Do I Regret Paying Off My Mortgage Early?

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In today's video I am going over if I regret paying off my mortgage early or not.
It has been about 9 months since my wife and I have paid off our mortgage.
Since then, I have had a lot of people voice their opinion on us making the decision to pay off our mortgage instead of putting that money into investments.
So I thought it would be good to make a video going over my thoughts after 9 months of having a paid off mortgage.
Paying off your mortgage should be something you are proud of because honestly, if you choose to pay off your mortgage early or invest in the market, either of those is a win!
So… do I regret it? Short answer is HELL NO!!!
If you came for the short answer thank you for watching and if you could just hit that like button for me that would be great!
Now for those of you sticking around to see why I don’t regret it… lets dive into that right now.
1. Invested the money
Most peoples argument for not paying off mortgage early is you should invest the money instead and I would agree with them!
If I were to put the money I used into my mortgage instead into the S&P 500, I would have a lot more money years down the road than if I just paid off the mortgage.
One thing to note here, I still invested in the market while I was paying off the mortgage. I wasn’t putting every dollar I had towards the mortgage and I think that is important. There still needs to be a percentage that goes into your investments. At least 15%.
Some of you may ask well if you knew you were going to make more money then why not invest it and not pay off the mortgage?
2. Safety/Peace of mind
I sleep better at night
NO EXPENSES (minus typical bills, electric water etc)
My risk is a lot lower if something were to happen to my income
3. More Money To Invest
Now that I don’t have any expenses, I can have a lower emergency fund in cash and can put more money in investments. That money that would be going towards my mortgage is now going towards investments.
I am on the journey to financial independence. My investment income covers my lifestyle. So the lower I can make my expenses, the faster I can get there.
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[@jjbuckner]

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[@DGC904]

Smart play and u always have a roof over your head with no worries.

[@cherylbroadenax1006]

I agree. They can get back into debt if they don’t like being debt free. This yr I put 75k towards my principle. Was at 242k dec 2020 and now oct 2021 down to 167k. Gazelle intensity. Smiles.

[@562Omar]

JJ you have a striking resemblance to retired MLB player Russell Martin.

[@wojak168]

The positive reward is that you don't have to worry about losing your job in the future after paying off your mortgage. You will always be able to support yourself flipping burgers at McDonald's because you don't have to pay for shelter which is the largest living cost people have and the main reason why people work to begin with. Even if you invest and earn a higher yield, if you lose your job and cannot get a replacement at the same level of income soon enough there is a high likelyhood you may loose everything you have. The exception to this are high skilled blue collar professionals like truck drivers, mechanics and registered nurses etc. but most people are not in those types of industries. If you have to pay for housing costs jobs basically control and you could even say own your life. Removing the source of your need to have a job allows for personal freedom and moreso future financial freedom from the burden of having to make sure you can pay for a roof over your head

[@jayjay-bz3rr]

If my Bitcoin skyrockets, I can pay off my townhouse

[@CaseyBurnsInvesting]

If you regret it you can always get another one.

[@jjbuckner]

haha love this!

[@uverex251]

😂😂😂

[@alvarorangelm70]

Dave Ramsey listener right there

[@billyjohnson9166]

Where’s your channel Casey?

[@superblump87]

@@jjbuckner it's a Dave Ramsey quote. The person you replied to literally posts a comment on every single Dave Ramsey video.

[@FennaVa]

My wife and I's monthly payment was $2415 month. We would pay an extra $500 a month towards the principal. We currently just refinanced to get a lower interest rate and to get off of PMI. Our new monthly payment is $2918 a month. We plan on still paying $3700 a month but are now going to do bi-monthly payments.

[@NowakJosef]

Try making the payments quarterly, in addition to adding, a payment each month and watch how fast the payments begin to drop on your amortization chart. I've got one more year after starting about a year ago. The timing of the payments is everything. This is the only thing that they all leave out when doing the videos.

[@ralfbrown-kl1gp]

Instead of extra payments, I suspect you would be better off putting the $782 per month into shares of Apple and Amazon. The video more or less describes how you can get out of being a debt slave When you have cash you have options. Smart people hold on to cash. They don't instantly shove it toward debt. Once it is used to pay on the debt, it is no longer accessible.

[@marcellasilva4015]

One part of this vid that I do like is the idea of not taking on a large debt in the first place. I think there should be a balance between the amount of debt you incur and the amount of cash you can invest. I would rather have a $1000 house payment and $1000 going into stocks than a $2000 house payment and no stocks. If you have cash and you’re confused I will suggest you contact a finance advisor

[@marcellasilva4015]

Sharon Ann Meny, just check her out. It's better to hire a skilled financial planner especially if you're not one yourself. I hired one after my retirement pension took a hit in 2021 April due to the crash.

[@florianmadison]

I paid up all my mortgages in 2yrs while working with a Financial Adviser. I’m 50 and my husband 54 we are both retired with over $3 million in net worth and no debts. We got to realize that the secret to financial freedom is making better investments.

