Does It Make Sense To Pay Off My Mortgage?

[@ClarkeGriffiny7]

I paid up all my mortgages in 2yrs while working with a Financial Adviser. I’m 54 and my husband 57 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.

[@Vincent-j8u]

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..

[@RaymondKeen.]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@SandraDave.]

this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@RaymondKeen.]

My CFA ’Sophia Maurine Lanting’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@TinaJames222]

Looked up her name and her website popped up immediately, interesting stuff so far, about to schedule a session with her.

[@MaximilianFischer497]

Trump's policies had been viewed by many experts as more positive for the financials sector, spurring this massive rally. It's enticing to consider purchasing some cryptos and stocks, I'm contemplating investing more than $300k. Thoughts?

[@TicheDebb0]

It seems like there's potential, but caution is warranted. hence I will advice you get yourself a financial advisor that can provide you with entry and exit points

[@RowanBryson]

I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in stocks, which is pretty simple. On my portfolio, which has grown over 90% in a little over a year, my advisor chooses entry and exit orders

[@MarshalWagner457]

Sounds interesting! Please can you leave the info of your lnvestment advisor here? I’m in dire need for one

[@RowanBryson]

Actually it’s a Lady. Yes my go to person is a ‘Diana Casteel Lynch’ So easy and compassionate Lady. You should take a look at her work.

[@henryallard245]

Found her webpage, I wrote her an email and scheduled a call. Hopefully she responds. Thank you.

[@ianmowbray3284]

I am 58 and paid my mortgage off 6 years ago I have never slept better in my entire adult life. Today I go to work for me.

[@mianki100]

Me too. That extra 800$ a month (in the bank, not to the bank) is sweet. Chopped my visa card because I can afford to pay cash now. No visa = no debt.

[@ricedrown]

That is what I want too. Pay off mortgage and have home to return to. I'm not your age yet. But I'm looking forward to payoff

[@Susanhartman.]

Keep in mind that during the 80’s people were encouraged to save due to the interest rates. Right now there’s very little incentive to save because those who are saving are watching those who are reckless taking it in. I’ve been trying to save for a home and it’s been discouraging to watch prices continue to not budge because there’s people willing to get into a mortgage where they’re paying 40% of their income. It’s insane.

[@91ScottieP]

The housing market poses difficulties due to uncertainties about the Federal Reserve's ability to curb inflation and reduce borrowing costs without adversely affecting demand for assets like homes and automobiles.

[@mariaguerrero08]

Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.

[@ThomasChai05]

I've been investing in stocks for a while now, and it's been a significant part of my retirement portfolio. Diversification is key. I've had success with a mix of growth stocks and dividend-paying stocks. However, staying informed and regularly reviewing your portfolio is crucial. Have you considered consulting a financial advisor to help guide your stock investment strategy?

[@mikegarvey17]

@@ThomasChai05This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?

[@ThomasChai05]

My CFA ’Izella Annette Anderson’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@loriparkhurst01]

I paid off my mortgage when i was 40 years of age. I am 53 working 8 days a month. Able to do whatever i want when i want and pay all my bills. Zero stress!

[@BigFishbone1]

How did you get wealth between 40 and 53 to work only 8 hours?

[@AllenPriest-t6z]

@@BigFishbone1 no payments

[@taxicamel]

With next to no information ...this comment is a complete waste of time. Running drugs isn't for everyone. .

[@jamesmcdonough2726]

It would be interesting if you charted the difference in return over the past 13 yrs if instead of paying off your mortgage that same cash had gone on a stock or mutual fund,remember the stress you may have felt was self imposed.I owe about 180k on my house and have the ability to pay my mortgage off,it's at 2.5% and I'm 78 my situation tells me not to pay it off

[@nickt.2825]

​@@jamesmcdonough2726Same here. I'm making more in my investments than if I paid off the house. I'm also not losing sleep because with my pension and SS I can pay all my bills. There's also the possibility of moving to a smaller home in the future.

[@alexsteven.m6414]

Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market

[@antoniaribeiro8073]

True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.

[@NorthCarolinaForward]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.

[@brantheeskimo]

my partner’s been considering going the same route, could you share more info please on the advisor that guides you.

[@NorthCarolinaForward]

REBECCA NASSAR DUNNE is her name. She is regarded as a genius in her area and works for Equity Services inc. She’s quite known in her field, look-her up.

