How to Pay Off Your Mortgage Early - Main Topic #92

Does it matter HOW you pay off your mortgage early as long as you do? Is it better to pay a little bit extra on the principal every month? Is it better to invest and then pay it off all at once? Investigating the pros and cons of these two methods for paying off your mortgage may help you choose the one that is right for YOU.

In the Main Topic today, Jay shares two ways to pay off your mortgage. This topic was inspired by a comment on one of our YouTube videos. Jay gives the math and facts behind the pros and cons of these two alternative ways to pay. Method #1: Pay a little extra toward principal every month. Method #2: Invest or save up until your savings hits your current balance. At that point, you can pay the whole thing off at once. Is method #2 faster if your investments or high yield savings account makes more than your mortgage interest rate? Do you have a favorite method? Let us know what you think in the comments!

Watch the full episode here: https://youtu.be/xBGp9S2Pf6U

Main Topics Playlist: https://www.youtube.com/playlist?list=PLo6Zlf1BSGrZM50_NAabg7tOhASym2xxD

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Music: "Take Me Higher" by Jahzzar

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