such as an investment property can let you yield some operating cash to maintain your lifestyle for the next several years. Of course, some people may actually have enough assets that will allow them to borrow against to maintain them for decades! They come in a number of names like reverse mortgages. It’s good to learn about them first.

But beware the pitfalls! You can easily outlive the money they offer you in exchange for your assets like your home and you may actually live there without owning it at all. Of course, there are insurance that may cover some of the shortfall, but not your lifestyle.

Thus financial freedom loans is useful only when cash is short and you are sufficiently asset rich, but study it well as your lifestyle and well being may well depend upon it – literally.

Avoiding such a situation may also be possible in other scenarios like the following suggestions.

If you so happen to have a trustworthy heir that has significant cash on hand who can actually “buy” your property while you still live in it. Remember, real estate is a long term apreciating asset. The cash purchase will pay for itself many years later. This is like the reverse mortgage, but your heir benefits.

For cash to be converted into retirement investments, you may have other assets and investments that may be sufficient to offer you that lifestyle. It is also worthwhile to protect, minimize and sometimes eliminate your taxes so that you can have more disposable income.

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Financial Freedom Bank

Financial Freedom Bank

Is there such a thing as a Financial Freedom Bank? Well, there is, sort of.

Let me explain.

You see, there is no such official banking function. But Banks in the right locations in some tax haven countries do have banks that will function just as the words suggest.

It is people in need of or simply looking for such a place to do their banking have used this term to search for them as a description. But lo and behold, they appeared!

But first, let me explain why confusion exists.

You see, there are people who literally search for such banks thinking they will be located in an ossfhore location. The exist but are found under other categories like offshore banking. However, because of extremely agressive marketing by loan or mortgage brokers and banks, financial freedom bank also came to be categorized with bank loans and mortgages. Often you will find lenders touting “Financial Freedom Loans” or “Freedom Mortages” simply to catch your imagination.

I’ve explained and talked at length about being careful of the offshore banks you choose. Forget the fancy terms and declarations of being Internationally liscensed. You will simply need to research them carefully. Test their services, ask users about their quality, etc. Remember to inquire about their ease of use, availability of funds on demand, currency use/exchange services, cash transfers internationally, privacy, etc.

In short, can this bank you are researching do all that you want without hassle. Is it a large enough bank that it is a “stand-alone” institution? Then and only then can you be sure of having this much sought after financial freedom bank.

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