ENCORE: Why Paying Off Your Home Mortgage Might Be a Bad Idea
Be Wealthy & Smart
Linda P. Jones
4.8 • 883 Ratings
🗓️ 22 August 2018
⏱️ 16 minutes
🧾️ Download transcript
Summary
Learn the pros and cons of paying off your mortgage, why opportunity cost matters and the one reason you might consider all the facts and choose a different course of action.
Transcript
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| 0:00.0 | Be wealthy and smart, episode 112. |
| 0:03.0 | I'm gonna live no rich life. |
| 0:06.0 | Rich life. |
| 0:07.0 | Oh, that's life. |
| 0:10.0 | If y'all know what I mean, put your hands up and declare with me |
| 0:13.8 | Yeah, I'm full of faith I'm gonna live a good life I'm gonna live a good life |
| 0:21.2 | A beautiful and glorious life Step into a world of wealth and wealth and financial freedom without budgets, boredom or bosses on, be wealthy and Smart. And now here's your host, Linda P. Jones. |
| 0:38.0 | Welcome to Be Wealthy and Smart. I'm Linda P Jones, America's Wealth Mentor, Empowering Women and Men Worldwide to Financial Freedom. |
| 0:46.1 | On today's show, you're going to learn the five reasons why paying off your home mortgage |
| 0:51.2 | might be a bad idea. |
| 0:54.0 | What you're going to learn are the pros and cons of paying off your mortgage, why opportunity |
| 0:59.2 | costs matters, and the one reason you might consider all the facts and choose a completely different |
| 1:06.6 | course of action. |
| 1:09.4 | Well with all of this talk about paying off debt, it seems like people are thinking about talking |
| 1:16.7 | about paying off their home mortgage. |
| 1:19.9 | Is this a good idea or not a good idea? |
| 1:23.5 | Well, we've talked about credit card debt on the show. |
| 1:26.3 | People have sometimes auto loan debt. |
| 1:29.3 | Certainly student debt is an issue. |
| 1:32.1 | But with mortgage debt, it's it's of course a very long-term debt, either 15 or 30 years |
| 1:37.7 | depending on what kind of mortgage you have, and the rally cry seems to be pay off all debt no matter what. |
| 1:45.3 | And I just wanted to review this with you and see if that's really an accurate thought or if |
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