[@tahirisaid2693]

That is so amazing, I’m trying to get onto the investing ladder at 40. I wish at 55 I will be testifying to similar success..

[@florianmadison]

I read a book that talked about having a financial adviser. Well, Credits to *ROCHELLE DUNGCA-SCHREIBER,* she saw me through the process. You can glance her name up on the internet and verify her yourself. she has years of financial market experience....

[@darkknight17]

H Florence, I'm super inspired but your comment. Would you be willing to share some of your lessons learned? "Teach a man to fish, feed him for a lifetime." 😀🙏

[@GillerHeston]

I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways

[@eloign7147]

Interest rate is currently at 4.75%(8th rate hike since March last year) Inflation at 7% and mortgage rates is at over 7.5% but yet minimum wage remains the same and my retirement portfolio has suffered tremendously these past years, so my question is how do senior citizens retire and live off such unstable economy. The long term game is obviously not for me at this point.

[@rogerwheelers4322]

A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!

[@joshbarney114]

On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal portfolio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $150k since then.

[@harwellron1289]

@@joshbarney114 I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?

[@joshbarney114]

@@harwellron1289 They are truly top-notch in their profession; I had the pleasure of working with one and it proved to be immensely advantageous as they helped me restructure my entire portfolio. My advisor is none other than "Colleen Janie Towe" , a renowned figure in her line of work whom you may be familiar with.

[@HarpreetSingh-tt3io]

Pay of your mortgage is a great peace of mind. Everyone talks about the math but forget the psychology

[@jjbuckner]

Agreed!

[@anthonyepperson7868]

Agreed a thousand percent

[@jerhodes21]

Facts.... peace of mind is priceless.

[@Paulokun7]

Peace of mind for sure. Also, people don't think about when you no longer have a mortgage you're potentially gaining more time. If I don't have a mortgage, that means I don't have to work as much, and not working will allow you to spend more time on things you'd like to do instead of a 9-5 job. More time with friends, more time with family. Sometimes I feel people don't realize that time is the most important thing.

[@DeusExAstra]

Managing your money based on emotions... yeah great idea.

[@DivineElementsDesign]

I paid off my mortgage last November, 13 years early. Not a day goes by where I question that decision. That was the best choice ever. True homeownership is priceless. And yes, of course you still have to pay taxes and home owners insurance. That’s not a big deal when you’re considering the big picture. That’s like complaining that you still have to pay for gas or insurance when you buy a car. 🙄🙄

[@briann8983]

I paid mine off fifteen years early. I was laid off from my job four years ago and found another job that was not desirable. I quit it after a year. Never thought of retiring earlier than my full retirement age 67 ( I was 56 when I quit). Because my goal was not only to pay off my mortgage early I was an aggressive saver contributing to retirement accounts and my emergency fund. I have decided to retire now as I have my investments laddered. I would not have been able to retire had I not had a game plan to pay my mortgage earlier freeing me up from the most expensive liability.

[@thesuperioraffection4502]

Congrats and I do agree, yet if property taxes are not paid, the true owners will come for their property.

[@kristys9370]

Congratulations to you.... I'm still toddler stage so that is a big goal I'm working towards.... But a least you have the biggest DEBT paid off unless you have a lot in student loans....

[@DivineElementsDesign]

@Emartinez2499 No property taxes here. I’m a disabled vet.

[@DivineElementsDesign]

@@thesuperioraffection4502 I’m a true home owner and disabled vet. No property taxes here.

[@FrankPapadakis]

Some people's comments here show how bitter they are about someone else paying off their mortgage early lol. I love the "hur dur property taxes" comments 😄 like you're not already paying property taxes while you have the mortgage, but all of sudden once the mortgage is gone paying property taxes all of a sudden becomes such a challenge 🤣

[@dpeagles]

👍👍👍👍💯

[@taliatehilahz7437]

😂😂😂 dude you are so right

[@xterra4hire]

Wish I could heart this

[@stanley4006]

My wife and I bought our house at the age of 23 in 2001 paid it off in 2013. Best thing I ever did. My son was born 3 months early at 1lb 4oz with LOTS of medical problems. Since we didn’t have that huge mortgage payment it let her stay home with him and take care of all his needs. Between our house, investments and property we are almost millionaires right now. Our home has more then doubled in value since we bought it

[@1.21Gigawatts_]

Those investments are not guaranteed to pay you back. It's a risk. Pay off your mortgage so you're not paying interest

[@blessedsuccess7469]

Exactly

[@davysmith8569]

truth, owning your house IS a guarntee. Own it then play around with "investments"

[@steve99912]

@@davysmith8569 I'd rather let my investments help pay my house off over paying it off from my paycheck. But I have a stable job so it's a little different than self employed people

[@top7elites597]

oh great another amateur in the markets who doesn't know what they're doing lmao

[@JimmyHuynhdesign]

With a 30 year horizon (the length of the standard mortgage) the market has always returned net positive.

