In today’s world for every $200 you spend extra on loans due to high interest rates (which can easily be accomplished on one loan) because of a non perfect credit score equates to a ¼ million dollars 30 years down the road assuming only a 7% compounded return. What happens if you can’t qualify for a loan to begin with, what does that damage look like? Studies show that 75% of millionaires come from being self-employed or from the real-estate market.
Due to inevitable inflation if you’re not a multi-millionaire in 30 years you might not be able to afford a cheeseburger, and what better way to do it than being a home owner. Recognizing and delivering these types of messages for your clients makes you think that every person should be working to fix their credit regardless if they are trying to get a loan or not.