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In this video, I’ll be covering some of the advantages of fully paying off your primary residence’s mortgage early vs investing those funds in the markets or other asset classes. Considering the low-interest rates, does it make sense to pay off your home’s mortgage early? Find out in this video.
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In this video, we speak about the pros and cons of paying off the entirety of your mortgage on your primary residence considering the current low interest rate environment. Entirely paying off your mortgage may be something that you strive for to allow for greater financial freedom, but does it make sense financially? Should you be focusing on paying off your house or investing instead?
It really depends on the terms of your mortgage loan, the interest rate, your financial situation, and other psychological factors that may come into play. For many, having a fully paid off home can be invaluable and allow for a much higher saving rate.
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⏰ Time Stamps:
1:20 Financial Factors
1:37 Lower Cost of Living
2:35 Early Retirement
3:35 Higher Savings
4:18 Impact on Net-Worth
6:20 Mortgage Interest
9:20 Opportunity Cost
13:20 What About Me?
Disclaimer: This video description contains affiliate links, meaning that if you click on a product link, I may receive a commission at no additional cost to you. I do not promote products, services or companies I have not personally used or those which I do not recommend. All opinions are my own.
Are You Considered Debt Free if You Have a Mortgage, Pay Off Your Mortgage Early or Invest Instead?.
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Be sure to examine your other areas of spending, in addition to your income. The very first loan kind is called a safe financial obligation loan. Usage comparison websites, to learn if you can get a much better deal.
Pay Off Your Mortgage Early or Invest Instead?, Find top reviews about Are You Considered Debt Free if You Have a Mortgage.
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Financial goals are a way of getting rid of temptations to purchase and own less essential products and services. The next part to this step is “cutting the fat.” Take a look at where you are spending your money.
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“Qualified” UnSecured Debt – This consists of all unsecured financial obligation (financial obligation NOT Secured Debt by a title or possession) that might get approved for financial obligation management programs such as credit counseling, debt negotiation/settlement or other debt management programs.
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The result is the quantity of cash you must earmark monthly for your Vacation Fund. We will also speak about how you can remove your charge card debt later. Financial obligation backed or protected by collateral.
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