[@YFolermira]

I successfully paid off all my mortgages in just two years, thanks to the assistance of a Financial Adviser. At 54 and 48 years old, my husband and I have retired with a net worth surpassing $2 million, and we have no lingering debts. We've recognized that the crucial factor for achieving financial freedom is to make more informed and intelligent investment decisions.

[@Rodxmirixm]

That's truly inspiring. I'm striving to enter the world of investing at 42, and my hope is that by the time I reach 53, I'll have my own success story to share.

[@AlexanderDanielley]

That's impressive ! I could really use the expertise of these advisors.

[@stephenrice5938]

This thread is a total load of crap.

[@stephenrice5938]

@@Rodxmirixm You won’t.

[@VickyAlvy]

Yes, she can. It’s possible .Numerous avenues exist for generating high yields during a crisis, but engaging in such trades is most advisable under the guidance of a financial advisor.

[@dannykeeley9005]

I cleared my mortgage in ten years, saved for the next three and when the credit crunch happened I put down deposits on a few more properties. Fast forward 13 years I've been out of work for five months now, my properties have nearly doubled in that time and I'm saving more than I'm spending. Best thing I've ever done.

[@dannykeeley9005]

Just to add in that time I took every shift available to me and saved a lot, it took 25 years of hard work.

[@flawedsparkle6618]

Kudos! What a great motivating accomplishment !!

[@dannykeeley9005]

@@flawedsparkle6618 thanks, it's not easy but it's not impossible

[@blaakcoffee]

👏🏿👏🏿👏🏿👏🏿👏🏿👏🏿👏🏿👏🏿👏🏿👏🏿

[@johnnyp655]

Absolutely well done... Younger generation can learn a thing or two about being debt free

[@WhiteBoardFinance]

Mortgage free gang 👀

[@jeradkiester698]

The real Marko in da house

[@maxb4724]

Psychological security and freedom , worth more than math equations

[@562Omar]

Sweet! Marko you are everywhere.

[@missgirlie1980]

Apple 🍏 bottom Jeans 👖 😂

[@josephjones836]

Marko; love your videos man. Love when one content 😌 producer watches another.

[@anad44]

Correct. Living in a paid for house for almost 20 years. We are living quite well on what many would call a “low” income. 😒😎

[@paradox206]

I love owning my home outright. My mortgage kept me locked into a career that I hated, but now I have hope for the future. Honestly, it never felt like my house as long as the bank held the deed.

[@neightarch]

Amen! Modern day slaves to the system

[@dustinryan9671]

The government still owns your home, stop paying your property taxes and see what happens. We are renters of everything.

[@dustinryan9671]

@MikkelRS that is awesome!

[@highpowerx4554]

Well said.👏

[@jercasgav]

I am more concerned about the government taking the house than the mortgage company. Government gets to act above the law more than even the darn bank!

[@warrenpeece1726]

Interesting. When I retired and sold my house I was able to buy my current house for cash. Some friends told me I should take out a mortgage and invest that money. But I never seriously considered doing that, and I must say, I sleep very well at night knowing the house is paid for!

[@KnowledgeSeeker78491]

Don't you hate people giving you unsolicited advice about what to do with your money?

[@blackdiamondsales10x]

Good job

[@mikimiki195]

No better feeling than knowing bank can Fu(k off You own that pice of heaven on earth 👍🏻

[@linuxsurfer2002]

The peace of mine is worth it.

[@dennisdmenace6249]

​@@linuxsurfer2002 So is the Peace of MIND. 😁

[@Evil-Rod-Farva]

Got one paid off two years ago and now less than two years away from paying the second. The best part is the flexibility and freedom I will gain from it. Life is a lot easier when you you have the ability to say “nah” when a job is crushing your soul. Pack light, travel often, and never let the things you own, own you.

[@karaayers2867]

Absolute truth right there. We love it, the freedom is great.

[@Jim.Jim.32]

COngrats, but you could have bought 3-4 smaller rental properties and used the rental income to have no housing costs on your primary, plus end up owning all the properties, plus you could borrow against them if needed. We are at record low iteretes rates

[@Evil-Rod-Farva]

@@Jim.Jim.32 while true, that also means I carry the risk of having 3-4 properties whose mortgages I couldn’t have paid if the US government removed my ability to evict problem tenants. That very thing just happened to landlords all around the country. I value my freedom of movement more than max ROI. Different strokes for different folks.

[@666dynomax]

@@Jim.Jim.32 can still do that now. And having credit is not As comfortable for some as others

[@Jerbrown]

Well said, Whiskey!

[@Slydeish]

From my experience, the people against me paying off my mortgage early are people who are basically living paycheck to paycheck and don't have the money to even make extra payments, much less ask the bank for an "early payoff" amount. Why invest in an economy running on a dollar that has lost 94% of its purchasing power since the 70's? I'm 3 years from my goal and there is literally nothing that would stop me from paying off my mortgage 25 years early.

