Does It Make Sense To Pay Off My Mortgage?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 3 July 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	Brought to you by the Every Dollar app.
0:04.2	Start budgeting for free today.
0:06.5	Well, I'm new to the show, and I'm sure you get this question a lot, but I've never heard
0:11.1	the answer.
0:13.3	I'm trying to figure out why I should pay off a 2% mortgage with money that's making 5% or 15% or whatever.
0:25.6	I mean, I can pay it off, but man, I, 12 years left on a 2% loan.
0:30.6	I can't.
0:31.6	What's your balance?
0:32.6	Find the reasoning.
0:34.6	92,000.
0:35.6	Okay.
0:36.6	All right. So,000. Okay. All right.
0:38.1	So I understand your question, and as a math nerd, I used to make all of my decisions through
0:47.2	the math lens as well.
0:49.3	The more I've developed teaching this stuff and learning about it over 30 years and working
0:53.3	with very, very wealthy people.
0:55.4	One thing,
0:56.0	a couple things that come to mind.
0:57.3	And I completely grasp your concept.
0:59.5	It seems ludicrous in the way you're looking at it to do that.
1:03.2	But let's first break down and say,
1:05.4	what are you really making?
	...

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