Paying Off Your Mortgage Strategically

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Listen Money Matters

Careers, Business, Investing, Education

4.4 • 2.3K Ratings

🗓️ 1 July 2019

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

For most people, their mortgage is their biggest debt. And we all know that debt is bad. Debt is an emergency that we must pay off as soon as possible. But is all debt bad? Is paying off your mortgage quickly a good personal finance strategy? Paying off your mortgage more quickly has its advantages when done strategically but there are downsides too. We get a lot of emails asking about paying off mortgages early and people site various reasons for wanting to do so. A lot of people want to join the FIRE movement. They want to quit their jobs, retire much earlier than the typical retirement age of 65, and sometimes start a business with their extra money and time. Mr. Money Mustache is the God Father of the FIRE movement. He paid his mortgage off years ago to be able to live on something like $30,000 a year. Some people just hate the idea of having any debt hanging over their heads and as we wrote, a mortgage is the biggest source of debt for most. And there are some homeowners who have a bad interest rate and want to save as much money as they can in a bad situation. Yes, the idea of being mortgage free is seductive but before you decide anything, we want to show you how to pay off your mortgage strategically. Full Article Here Show Notes Peachy Bones: An India Pale Ale Jam Skate: A Double IPA Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hey guys, I wanted to share something new I've been working on.
0:05.7	It's called Seeking Profit and it's a podcast where we talk about the second phase of my
0:10.2	personal finance journey building online businesses.
0:13.9	These businesses earn money while I sleep and have detached my time from my income.
0:19.2	Since 2013, I've generated millions in revenue with these websites.
0:24.2	I felt it was long overdue to create a show in Listen Money Matter Spirit that taught the
0:29.6	ins and outs of online business building.
0:31.5	This is my biggest passion and if you're interested in coming along for the ride,
0:35.7	just head over to SeekingProfitShow.com or search for Seeking Profit on YouTube or your favorite podcast app.
0:43.4	We're Seeking Profit!
0:50.3	Hey everybody, welcome to Listen Money Matters.
0:52.3	The difference between analysis and action is success.
0:55.4	My name is Matt and I'm here as always with Andrew Andrew.
0:59.2	How are you and what are you drinking?
1:01.3	Dude, I am better than usual because we had an awesome listener, Robert.
1:08.9	I'll spare his last name to the show.
1:12.1	He sent us some really delicious craft beer.
1:15.3	Oh my god.
1:17.2	Dude, it's awesome.
1:18.6	So I didn't know it was coming.
1:21.6	I get a box at my front door and the you know bomber.
1:26.4	I swear to dude, I'm not kidding.
	...

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