[@michaelkeudel8770]

My last payment goes in at midnight tomorrow, 8 years early after 15 years of nothing but financial chaos (2007 recession hit me hard, and what followed after didn't help either), I'm already breathing easier.

[@formula112967]

@@michaelkeudel8770 Congrats! I have made 2 principal payments a month for the last 8 years...I just made my January 2031 payment.....if I can keep it up, I will be done in 7 years, cutting my 30 year loan into 15 years, and saving $60k in interest.

[@mitsospiros]

Dollar losing value=higher inflation helps you if have debt. It reduces the value of the loan. I don’t understand if having the amount you would need to payoff the house in investments, what the difference would be compared to paying off your house. If you needed to pay the mortgage off you can do so quickly. In the long term, your investments will grow quicker than your mortgage rate.

[@KnowledgeSeeker78491]

​@@mitsospiros List the investments that people should invest in? And I don't mean generic like stocks, real estate, etc. I mean tell me the name of that stock and how much dividends it's paid in the last 5 years. If it's real estate, tell me exactly where that property is located and who to contact to buy it. People are telling you all that they have paid off their mortgage and folks on the sidelines telling them they should have invested. What if they had instead invested that money in ROKU stocks? They would be up sh*t creek right now

[@mitsospiros]

@@KnowledgeSeeker78491 mortgages are typically 15 or 30 years. Any index fund tracking the S&P 500 will certainly do better than any mortgage interest rate during that time period.

[@adamyelle4901]

It's amazing how few people are supportive of paying off a mortgage. We did it to get out of the cycle of owing other people money. Feels fantastic to no longer be held to someone else's demands every month. Making financial decisions on my own terms with my entire paycheck is priceless.

[@linuxsurfer2002]

They don't want to give up their lifestyle. I'm making the assumption that most people have to cut back in order to afford the additional payment money.

[@justinc2625]

Plus paying huge sum of money in Interests each month to make someone else rich

[@hello-nq3ze]

Because the opportunity costs are high. I'd rather invest the $500k elsewhere and pay a 3% mortgage when I'll be earning 7%+. 7% > 3%, not that hard.

[@isaachunt5799]

yep. knowing whatever happens you will never loose your home. we paid ours off in 2017. since then we live like royalty. can buy almost anything we want when we want

[@charlesw1973]

@@hello-nq3ze except now you're paying 7%+ that's hard to beat the investement

[@brad7571]

I paid mine off at 32. It was one of the best decisions I ever made. I don't sweat work - and learning how to save that amount of money was a good lesson in life. People that say that they would rather invest - are usually not investing that amount - that money is usually wasted on toys. You will always need a place to sleep so get it over with, pay it off and move on with life.

[@dpeagles]

👍👍👍👍. They are always broke

[@silaszebedee9331]

I buy 7k of stock per month with my salary. I day trade with margin and made 25k last quarter, but there are taxes on those quarterly gains, so day trading is lame. I don't recommend it unless there are sure trades. Most people lose on day trading.

[@silaszebedee9331]

Owning a house only makes sense if you are not high income and/or have kids. The stock market will crush it if you can put enough in.

[@silaszebedee9331]

You can't out trade a bull run when you are holding hundreds of thousands in a company, plus long-term gains are lower. So, buying a good company with lots of money and holding is the best deal. Day trading is okay, but few are great.

[@TommyBryson]

Loved this video and I agree

[@josephjones836]

Tommy; love your videos man. Love when one content 😌 producer watches another.

[@michaelh7527]

The returns on having a paid off mortgage are more than anything you can make in the market.... If the economy crashes or lose your job. It's nice to tell the family we don't have to worry about foreclosure.

[@rayrayray]

I see you are not a fan of basic math.

[@cerealspiller]

@@rayrayray Show us your "basic math" that includes risks that could destroy your income and/or investments. Ray.

[@kawaiiphase7829]

@@rayrayray not sure why you're bragging about not being able to do basic math yourself. I'd rather not give my bank well over $50K+ in mortgage interest just because I wasn't born to rich parents who could offer to loan me $200K+ interest free. Not everyone has financially stable parents to leech off of.

[@rayrayray]

@@kawaiiphase7829 someone doesn’t understand how to calculate interest and forecasted gains. I suggest maybe taking a basic investing class or highschool level Econ class. 🙂

[@billybeemus3929]

@@rayrayray - What the basic math does not take into account is human nature. Very, very few people have the discipline to stick to the investing plan where it makes sense to keep the mortgage and invest the money that they would have used to pay it off early. Most people would perhaps start investing, but then decide that the extra money would be "better spent" on lease payments for a BMW. The same with people that get a tax refund. If they adjusted their withholding to get that money in their paycheck each week, that small amount would get spent on Starbucks and beer. You may know the math and have the discipline. But the average person retires with well under $100k saved. Going into retirement with a mortgage would be a disaster for them. It is best to pay it off.

