Why It Doesn’t Make Sense to Pay Off Your Mortgage Early

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Beware the opportunity costs!
00:00 Intro
00:36 Source: www.google.com/url?q=...
00:41 Example- Paying off your mortgage
02:22 Tip 1- Invest in the Stock Market
03:29 Tip 2- Put it in Savings
04:03 • How to Save Over $250 ...
04:12 Tip 3- Buy Life Insurance
05:14 Tip 4- Invest in a 529 College Savings Plan
05:36 5 More Ideas
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Опубликовано:

27 июл 2024

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Комментарии : 27

@chrismoerschel1870 Год назад

I was taught in college finance class to never pay off mortgage. Because of the effect of 'time value of money': because of inflation the early money buys more than the money at the end of the loan. Because of inflation people tend to earn more as time goes by so it gets easier paying a mortgage. I listen to Dave Ramsey too so I am conflicted. I will be living in my house wether or not I own out outright or rent it! I still have equity in the house. If for some reason I need some cash I can get a HELOC: something I couldn't do if i paid the mortgage off.

@josephvarano3531 2 года назад

What if you're not going to retire in that home?

@billwierling3836 2 года назад

Never understood people who buy a home and then race to pay it off. Waste of cashflow. Especially now with inflation way higher than your mortgage interest rate. Interest rates way lower than stock market earnings.

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@shobyvinci 2 года назад

So, it makes sense to pay 100s of thousands in interest and it doesn't make any sense to save all that money and get out loan free earlier?

@brandenleeyang22 2 года назад

No, it doesn't if you invest your money. Every year if you had a 3% mortgage, the 8% inflation basically made you 5% profits, destroying your debt by increasing your house equity. If you paid earlier, all that money you could've made with 5% is gone.

@abdumamed6602 2 года назад

You forgot a key word called "inflation" my man

@blessedsuccess7469 2 года назад

No dude pay the mortgage off I’m telling you these ppl are idiots bro make sure you have a good solid 2 years with of living expenses saved up and invest 10-15% of your income and the rest of that throw at the mortgage and 💨 it, you can’t put a price on the peace of mind that a paid for home can give you the security of your family always having a roof over their heads you’ll sleep better at night, once you pay it off you free up so much cash flow monthly you can get caught up on your investing in no time no mortgage spring loads you into retirement why slave for 20 years and invest it all while paying the bank thousands and thousands of dollars in interest just to get 20 years down the road and have what maybe $200k? For what to still owe $100k on a mortgage?? Then you’ll lose thousands more when you go to sell your investments, one thing to help you make your decision is this paying off your mortgage is a GUARANTEED 1000% rate of return and peace of mind, investments are not guaranteed,and the highs and lows of markets bring stress and worries and you can wake up to that money gone one day, pay your house taxes and they can’t take your home title from you in telling you pay it off Asap

@shobyvinci 2 года назад

@@blessedsuccess7469 I was being sarcastic :D I am the "Pay-mortgage-asap" team!

@blessedsuccess7469 2 года назад

@@shobyvinci I know bro I’m just saying all those defensive investors was coming in 😂😂 I’m 1000% with you lol they can keep paying all those thousands of dollars to the bank in interest on their “low” mortgage rates when they are at a all time high right now then they can pay that hefty tax bill when it’s time to sell them investments all just to have a high mortgage balance still there waiting to eat up what they make from their investments smh 🤦🏻‍♂️ while we continue to decrease our balance and put still a portion into investments you got your portfolio going up and debt coming down you get to slay the dragon double and just getting faster and faster to having a net worth😅

@MrDark21knight Месяц назад

It does to me.

@666dynomax Год назад

8% in the s&p. Mortgage rates are headed over that in 2023

@lalexander1144 2 года назад

Save for health care and retirement instead. Even if you pay your house, if you happen to need Medicaid, they'll take your house to pay for it anyway.

@666dynomax Год назад

Thank god I live in Canada what an awful way to live. You’d thinksuch a great country could look after its people.

@economicdevelopmentplannin8715 Год назад

Buy life insurance, a therapist. Buy happiness? You're still trying to get people to buy stuff. Being mortgage free is part of an ongoing effort to not buy stuff!! Consumerism doesn't lead to happiness. Freedom from it, does.