Reader's Reviews
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I have read both of the MF101 books and find that they do not fully disclose the potential pitfalls of equity harvesting. I believe as a mortgage planner, it is my duty to introduce my clients to the concept of equity harvesting; however, under full disclosure. Equity harvesting can be a powerful wealth building tool, but before implementing equity harvesting, one must be aware of the pros and cons. I believe many advisors unknowingly may be opening themselves up to potential lawsuits by not fully disclosing the potential downsides to equity harvesting.
The Home Equity Management Guidebook covers the potential negatives of equity harvesting, whereas MF101 is obviously a sales book created to sell life insurance products. Missed Fortune 101 implies that someone would be an idiot if they did not refinance their home and invest it in life insurance contracts. Can equity harvesting be a viable option for wealth building? Absolutely. However, the fact is that equity harvesting is not for everyone; therefore focusing on becoming debt-free, including paying your mortgage off early, is often times for many, the best course of action to take.
The Home Equity Management Guidebook explains the benefits of equity harvesting, but only in a manner fully disclosing the potential risk. MF101 is nebulous in many of the concepts, and does not give full disclosure.
I thought the book was very easy to understand, with numbers to back it up. I don't agree with the negative review that it would be hard for the average reader to understand, and then again, maybe myself and my clients have above-average intelligence....
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I love the book, however it reached me with a cut through the back of the book. Takes out about 2 chapters...seems to be a cut as if it happened when someone was opening boxes. Not worth the trouble of sending back- however I paid almost $40.00 for a brand new book that was damaged.
To get to the real substance of this review!! Great information, blunt, direct and without apologies! I am in the financial business and agree that you should have some background to understand the topics and details. If you have any background this book will show you things that you would never get anywhere else!
This book is inspiring and makes you want to spread the word...that is if you are in the business to help people and not just make a dime, quarter or dollar off of them.
Mr. Defrancesco is not a Financial Advisor- he is an attorney and is not in any way trying to sway readers to do anything except for to understand "THE FACTS"! REFRESHING!!!!!!!
GREAT BOOK!!!
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This book shares some tremendous ideas and methodology about equity harvesting and retirement planning. However, it is not a book that someone can read in one sitting. The writing is a bit dry and some of the example are long and drawn out.
Nevertheless, everyone should (or have their advisor)absorb the techniques in this book. Some of the advice is simply brilliant and the number do pan out.
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