[@gingerbreadman1000]

My wife and I did the same for the sole reason of safety net for our family. Same with credit cards and loans. Thank God we did! My wife lost her job due to covid this year and doing the numbers there is no way we could cover our expenses and would likely be homeless. Pay off large debt, save and invest. Free yourselves from the banking system.

[@dpeagles]

Ding ding ding. This is exactly why it's the smart move 🎯

[@kidMclean]

Totally agree with you, I have in the past had things go downhill for me and was running around looking for money to pay my mortgage. Now that I find myself in a position to pay off my mortgage early it was a no brainer. We don't know what will happen to us in the future, so in my opinion pay off your mortgage, you can always invest money you gain from no mortgage

[@rememberthefallen1970]

Paying off my mortgage was the best thing I'd ever done. You don't realize what you can do with 2800 more a month in your pocket

[@misterbanshee7992]

I feel like some people are lucky if they make 2800 a month 😂

[@lulupiink6698]

Is the $2800 only your mortgage amount or does that include taxes & ins?

[@englishwithaltini]

@@lulupiink6698 good question

[@beebeemilo2024]

Wow that’s massive amount of mortgage. My mortgage is €281 per month. With utilities, insurance, TV, internet, community fee, a total €500 all-in.

[@bobmilleit1976]

Meanwhile I make net 2000 a month. Lol

[@withsapphires]

if you dont have a rent or mortgage payment imagine how much you could dump into investments....thats why you pay off mortgage early.

[@geraldenright9845]

I'm turning 60 this year. We own 6 income properties. Yes there was a lot of sacrifice to make that happen. You're on the right path. The freedom from stress, from debt and the Idea that you're not a slave to the banks, is just so soothing and calming. You become more peaceful in yourself when you can channel your energy to things that you choose, not things that debt dictates. I hope many folks are inspired by your story and they too break the bonds of debt.

[@lvsqcsl]

I made the last payment on my house January 29, 2021 and you don't need to tell me why you don't regret it. That sure does free up a considerable amount of money. My investment advisor actually told me NOT to pay off my mortgage because at that point it isn't anything but a "dead" asset. I fired the guy. Great video!

[@DJYFii]

Why would a investment advisor tell you not to pay off your mortgage? 🤔 Is it because he feels you won’t have the money to invest with him do to paying your mortgage off early. 🤔 Yea you did the right thing by firing that guy! 👏🏾💯💯💯

[@lvsqcsl]

@@DJYFii He even said he would miss out on fees and commissions. He's really going to miss out now!

[@jerselicious]

Fired the guy tho😂😂😂

[@tz8662]

That’s why I never hire so called “ advisors “ in my life, because,,,,,, they are a joke.

[@chuheihkg]

​@@tz8662 They want money, so be it.

[@ccvr6]

My house is paid off, as well. And property taxes and overall running costs are low. Excellent peace of mind, WAY more cash to do/buy things I want.

[@anthonyjames4319]

Peace**

[@simplytrading5100]

Ahh yea man when I have to make that choice I’m definitely going to pay it off. Investments aren’t 100% safe but paying off your house is 100% effective

[@tsm3479]

Take a 30 year and hit hard in the beginning. Towards the middle and end you can ease off the extra payments

[@bullet-catcherhohoho250]

I paid of my mortgage as soon as i had the money to do so. This was the only debt i have ever had and am a person who is quite happy to wait until i have the money to buy something. No need to ever be in debt and if something goes wrong and i loose my job then i still have a home.

[@michaelelliott2946]

Exactly! A lot of times when you have to save to buy something that you "think" that you really want you find out when you then have the money you really didn't want it that bad OR it's now much cheaper to buy.

[@gabe1006]

I work for a loan servicing company, and this man is correct for the typical homeowner. At any time you could be facing foreclosure.

[@LISA-rj9df]

My husband and I paid off our mortgage years ago and it's definitely peace of mind.

[@ricci8497]

Honestly, paid off mine years ago yes I could have invested the money but had something happened like losing my job or as happened my work hours got cut then my mortgage would have been unpayable. A nest egg is nice but worrying over debt collectors knocking on the door because you haven't made the mortgage payments is simply by miles worse it leaves you up all night scared to open the mail, answer the phone and gives you sleepless nights.

[@10MinutestoRouletteFortune]

Yup, I agree with JJ!! The best feeling I have was paying off my mortgage. That leaves me $1600 a month for building a nest egg. If for whatever I reason lose my job, I still have a roof over my head and much less stress. If I want to skip putting that money into a nest egg for a month I don't have stress. If I want to use that $1600 for a trip, I take it. That extra $1600 feels like a nice fat raise with much less stress indeed.

[@Adam-ee6lo]

I love your response and hope xrp was a good reason you could do that.. 🎉😂

[@silaszebedee9331]

I buy 7k of stock per month. If you are high income with no kids, going 100% stock market is the best.

[@91326]

The only people who say paying off your mortgage early is not a good idea are the people who can’t afford to do so.

[@fitefeed]

Most people saying not to pay off mortgage early, can’t. Congratulations man!

