Our Advisor Is Advising Us Not To Pay Off Our Home

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 12 February 2025

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	This episode is brought to you by SmartVester.
0:08.0	Connect with an investing pro near you at ramsysolutions.com slash smartvester.
0:13.8	Carol is with us.
0:15.1	Carol is in New York City.
0:17.9	Hi, Carol.
0:18.4	Welcome to the Ramsey Show.
0:19.9	Hello.
0:20.4	Thank you so much for taking my call.
0:22.4	It's thrilled to talk to you all. You too. What's up? I have a husband who's retiring within the next 12
0:28.5	months, and we'd like to finish paying off the mortgage on the house. Good.
0:33.6	Yes, but per your advice. And our financial advisor is advising us not to because the mortgage is at under 3%.
0:42.4	And our investments are doing well above that.
0:45.6	However, that doesn't matter to us.
0:47.3	We want to plow ahead and get this done.
0:50.1	And our next question to him is how can we best divest of our investments and pull the money out,
0:56.1	make the cash available to do this.
0:58.4	And his next tier of advice is to pull from our bonds that are earning at tax-free rates,
1:05.6	as opposed to pulling from our mutual funds that we'll have to pay capital gains taxes on.
1:12.8	What do you suggest we do?
1:19.0	You probably got no gain on your bonds. They're probably value is down, even though the coupon rates stayed the same. But as interest rates rise, bond values go down. And so my guess is that
1:26.7	you bought them during a lower interest rate
1:29.1	environment, so they're probably not even worth what you paid for them today. Is that right?
	...

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