2703: Why Paying Off the Mortgage Early May Be a Big Mistake by Len Penzo on How to Fight Inflation

Optimal Finance Daily - Financial Independence and Money Advice

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Investing, Self-improvement, Education, Business

4.5 • 1.3K Ratings

🗓️ 25 April 2024

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2703: Discover why paying off your mortgage early might not be the financial boon you expect in Len Penzo's insightful analysis. Penzo, leveraging historical examples and economic trends, argues that in a high-inflation environment, maintaining a mortgage could be more advantageous than clearing it early. Explore this counterintuitive approach to personal finance management and how it might apply to your financial strategy. Read along with the original article(s) here: https://lenpenzo.com/blog/id25716-why-paying-off-the-mortgage-early-may-be-a-big-mistake-2.html Quotes to ponder: "Mortgage payments (became) no more than a nominal burden to (homeowners) - a consideration which dismayed the mortgage banks." Episode references: When Money Dies by Adam Fergusson: https://a.co/d/iJQCS7C Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Imagine being the first person to ever send a payment over the internet.
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0:21.2	Don't invest unless you're prepared to lose all the money you invest.
0:23.7	This is a high-risk investment and you should not expect to be protected if something goes
0:26.8	wrong.
0:27.8	Must remember, do not forget.
0:35.0	Remind me to bring photo ID.
0:39.0	Reminder, set.
0:41.0	Babe, can you make sure I don't forget my photo ID when I vote?
0:45.0	All right, love.
0:48.0	However you remember, you'll need photo ID to vote on the 2nd of May.
0:53.0	Find out more at Electoralcommission.org.
0:55.1	UK slash voter ID.
0:59.0	This is Optimal Finance Daily episode 270702.3.
1:03.0	Why paying off the mortgage early may be a mistake.
1:06.0	By Lenpenzo of Lenpenzo.com.
1:10.0	And I'm your host and personal finance enthusiast, Diana Merriam.
1:14.2	We're going to get right to it as we optimize your life.
1:17.7	Why paying off the mortgage early may be a big mistake by Lenpenzo of
	...

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