[@BobSharpe]

Nice job with killing the mortgage! I agree with all of your points and next year I’ll be joining you in that No-Mortgage Club!

[@jjbuckner]

Aye thanks Bob! That’s huge man! It is such a great feeling!

[@dirtydan6098]

I’ve been in this club for 23 years. I live at home with mommy and daddy

[@formula112967]

@@dirtydan6098 that's dirty Dan 🤣

[@Colinsdroneadventures1968]

Paying off my Mortgage was my greatest achievement..I own my own home and nobody can take it away from me..I will sell it when I retire and buy a place by the sea in North Wales.

[@BrianK-zz4fk]

you dont own your house if you cant afford the property tax on it

[@Freddyyyy266]

I have challenged myself to put away 50% of my monthly income into stocks which is quite easy since I live frugal without debt. I work as an account executive, and make over $20000. $10000 goes into dividends, and the other $10000 covers my my food plus living expenses. I am seeing improvements in my portfolio, dividends look certain, but I have to attribute this to only to guidance of a licensed fund manager who allocates funds to a plethora of assets. I have to stay disciplined, and remember that I’m in it for the long term. Just got my first property and hopefully looking to get another down the road. Good luck to everyone and thanks for the great video.

[@Freddyyyy266]

@Joey PerolliniAs I said, it’s the help of an astute trade manager , Herman W Jonas, I’ve gotten into stocks and fx, splitting my funds in different assets that have brought me huge roi. I just reinvest and grow my portfolio at intervals. Here,

[@Freddyyyy266]

Hermanw jonas (a g mal comm

[@LogosandLogic]

When you're a green to investing, it can feel intimidating to research and choose trades and other investments on your own, I felt that way too. But with Sir Herman’s help, I’m doing that effortlessly, with outstanding results.

[@Freddyyyy266]

@Adam HaddadI have made over $47k in profits, more so because I am reinvesting every two weeks. His strategies cuts across major financial markets which cuts across major markets which I found to generate more profit.

[@briandeluca6908]

The stock market is not tax benifital like real estate is. Causing real estate to be far superior

[@InvestToLive]

Good stuff as always. Personal finance, is well, personal! We need to make the decisions that make us feel good and can create a balanced approach to our lives.

[@pwells10]

I paid off my mortgage too. Then quit the job I hated. I make less money than last few years but I have a job I like and don't stress about my monthly expenses.

[@JA070288]

I hit the like and commented. Thanks for the quick answer!

[@perah1016]

Love your short answer!! I’m almost in the same situation as you. I’ll be done in 8 months if all goes as planned

[@brandon2012apikian]

Love your channel bro! I have been wondering about this subject for a while. Exactly what I needed. I just subscribed to dividend income. I pray your main channel will start to pick back up!

[@jjbuckner]

Appreciate that BIG time Brandon! Glad you enjoy the channel.

[@britrobinson78]

Love that you gave the short answer in the beginning. Will continue to watch for the full explanation.

[@davidrknowles9792]

Owning your house outright is a massive burden off your shoulders. We bought outright after saving for it 5y, and it was totally worth it.

[@azdeatherage]

I subscribed. I agree with everything you said

[@Nathan-uo9yf]

Mine is being paid off at the end of the month! 6 years into a 15 year note! It’s been a struggle but worth it 100% My problem with people that say it’s smarter to invest and keep the mortgage is that they don’t..they just keep the mortgage around, invest minimally, and end up wasting away that money on things like cars/toys, and never really invest anyway.. I decided to pay off the mortgage first in a hurry, then I can set my investments where I want them afterwards, and any income on top of that is mine to do as I please. The peace of mind know that you own your house is more comforting to me than watching market numbers go up, or even worse, down, while still making a house payment..

[@rgarri6396]

I paid my home off at age of 30 I’m 69 now with millions and who cares! Live a dept free life and find happiness.

[@Asif24960]

Thanks. This has just gave me the extra boost I needed to pull the trigger on reducing my mortgage term

[@glendasellers9189]

Loved this video. Great info.

[@lilramborambo4399]

I like your way of thinking.... I completely agree with what you did...😉👍💰💰💰

[@GriffinMilks]

Buying the house that made sense financially to begin with is the key to this video. Congrats JJ!

[@fieryjalapenos4442]

So I did the math on my house and compared it to the national average for rent and concluded that what I will spend in 25 years in mortgage payments, taxes and insurance would only have covered about 15.5 years of rent. Rent is going to get crazier and crazier in the next few years and that gap will likely only widen but only time will tell.

[@nitemare1004]

good to hear from both sides, in detail. thank you!

[@gorshunova8891]

Thank u. agree 100%

[@BinaryVoodooDoctor]

The “lower, cheaper home” and having a healthy investments into retirement are both key to making it an “acceptable choice”. I did the same and I find that doing so makes it easier to accept more risk in my retirement accounts. Where I need it.

