The Borrow Smart Conversation

In this conversation, we look at the power of a trained CLA (Certified Liability Advisor) working with SORA Financial to power AI centered leads, debt optimization and more.

Understanding consumer behavior and decision making - is about 20% the impact to cash now, 60% the impact to cash flow now and over time, and 20% the future wealth impact.

This text is a transcript of a presentation by Todd Ballenger, a loan officer coach, outlining his "FAST System" for loan officers to improve their businesses. The system details five stages of growth, emphasizing the importance of building relationships with financial advisors as referral sources. Ballenger provides specific strategies for contacting, engaging, and partnering with financial advisors, including scripts for initial contact and methods for generating referrals. He also promotes his coaching program, "Borrow Smart University," which offers further support and resources for implementing the FAST System. The core message is to diversify referral networks beyond realtors to achieve greater success and leverage.

This text is a transcript of a presentation by Todd Ballenger, a loan officer coach, outlining his "FAST System" for loan officers to improve their businesses. The system details five stages of growth, emphasizing the importance of building relationships with financial advisors as referral sources. Ballenger provides specific strategies for contacting, engaging, and partnering with financial advisors, including scripts for initial contact and methods for generating referrals. He also promotes his coaching program, "Borrow Smart University," which offers further support and resources for implementing the FAST System. The core message is to diversify referral networks beyond realtors to achieve greater success and leverage.keepSave to notecopy_alldocsAdd noteaudio_magic_eraserAudio OverviewschoolBriefing doc

This excerpt from Borrow Smart Repay Smart  by Todd Ballenger presents a comprehensive strategy for managing personal finances, particularly concerning homeownership. The text emphasizes viewing a house as a long-term investment, analyzing it through the lenses of safety, liquidity, and return. It introduces a seven-step process for smart borrowing decisions, considering factors like loan products, payment types, and available credit. Furthermore, the book stresses the importance of financial discipline, diversification, and leveraging home equity for wealth building while also examining the tax implications of homeownership. Finally, it encourages readers to create a financial team to support their long-term goals.

So much going on in the world that's exciting, keep your aperture wide open! This blog post from the Rational Optimist Society argues that America's innovation stagnated after 1973 due to the oil crisis and a shift away from energy-intensive industries, contrasting the manufacturing giants of the past with today's tech companies. The author contends that 2024 marks a turning point, with renewed investment in manufacturing and abundant energy sources, leading to a resurgence in American innovation and prosperity. Furthermore, the post highlights the transformative potential of advanced AI, exemplified by OpenAI's o3 model, predicting a future where AI significantly enhances human capabilities and productivity. The author encourages readers to embrace these technological advancements to participate in this new era of growth. Finally, the post promotes the Rational Optimist Society and its resources.

Logan Mohtashami, in a recent podcast, discusses the economic impact of a new president's executive orders on the housing market. Key focuses include the effects of potential tariffs on bond markets and mortgage rates, and the implications of an executive order aiming for emergency price relief in housing through deregulation. The speakers also consider the impact of immigration policies on the construction workforce and the overall economy. Ultimately, the discussion centers on the relationship between the 10-year Treasury yield, mortgage rates, and housing market activity, with the speakers emphasizing the significance of these economic indicators over political considerations. The speakers conclude that lower mortgage rates are the most effective way to improve housing affordability in the short term.

The document is a detailed financial report, specifically the Z.1 report from December 12, 2024, which analyzes U.S. domestic nonfinancial debt and household net worth. It presents data on various sectors, including households, businesses, and governments, and covers a range of financial instruments and assets. The report also includes extensive explanatory notes clarifying data sources, methodologies, and revisions. Finally, the data integrates macroeconomic accounts from the Bureau of Economic Analysis (BEA) with financial account data from the Federal Reserve Board. https://www.federalreserve.gov/releases/z1/

These articles from the Rational Optimist Society discuss the resurgence of innovation and the need for deregulation. One article highlights excessive regulations hindering progress in housing, energy, and healthcare, advocating for a reduction in bureaucracy to stimulate growth. Another piece champions the University of Austin as a model for higher education, prioritizing free speech and entrepreneurship. A third article showcases technological advancements, such as machines creating fuel from air and AI-driven drug discovery, as solutions to climate change and healthcare challenges. Finally, a fourth article argues that a period of innovation famine is ending, with AI and other breakthroughs signaling a new era of progress.

