Broker Check
Achieving Financial Freedom: Insights from the Debt Free 4 Life and Shred Method Programs

Achieving Financial Freedom: Insights from the Debt Free 4 Life and Shred Method Programs

March 26, 2024

For millions of Americans, financial freedom can seem out of reach due to burden of mortgage payments, student loans, and other debts. Greg DuPont recently interviewed two debt elimination professionals on his podcast, Your Financial Advocate. Tracey Spikes of SMART Advisor Network and Adam Carroll of The Shred Method shine light on innovative strategies that promise to guide individuals towards not just freedom from debt but a secure financial future.

Understanding the True Cost of Debt

Most consumers pay their minimum monthly payments every month on their mortgage, car, student loan, etc., What most people people don't realize is how much interest they're paying on that debt every month. For example, you may think a 4% APR on a mortgage is amazing, but have you ever stopped to calculate how much of that monthly payment is going towards interest? If you're in the early years of your mortgage, it's a lot more than 4%.

Due to the bank's amortization schedules, APR rarely reflects what you actually pay. In fact, only in the 29th year of a 30 year mortgage does the amount of money you pay towards interest actually equal the APR! Delving into effective interest cost reveals the insidious nature of debt and its long-lasting impact on financial health.

Becoming Debt Free 4 Life

Tracey Spikes, Sr. Executive Distribution and Development Officer of the SMART Advisor Network, has not only walked the path to becoming debt-free but was also the first client to achieve it using the method discussed. Without the program, he was projected to remain in debt for another 22 years! By following the Debt Free 4 Life program, Tracey eliminated ALL of his debt, including his mortgage, in 6 and a half years. His transparency in sharing his personal story underscores the relatability and attainability of the program.

A Tailored Path to Becoming Debt-Free

The Debt Free for Life program is differentiated by its adaptability, offering tailored strategies according to individual budgets and circumstances. Even if you only have $50 to put towards the program every month, it can still prove effective.

This flexibility extends to how the program can be adjusted in the face of unexpected life events, ensuring that your path to debt freedom is not derailed by the unpredictable nature of life. For example, if you lose your job, you may use the funds in your Debt Free 4 Life account to help you get by.

How the Debt Free 4 Life Program Works

Debt Free 4 Life is a process that involves restructuring your bill payments and savings strategy without negatively impacting your lifestyle. You’ll never pay us a fee for any part of the Debt Free 4 Life Process, and no additional money is required out of pocket.

The plan is built around a very special type of life insurance policy. What exactly are you getting for the insurance premium? Well, you get a plan that will self-complete if you pass away, a permanent life insurance amount, and a growing tax-free savings that you can use for the rest of your life.

Isn’t that better than giving your money away to lending institutions?

Just go to SmartAdvisorColumbus.com to get started.

'Shredding' Your Mortgage with The Shred Method

Adam Carroll, founder of The Shred Method, helps his clients eliminate their mortgages, with most becoming completely debt free in just 3 to 7 years.

The core principle of the Shred Method revolves around efficient management of cash flow. The strategy demands discipline and a detailed scrutiny of how discretionary income is allocated—especially when considering mortgages and long-term debts.

The Shred Method software, coupled with a Home Equity Line of Credit (HELOC), can help you have funds accessible for the fun things in life, all the while you’re blasting away debt and building wealth.

How to Use a HELOC to Pay Off Your Mortgage Fast

A HELOC is a debt instrument that is tied to the equity of your home. Unlike a mortgage that is a long-term compound interest vehicle, your HELOC is a short-term, simple interest vehicle.

When you use a HELOC effectively, it functions just like a checking account. Money is deposited into the HELOC when you’re paid, and bills are taken out when they’re due. However, because a HELOC can never go above zero (meaning it can’t have a positive balance), if your income is greater than the balance, it has to go somewhere else… in this case, towards paying off compound interest debts… like your mortgage.

In the process of knocking out debts, you’ll begin doing a number of things.

  • You free up more discretionary income each month because you no longer have payments due on certain debts.
  • Your income grows more and more efficient with every payment you make. In essence, you own more of your income.
  • As you decrease your mortgage balance, the amount of equity you have grows month after month.
  • With every advanced payment you make to the mortgage, you eliminate massive amounts of interest, freeing that money to actually build real wealth!

The Shred My Mortgage software alerts you when income is coming in, when payments go out, and what to do specifically with whatever is left. It’s based on complex algorithms that expert coders and mathematicians devised to make sure that you are paying the least amount of interest on all fronts.

The difference between what you will accumulate using Shred versus the conventional route is typically a 7, and sometimes 8-figure difference.

If you're interested in shredding your mortgage, give us a call at 614-408-0004.

The Right Candidate for Success

While both the Shred Method and the Debt Free 4 Life method have the potential to enact substantial financial change, they aren't for everyone. These programs are particularly beneficial for those who are financially disciplined and have a reliable income stream. Parents with young children or individuals with substantial student loan debt can find profound value in these strategies.

These programs may not be suitable for those facing bankruptcy or those with substantial unsecured consumer debt.

These methods encourage intentional action into effective financial planning tactics, which are essential for anyone yearning to demolish the chains of debt and stride confidently towards a flourishing financial future.

Listen to the full podcast episodes with Tracey Spikes and Adam Carroll here: https://yourfinancialadvocate.blubrry.net/