[@MSB1080]

Most people also forget you can’t stay warm with your apple stock Or stay dry when it rains… paid of our mortgage 21 years early :)

[@SI-lg2vp]

I agree and did this in a little more than 3 years. I worked in an industry where a career can evaporate in an instant. It allow me freedom at work knowing that if I lost a job I could still live in my home without having to go to damage control and sell the house. It allowed years later to pay cash for building a new home without financing. It freed me from playing the credit game and your FICO score. I just pushed more money towards principal payments each month to the point I could feel the pain. I kept a spreadsheet on how I was paying down the balance and how many square feet of the home I owned with each payment. YES its Worth the Effort to own a home debt free.

[@Dbb27]

Kudos! I love the square foot idea! Sweet!

[@mariusciobanu2025]

Thanks for the quick answer, liked the video

[@Coleshill1]

Listen, you don't own " YOUR " home until you pay that last payment ! Hello from England. I paid my mortgage off aged 43 . Today people borrow money for new cars and to look rich. Be sensible , think ahead

[@zion9860]

There’s nothing wrong with paying off your mortgage early.

[@Sonny0276]

Great Video. Thank you for posting.

[@NANA-bt6ws]

Paid off our mortgage early. I had a big career decision and it was easy to do, because I had no mortgage payment. That decision led to 20% increase in pay over 2-3 years. If we had that large mortgage payment, I am not sure I would have taken the job.

[@_ZYELYNE_]

Paid mine off in March 2021 - Not one regret here and I will not regret it over the next 20+ years I would have had left if I just paid the minimum. Yes your house is an asset but its still a liability if you are making a payment on it and if you lost your job or had health issues its just another stressful debt you gotta find money to cover.

[@relevant.c5411]

we dont have 20 yrs. we are in end times now. tribulation beating on the door.

[@sgist7824]

Great video and interesting points. I saw on the Money Guys recently an interesting point re paying off or not. That is age. They say if you're approaching 50 then start paying off the mortgage as part of de risking. I think even part paying it is fine as well as investing, the closer to 50 you are. Sleeping soundly is very important. I'm self employed too, love from the UK 🇬🇧

[@miguel66014]

Thanks for the summary !

[@XBloodAngelX10]

Thank you for your quick answer. Im happy you did. For me its always nice and simple answers are best sometimes.

[@starvinmarvin7964]

The peace of mind having a roof over your head for the rest of your life is definitely worth it. You never know what curve balls life will throw at you, so knowing you will always have a home is priceless.

[@PS-zw4yc]

Definitely seems the way to go. Too bad there is always such high property taxes. Always a bill?”!!

[@starvinmarvin7964]

@@PS-zw4yc Yeah unfortunately we never truly own our homes. Depending on where you live property and school taxes can be pretty expensive too.

[@Dee038]

Congratulations JJ! Just as I was prepared to pay my last chunk payment, my accountant informed me that I would lose my home base LLC tax write offs; I was able to write off my new roof and other expenses and obtained a refund! I agree 💯 about lowering expenses so I PREPAY my utilities, HOA, car insurance, and purchased my used vehicle in cash! My financial surplus and investment portfolio has given me a huge emotional and confidence boost! Wishing everyone financial freedom!

[@Jack-russell103]

You can write off a new roof on the house? If so that’s interesting. I need a new roof

[@ruralangwin]

This makes no sense You can't write off new roof on primary residence in any case.

[@Jack-russell103]

@@ruralangwin well if she’s got an Llc. And a home based business? I don’t know

[@Dee038]

@@ruralangwin The key is to have a tax preparer who understands how to convert everyday living expenses into legitimate business deductible expenses. Maintenance and repairs are included. You may have to do your homework to locate a knowledgeable preparer. Good luck.

[@Dee038]

@@ruralangwin May I recommend the book Get Your Money Back: Tax Deductions You Never Knew About by the brilliant Dr Lynn Richardson

[@miguelh4750]

Subbed great content here !!!!

[@tarzanfan5960]

Thank you!!!

[@rizon72]

My dad paid his off early. I'll say, it was a great thing when he got dementia. Didn't have to worry about some monthly payment, getting those funds, etc. And now that he has passed, don't have to worry about that mortgage or anything like that when we sell the house.

[@ronf28]

People who think it's dumb to pay off their mortgage early have not lived through the 1970 or 80s - Good luck to them thinking "this time is different"

[@dpeagles]

👍👍👍

[@sally26]

GREAT EXPLANATION ‼️

[@torempilor]

Well said, and I agree completely!

[@percent20net]

I notice that most people that give the advice to not pay off the house have never payed off a house, and may the minimum on their mortgage. Being the paid for house gang... it is not worth the stress of a mortgage to keep it around.

[@desert4wheeling209]

I almost didn't care what your answer was, i just want mine to be over asap! But glad to listen all the way through. Thanks for sharing

[@MissMusicObsessor]

Thank you for the short snappy answer

[@eydat]

Thank you for your explanation!