[@vanessahopkins-g5y]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@Millerj2450]

For newbies, be aware that this is a grossly oversimplified scenario. For one thing, you can't get a mortgage on an investment property without at least 25% down payment. Two, it's easy to see comps for house purchase prices, but it takes a lot of research to understand the comps on rent prices. The trick is to find a place where renting is more expensive than buying, but those places are less common because of this very type of scenario. Three, you have to remember that rent number he's using is supposed to be net income, not gross. So you have to think about costs for taxes, insurance, maintenance and vacancy when you're researching investments. All that said, real estate investing is a good tool for wealth accumulation. But it isn't foolproof.

[@lunaezj-e9b]

Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.

[@Taylor_m16]

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

[@AndersonNoah-o6l]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@campelm]

Recently, I have been exploring the possibility of consulting with advisors. As a mature individual, I am in need of guidance, but I am curious to know how truly impactful their services can be?

[@AndersonNoah-o6l]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with “Jessica Lee Horst” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@MichelleAlbrighton]

I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.

[@SoledadUnai]

Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.

[@SlavoPetrovic-n1k]

Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.

[@StalinUndav]

Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@SlavoPetrovic-n1k]

Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@PierreBailey3]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@AddilynTuffin]

We might be more concerned about paying off our mortgage if it were larger (or if our jobs weren't as secure), but right now, investing offers a better return. Bloomberg and other finance media have been documenting stories of people making over 250k in a couple months.

[@AGNESCHANG-u9h]

Invest if you actually want to be wealthy. However, you should get guidance from a financial advisor if you want to create a successful long-term plan.

[@gregorywhem]

You're wasting valuable time when you're trying to clear your mortgage. I'm not the only one who realizes this,I started investing sometime in 2018 and by late 2021, I pulled a profit of over 400% in my portfolio. I was basically just following the guidelines set by the financial advisor I use.

[@NO-TIME170]

Could you share how I can reach out to them? I've recently sold my condo in Alabama and I'm interested in investing in stocks, I'm just seeking proper guidance.

[@gregorywhem]

I've stuck with ‘’Jennifer Leigh Hickman ” for about 6 years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@NO-TIME170]

Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.

[@joelfenner9179]

Just paid off our Mortgage on July 1!

[@marksix3027]

Congratulations. We plan on paying ours off by April 2025.

[@jonfreeman5494]

Congrats!

[@dennisd9554]

👏👏👏

[@georgewagner7787]

Have a wegmans chocolate cake. We did

[@peters.6343]

Paid mine off last June, 9years early!

[@djsausagebiscuits]

Not going to lie I watch every one of these mortgage payoff videos. I'm doing it... but the reminders help me get back to my why.

[@yoursafemoneypeople]

HAve you heard the other side of the story? Have you done the math?

[@flavvsdasilver6442]

@dj Yeah, you become resistant to job loss and medical incapacitation with a paid off home. Imagine recovering in your own home with out fear of the rent or the mortgage due; your housing cost now a fraction.

[@DSA-nj5ej]

Iam 53 my wife is 51 we paid our house off 2 months ago,my attitude has changed at work and in my life. I don't stress work anymore. We have a emergency fund and now looking to invest. My wife's job was very toxic we felt no reason to stay because we live within our means! WE DONT HAVE DEBT! We didn't do it the way Dave said but maintained the principals and still paid it of 4 years early. Thank you Dave and crue!!!!

[@perotal]

You are looking to invest at 53? Wow, good luck.

[@davidbrayshaw3529]

Well done. Great feeling, isn't it.

[@johndone8045]

Weak mind, work stress should not related to your mortgage

[@joesmith3590]

My parent bought multiple homes after 53 not sure why that seems odd to you.

[@marksix3027]

Congratulations. We are planning on having our mortgage paid by April 2025. 30yr paid in 18. I can already see light at the end of the tunnel.

[@NormanGhali]

My wife and I sold made a different choice to sell our house in Florida to move to Texas. I invested some of the money from the sale in the stock market. The portfolio is up 300k this year. I guess she knows the investment is making profit, but we've never really spoken openly about it. It's one of the best choices I made

[@cloudyblaze7916]

Wow, that's a good ROI. You trade or you have been holding all this while?

