Why You Should NOT Pay Off Your Mortgage Early
If you want to learn about the pros and cons of paying off your home mortgage early, this is the video for you!
Some, like Dave Ramsey, suggest paying off all debt on your home as soon as possible. Others recommend never paying off your home and instead leveraging the debt for your investments.
I take a balanced approach between both of these extremes and provide three questions that will help you analyze your situation and decide what works best for you. Additionally, I explain why I recommend NOT paying off your home in full until your retirement is fully funded!
Remember, Financial Freedom is found through Discipline 👏
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Timestamps:
00:00 - Mortgage repayment: two schools of thought
01:10 - The problem with mortgage repayment extremes
02:13 - Three things you need to ask before paying off your mortgage
02:30 - 1.Have you eliminated all other outstanding debt?
03:03 - 2. Have you funded an emergency fund?
03:45 - 3. Have you adequately funded your retirement?
04:25 - Two questions to help you allocate your extra cashflow
05:37 - So, should you pay off your mortgage early?
#mortgage #retirementplanning #debt
Chisholm Financial Planning & Investments is owned by Jenny Logan and is a registered investment advisory firm regulated by the Securities & Exchange Commission in accordance and compliance with US securities laws and regulations. Chisholm Financial Planning & Investments does not render, or offer to render, personalized investment or tax advice through any videos or other content on any social media platform to include YouTube. The information provided in these videos is provided without compensation and for informational and educational purposes only and does not constitute financial, tax, investment, or legal advice.
Copyright © 2023 Chisholm Financial Planning & Investments
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