J.P. Morgan Asset Management analyzed anonymized data from over 280,000 Chase households to reveal three key retirement spending surprises: a declining lifetime spending curve peaking at midlife, a post-retirement spending surge particularly impacting lower-income, partially retired households, and significant year-to-year spending volatility throughout retirement. These findings highlight the need for financial planning that accounts for these dynamic spending patterns, especially concerning the increased risk of sequence-of-return issues and the importance of flexible retirement income options. The research emphasizes the non-uniform nature of retirement, with many households experiencing a phased retirement process. Ultimately, the study advises plan sponsors to adapt their strategies to accommodate more variable spending behaviors among retirees.

What role will housing play in the Transamerica Center for Retirement Studies and Transamerica Institute released their 24th annual retirement survey report, examining the lives of retired Americans in the post-pandemic economy. The report's key findings detail retirees' experiences across various aspects of life, including their financial situations, health and well-being, and housing arrangements. The study also explores retirees' retirement planning, longevity planning, and their perspectives on future-proofing retirement for upcoming generations. Recommendations are provided for both retirees and policymakers to improve retirement security and outcomes.

I'm a big fan of dividend stocks for mortgage professionals to balance income. This excerpt from Kelly Green's "Dividend Digest" argues that dividend stocks are a superior investment, historically outperforming non-dividend stocks and offering stability. The text highlights the potential shift of $6.3 trillion from money market funds to dividend stocks due to falling interest rates. It emphasizes the benefits of dividend growth and reinvestment for wealth building, promoting strategies focusing on "Dividend Aristocrats" and "Dividend Kings." The piece concludes by advocating for a dividend-focused investment approach, particularly during times of economic uncertainty and shifting interest rates. Specific examples and historical data are provided to support these claims.

Harley Bassman’s Convexity Maven publication is a commentary on the bond market and macroeconomics, particularly focusing on the relationship between interest rate options and the 2024 US Presidential Election. The author analyzes the MOVE Index, a measure of implied volatility in the bond market, and how its recent jump signifies a significant level of uncertainty surrounding the election outcome. Bassman draws parallels to past events like the 1991 Gulf War to illustrate similar market behavior during times of "known unknowns," where the risk is clear but the result is uncertain. He concludes by suggesting that despite the elevated volatility, the market is on a path back to normalcy, though the author cautions investors to remain aware of potential risks and consider appropriate strategies.

"The Secret Power Within Your Mortgage" is a book by Daniel Amerman that argues that mortgages are an overlooked tool for managing financial risk, particularly in times of inflation. Amerman asserts that mortgages can act as a hedge, similar to how a business might hedge against market risks by investing in multiple assets with opposing risk profiles. The book explores the historical performance of mortgages during periods of high inflation, using case studies and illustrative scenarios to show how mortgages can generate substantial gains for homeowners during times of economic turmoil. Amerman also addresses potential concerns about affordability and speculation, highlighting the importance of carefully considering personal income, savings, and risk tolerance when employing a mortgage hedge strategy. The book concludes with a discussion of "Reality Hedges," a more sophisticated mortgage hedge strategy that involves investing in rental properties to generate consistent cash flow and further enhance protection against inflation.

The sources from the Rational Optimist Society highlight the importance of optimism in facing a changing world. The first source focuses on the potential of technology to solve real-world problems, using the example of XRAI glasses, which can help deaf people understand conversations in real-time. The second source celebrates the founding of the University of Austin, a new university focused on free speech and meritocracy, and encourages readers to embrace a mindset of optimism. The third source argues that while the world is generally improving, communism can have devastating consequences, as seen in Venezuela.

The first source explores the connection between financial wellness and emotional well-being. It highlights the negative impact of financial concerns on mental health, citing statistics on debt, stress, and the prevalence of mental health issues among those experiencing financial hardship. The second source investigates the need for financial guidance in the United States, noting that many Americans, especially younger generations, struggle to find trusted professionals to help them manage their finances. Both sources emphasize the importance of seeking professional financial guidance, offering examples of reputable organizations and resources that can provide support and guidance.

The two reports provide information on the state of financial literacy education across the United States. The Consumer Financial Protection Bureau (CFPB) report outlines its own efforts to increase financial literacy in the United States through consumer education, and provides five core principles for effective financial education. The Council for Economic Education report details the progress in mandating high school personal finance courses across the United States, and provides data on how many states have included economics in their high school curriculum.

The National Institute of Financial Education (NIFE) is a non-profit organization dedicated to educating consumers about the financial implications of homeownership. NIFE offers free educational resources through its Certified Liability Advisors (CLAs), who are financial professionals that have undergone a rigorous training program. CLAs assist borrowers in making informed decisions about homeownership by providing guidance on managing risk, choosing the right payment plan, and developing strategies for protecting their investments. NIFE’s mission is to promote financial literacy and provide individuals with the tools they need to make sound financial decisions.