[@NormanGhali]

Oh no, I don't really trade. Too complex and random for me. I work with a financial advisor.

[@hildeman9533]

I've recently been exploring the option of working with an FA too. Any chance you could recommend who you work with?

[@NormanGhali]

*Marissa Lynn Babula* is the licensed advisor I use. Just research the name. You’ll find necessary details to work with to set up an appointment.

[@albacus2400BC]

Thanks a lot for the recommendation. I'll send her an email and I hope I'm able to connect with her.

[@AidenLiamf7q]

I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024

[@IsabellaAriau2m]

Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.

[@NatalieHannahq3g]

Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.

[@MasonJacobo2w]

I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?

[@NatalieHannahq3g]

My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..

[@MasonJacobo2w]

I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you

[@kasession]

I paid off my house with a severance payment I received. So I was unemployed, but getting unemployment, and living off that as well as savings for a period of time. A job offer came thru, with a cut in salary. As I didn't have any debt, I didn't have a problem accepting the job. The salary was more than enough that I needed to maintain my lifestyle at that time. That was 11 years ago. Still working for this company, and have gotten substantial pay raises. Your mind set does change substantially when you don't have debt.

[@elevate4eva]

Sounds like being illiquid forced you to take the first low-paying job offer you got. Then, you stayed at that same company for a long time. That doesn’t sound very good.

[@kasession]

@@elevate4eva A "cut in salary" doesn't necessarily mean it was a low paying job. I just meant it was less than my previous job. You need to read the whole comment again.

[@jillgott6567]

​@@elevate4eva Home paid off, less stress, better work environment and feeling comfortable sometimes money isn't the key factor when you have a choice in what you do.

[@vitoshacademy]

3:40 - "traditionally we haven't had 2% mortgages" - thumbs up for the guy, really a smart comment there. 🙂

[@DiscoFang]

Yep. The tone of the conversation completely changed with that.

[@ulmen24]

Yep. And Dave tries to say the “if you had it in a mutual fund” argument. Mutual Funds are not GUARANTEED returns like we have with HYSA, CDs, Etc. If they repeat “the largest study of millionaires ever” in 25yrs, you better believe, “I milked my 2% mortgage for as long as possible” is going to be a common denominator

[@john2510]

@@DiscoFangWell, it should have, but Dave isn’t going to say, “Oh, yeah… you’re right. I didn’t think about that.”

[@mikeshaw4610]

I was in a similar situation with a low interest rate and had the money to pay it off but it was making me more money. My wife really wanted to pay it off so we did. It was the correct decision. Even though we had the money just knowing we don’t have a mortgage was worth more than any interest difference.

[@davidbrayshaw3529]

I did exactly the same thing as you. Best thing that I ever did. Aside from the absence of the monthly burden of mortgage repayments, it has ultimately been very rewarding in a financial context.

[@johndone8045]

Sorry but SERIOUSLY your mind is weak

[@littlebob1261]

@@davidbrayshaw3529 Curious, have you checked to verify how much more money you'd have today if you invested and then paid off your home?

[@pauly5502]

What are your property taxes? Dave keeps spewing this trash, thinking it applies to everyone.

[@bryan_witha_whyy]

Having the ability to pay it off and have that grow feels way better than paying it off and losing that momentum.

[@flaviodasilveirapepino6076]

Exactly, being debt free sets free the mind to think in different way.

[@aolvaar8792]

No, my mortgage is $214/mo, my pension is $8K/mo ???? debt free sets free the mind to think in different way???? Just live.

[@Flintlock1776]

@@aolvaar8792 Lol. 214.00 a month? What do you live in? Your used car?

[@aolvaar8792]

@@Flintlock1776 In 2010, I bought an unmarketable Fannie Mae foreclosure for $50K, it sold in 2006 for $250K. Today, $500K

[@jasonrodgers9063]

At 7:23- "Mortgage means "Death Pledge" in French". I'd never heard that before. Painfully, darkly, ironic for me that the loss of my beloved wife 7 years ago and the subsequent life insurance payout from her policy to me was what enabled me to do the early pay-off of the mortgage on our home. I'd give ANYTHING to still have both the mortgage AND her!