[@onewomanandsomesongs]

Hubby and I paid off our mortgage in 2014. We are both retired now. It was the absolute best decision we ever made. Because of that, we can live mainly off Social Security. We haven't had to touch our retirement accounts yet (other than a home repair, property taxes or a vacation) because we have no debt and our SS income goes much further. Great video.

[@nickdrury8609]

I like these types of videos. I've been paying off my loans aggressively since I graduated College and It's been so worth it.

[@jjbuckner]

You got this!

[@ashtonpatterson1181]

Thank you for the short answer right away.

[@BiondBoom]

This is incredible. Being two years into the journey of getting to financial peace and independence it has already changed my family’s life. The disagreement other people have shown even when I have evidence of how it’s improved our situation was definitely unexpected, but every step closer to independence we get I can see some people start to pay attention a bit more. I can’t imagine not having the “North Star” of financial independence in my life!

[@herlegz6969]

USA folks hate seeing anyone get actual freedom. When you are free of financial enslavement others get very angry for not taking for the propaganda they worship.

[@zachsites906]

Great explanation of your overall financial picture. In my opinion, you can’t put a price on the freedom of having no mortgage. Especially in current times where the government over reach is becoming more and more frequent.

[@JackJackz121]

Good for you man. I'm living in a house that is way too big for my family, even to the point where I wished I'd stay put in my smaller house that had less up keep. My mortgage payments are low, but I'd love to do what you've done and pay my mortgage off early. Congratulations on getting it out the way so young. Best of luck to you for the future.

[@Tlogos47]

Thanks for answering right away, it got me to stick around and like your video

[@jblogic4u]

Do you bro!!! Congrats

[@anniealexander9616]

I paid off my mortgage in 2019! Love being completely debt free!

[@sarahalexa160]

I'm following in your footsteps! I've been making extra mortgage payments for the past year and a half. But I agree, I still max out my retirement and do this in addition to, not instead of, my regular investments. I think it's best to do a little bit of everything.

[@tjones2550]

Make sure the extra payment is going directly to the Principal Payment.

[@jameschaves5723]

👍👍👍

[@myndfulness]

Great explanation-thank you.

[@user-vx3pt5xq9g]

Thank you! for the quick and dirty.. made sure to hit the like

[@wynterhudson2262]

Congratulations on paying off the mortgage! Working towards that goal 🤞🏽 to achieve it in five years or less!

[@jjbuckner]

Thanks Wynter! You got this!!

[@keltig]

Have to totally agree with you on better sleep. I’ve been sleeping great the past couple of months since paying off my mortgage. Knowing that I don’t have to make that mortgage payment every month feels absolutely great.

[@cowboyrolo1]

Great video, I'm going through the same thing right now, my wife and I are paying off our house in the next year while still growing our rental base and other investments. Looking forward to the peace and safety of being mortgage free, thanks for sharing!!!

[@lmuns2507]

@jjbuckner when you paid off your house how much did your credit score drop? just curious because i just paid off my house yesterday and wanted to know your thoughts

[@todddenton1352]

Thank you for this. I have been debating this same thing and I’m leaning the same way. As a family man, it just makes more sense.

[@fieryjalapenos4442]

Statistically speaking paying off and actually owning your home is going to be a better investment long term than anything you can do in the stock market. Yeah plenty of people have gotten filthy rich but I’ve seen plenty lose their asses playing in the market too. Never hear many “never should have bought a house” stories.

[@buck4mt]

@@fieryjalapenos4442 - no offense, but that’s really not good advice. First, statistically the stock market returns way better than any current mortgage rate. Second, after the housing bubble, I heard many people talk about the huge contrast between what they paid for their house and what their house was worth. Many chose to “walk away” from their mortgages because they were underwater on them. There’s risk in everything. Just like saving your money is a risk if you don’t invest it, because inflation will cause your (safe) saved money to go down in value. So, it probably isn’t bad to pay off your mortgage early… but be aware, with current mortgage rates, it is probably financially wiser to take that same money and invest it at a higher interest rate… while also giving you more financial flexibility, more diversification, and lower taxes.

[@bellyhungry]

Great video. I paid off my mortgage 6 months ago at precisely half the time of the original expected 25 years. I heard the same thing: Money is cheap. Should have invested the money where returns are higher than the mortgage rate. Do I regret it? Not a chance. Hell NO. If there's regret, I wish I'd started earlier as I only focus on paying down my mortgage 6 years into home ownership. And nowhere I compromised my standard of living along the way and I am not a frugal person. I just developed better wiser spending habits. Not too many things in life give me peace of mind EVERY single day and being debt free is chief among them.

[@formula112967]

I have made 2 principal payments a month for the last 8 years...I just made my January 2031 payment.....if I can keep it up, I will be done in 7 years, cutting my 30 year loan into 15 years, and saving $60k in interest.

[@geegebre9338]

Great video. Thank you

[@brnmick]

Thank you for answering question in the first minute and offering to hear the rest after. 😎 Thumbed up and stayed through for the whole video