The sources provide detailed advice on how to grow your presence on Twitter and LinkedIn, beginning with selecting a niche and optimizing your profiles. The sources then explain how to build an engaged following by following and interacting with accounts in your niche, consistently posting valuable content, and participating in engagement groups. The sources offer actionable tips and use AI tools like Tugan.ai to generate content ideas and automate some tasks, emphasizing that success on these platforms requires dedication, consistency, and continuous learning.

The provided sources offer a comprehensive guide to creating and implementing effective marketing funnels. They cover various aspects of building a profitable business, including defining your ideal customer, crafting a compelling message, developing a product roadmap, and establishing a lead generation system. The sources provide numerous frameworks and tools to guide entrepreneurs in building a successful funnel, including a currency calculator to determine the value your product delivers, a million dollar message template to communicate your message effectively, and a product roadmap to visualize the steps customers need to take to achieve their goals. The sources also detail specific funnel models, like the liquid funnel, the webinar funnel, and the launch funnel, and explain how to leverage retargeting strategies to reach your target market. They also emphasize the importance of using social proof, building authority, and creating valuable content to convert leads into paying customers.

The sources discuss the significance of financial literacy in the workplace. They highlight the widespread financial illiteracy among individuals, the resulting financial stress, and the negative impacts on productivity and well-being. The sources argue for the implementation of workplace financial literacy programs to empower employees with the skills to manage their finances effectively. They emphasize the importance of addressing financial literacy through various initiatives, including workshops, financial wellness programs, and integrating financial literacy into training programs. The sources also explore the benefits for both employees and employers of promoting financial literacy in the workplace, including increased employee engagement, improved decision-making, and enhanced productivity.

This is about 10 investments books combined. "The Best of Compounding Quality" by the author "Quality Compounding." The e-book provides an in-depth analysis of quality investing, focusing on how to find and invest in companies with strong, sustainable competitive advantages. The author explores key concepts such as compounding, valuation, free cash flow, and return on invested capital. He also provides specific strategies for identifying high-quality companies and analyzes the investment philosophies of prominent investors like Warren Buffett, Charlie Munger, Joel Greenblatt, and Terry Smith. The e-book aims to equip readers with the knowledge and tools to make informed investment decisions and achieve long-term success in the market.

As a liability advisor, you want to learn more about the depth of financial plumbing, locally, nationally and globabally. This EY Global Wealth Management Industry Report is a comprehensive analysis of the wealth management industry, focusing on the challenges firms face and the strategies they can implement to achieve long-term success. The report explores the evolving landscape of the industry, outlining key trends such as increasing client expectations for personalization, technological advancements, and the growing importance of intergenerational wealth transfer. It then identifies ten critical underlying challenges that wealth managers must address, ranging from building future-proof technology infrastructure to redesigning risk management and compliance functions. The report concludes by presenting twenty key concepts for execution, offering practical, proven approaches that firms can leverage to overcome these challenges and ultimately achieve sustainable competitive advantage. learn more

This excerpt from The Secret Guide To Understanding Credit by Todd Ballenger outlines the intricacies of the credit reporting industry and the significance of credit scores in real estate and lending. It explains how credit history is compiled and interpreted by lenders, emphasizing the role of credit bureaus and credit rating providers such as Experian, Equifax, and Transunion. The document also delves into various types of credit reports, the scoring model used to assess credit risk, and the impact of specific credit-related events, such as late payments, collections, and bankruptcy, on a borrower's credit score and ability to obtain loans. If you'd like a copy, reach out to any Certified Liability Advisor.

This report, "How Financial Planners Actually Market Their Services," is a comprehensive marketing study conducted by Kitces Research that examines how financial planners market their services and what tactics are most effective. The report analyzes data from nearly 1,000 advisory practices, including their expenditures, acquisition costs, and the success rates of various marketing strategies. It also compares the marketing practices of high-growth practices to those of their peers, revealing common themes and trends for achieving sustainable growth. The report offers valuable insights for financial planners seeking to improve their marketing efforts, including detailed analysis of the effectiveness of common tactics like client referrals, social media, and content marketing.

This report from Apollo Global Management analyzes the current state and future outlook of the U.S. housing market. It highlights factors like low housing supply, high mortgage rates, and rising unemployment that are impacting housing demand. The report also examines housing supply, including new home construction and existing home inventory. Additionally, it explores house price trends and discusses how affordability issues could impact future market activity. The report concludes by comparing the current housing slowdown to previous market downturns.

What IS Enough? is a coaching session guide for an educational course focused on personal financial management. It explains the concept of “enough” in personal finance and how to achieve financial independence through mindful spending and awareness of life energy. The workbook uses examples, exercises, and questions to guide participants in their journey to financial well-being. It is based on the principles of Your Money or Your Life by Joe Dominguez and Vicki Robin. Learn more at www.niofe.org

This excerpt from the book "Borrow Smart: A 7-Step Process For Managing The Wealth In Your House" by Todd K. Ballenger emphasizes the importance of understanding and managing borrowing strategies related to homeownership. The book aims to guide readers on how to maximize the financial benefits of home equity while avoiding common pitfalls that can diminish wealth. Ballenger asserts that managing liabilities is crucial for financial success and that neglecting this aspect can hinder overall wealth building. The book explores various strategies, such as protecting equity, minimizing taxes, and understanding the impact of borrowing on net worth, to help readers navigate the complexities of homeownership and ultimately achieve financial security.

This text presents a debate between two financial advisors, Ric Edelman and Todd Ballenger, regarding the benefits of carrying a large, long-term mortgage. Ballenger argues that Edelman’s 11 reasons for doing so are outdated and misleading, particularly regarding tax deductions, equity growth, and the value of early investment. Ballenger advocates for a more nuanced approach to financial management, considering the individual’s financial situation and future needs. Ultimately, both advisors agree that the best strategy depends on the specific circumstances of the individual.

In this small coaching session we talk about working with advisors, listen in and see if you can pick up on key phrases to use, and strategies.

I took several of my favorite investing books and mashed them together with prompts to extract the key guidance that are consistent across all 4 books. The first source, "Your 5-minute guide to hedging," discusses hedging as a strategy for minimizing risk in volatile markets. The author, Keith Fitz-Gerald, argues that traditional hedging strategies like diversification and fixed income are no longer effective in today's highly computerized markets. Instead, he advocates for inverse funds and other hedging tools that perform opposite to the indices they track. The second source, "Elliott-Wave-Cheat," focuses on Elliott Wave theory, a technical analysis method that predicts market movements based on recurring patterns called waves. It provides specific guidelines and probability estimates for the length and retracement of these waves using Fibonacci numbers. The third source, "Master the Markets," introduces a proprietary trading methodology called Volume Spread Analysis (VSA). This method analyzes the relationship between price, spread, and volume to identify market strength or weakness. VSA is used to identify buying and selling opportunities and to predict market trends, particularly through the use of the TradeGuider software. The final source, "Crabel Opening Range Breakouts," discusses the opening range breakout (ORB) technique, a trading system that identifies trend days and potential entry points based on price action in the first few minutes of a trading session. It explores different patterns, such as inside days and narrow range days, that are associated with trending action and provides specific trading strategies for each. The source also emphasizes the importance of judgment and market knowledge in conjunction with these technical patterns.

This guide from J.P. Morgan Asset Management provides insights into the various aspects of planning for retirement in the United States. It covers essential topics like life expectancy, Social Security benefits, savings strategies, and retirement spending. The guide also touches on key factors like inflation, health care costs, and the SECURE 2.0 Act, offering valuable information for individuals looking to make informed decisions about their financial future.

In a world filled with uncertainties, protecting your business and personal assets is paramount. Welcome to "Why Work with a Certified Liability Advisor?", the podcast that uncovers the critical role these experts play in safeguarding your financial future. Join us as we delve into the complex world of liability, explore strategies for risk mitigation, and discover how a Certified Liability Advisor can be your shield against the unexpected.

Working with a Certified Liability Advisor for your mortgage and lending needs is a completely different experience. Listen to this short podcast interview and if you'd like to learn more visit us at niofe.org.

Continuum - Time Scarcity by Todd Ballenger

CLA Mastermind - Leverage by Todd Ballenger

FAST working with advisors, how to do Milk Runs and leave behinds for financial advisors. Rolled out the FAST 2nd Look Strategy in FAST Strategies.

4-24 Small Hive - Pain Mining and CALM by Todd Ballenger

CLA Mastermind - Inflation by Todd Ballenger

4-5-2024 CLA Mastermind by Todd Ballenger

The 3-Sided Balance Sheet, how to position more like a financial advisor to develop consumer business and advisor referrals.

HIVE Mastermind FAST 2-23-24 by Todd Ballenger

Listen in as Todd, John and Mike Slaughter - A financial advisor with his CLA talk to a group of financial advisors nationally about liability management.

CLA Small Mastermind Group Discussion

Why Use a CLA - John Thompson by Todd Ballenger

Discussion about Return as a component of the Borrow Smart Conversation.

Mastermind Call IKIGAI and Missing Money by Todd Ballenger

Why Aren't You Getting More Advisor Referrals - Part II by Todd Ballenger

Want to know why you aren't getting more referrals from financial advisors, listen to this discussion.

In this conversation, we talk with Mike Slaugther - financial advisors - about working with advisors, asking questions that many lenders are afraid to ask.