[@ericolens3]

my condolences for your loss. to me, life insurance benefits are, at a minimum, the value of a mortgage. this was my idea, as a kid when nice homes were 150k. its still stands true, just get the spouse to split the diff with higher priced mortgages. I say this in response to your spouse passing, due to thats my plan to build property wealth for my family. essentially I'm gonna buy out my moms home. and use her Life insurance to pay for my kids (her grandkids) home. they can then take a small 100k cash out refi as a down payment, while they manage their grandmothers home which will be a rental. Its my silver lining, of me being a trust fund kid and preserving family wealth. the only thing I gotta do is only have 2 kids, so that my home is equity for one child and the rental property is equity for the other child. they can rinse and repeat this each generation. so that only 2 properties are managed. (1 primary resid to one child, 1 rental property to other child). the life insurance pays off the mortgage for one, and the renter pays off the other. JUST DONT EXPECT A RENTER TO PAY IN FULL. idk, its still a work in process in my mind.

[@eljima6036]

bots

[@louis-olivierst-pierre5591]

It doesn't mean that lol

[@thud9797]

​@@louis-olivierst-pierre5591 Look it up

[@BigEMU1]

Millionaires have paid off houses. Paying off the house did not make them a millionaire. Correlation is not causation.

[@NahamMills]

100% agree with this statement. A paid off house doesn't necessarily cause you to become a millionaire. That said, if you have no debt and a paid off house, you are definitely in a hugely better position to save.

[@colovick]

It's not that big of a leap from paying off your house early to investing that house payment into retirement instead. 20 years of 2 grand per month gets you there and that's not counting the value of the house. That's not rich people money, that's middle class kinda money

[@Yoyomanmanholla]

Ramsey is an idiot

[@jarodarmstrong509]

Eh it would be a considerable component of a million dollar net worth in most cases so I'm not sure what you mean. The main correlation is that the wealthy avoid debt generally unless it's leveraging into assets

[@Muchacha2024]

If you have a paid for $400,000 home, you're automatically 40% down the road to net worth millionaire. He's said a bunch of times that for the vast majority of millionaires they studied, a paid for home is what put them into millionaire status. So, according to his research, the paid for home *is* what made them millionaires, not the other way around.

[@Jay-nq2jl]

Paid off mortgage this year at 58…best feeling I’ve ever had

[@uncle_tones1222]

Hopefully I’ll be able to say the same thing when I turn 58, 2 years from now…

[@lisamesillas2328]

I just turned 50 and this is my next goal!!!

[@Churchyyy]

I’m 26 and paid off my 92000 mortgage in 13 months. It’s the best decision I’ve made. I have no mortgage anxiety and the flexibility now to chase my dreams. Thank you Dave for changing my life!

[@LisaSimplified]

Wow! Congratulations!

[@johndone8045]

Oh well, how many 26 makes over 120k annual? Your example does not reflect reality

[@InternetUser._]

92k would buy you a nice porta-potty in my metro area.

[@roguej2]

@@johndone8045this real person’s actual life does not reflect reality? Why? Because you don’t like it or because somehow you’re able to discern the realities of others?

[@reese85]

@@johndone8045who said he was making that much?

[@Azel247]

The "peace of mind" argument is valid, but completely subjective. If having peace of mind means having less debt, then go ahead and pay off your mortgage. No one can really argue otherwise. However, if peace of mind means having your money in liquid investments rather than home equity, then keep your mortgage. No one can argue with that either. Either way, if you are in a position where you can choose to pay off the mortgage, you're in a good financial spot. You can't go wrong either way. I've run dozens of calculations for my own situation and both methods come out pretty close. Now remember, when you run your numbers, it's not a simple $100k invested vs. $100k mortgage paydown. You need to add your mortgage payment to the investments once the mortgage is paid off. Too many people forget to do this and end up with vastly different results

[@Big-Government-Is-The-Problem]

yeah i bet the vast majority of people and even Dave Ramsey viewers just have lifestyle inflation with the extra money they have after paying off a mortgage.

[@Midash2k]

Thanks for exploring both sides of the coin… I like what you said about what gives you peace of mind and how it’s different for different people

[@Thurgor_Supreme]

Just to clarify on your point, if you have $120k invested and $100k mortgage balance, you don't get to count the $20k towards the spread. Alternatively, if you payed off the mortgage, the payments that you used to have would now add to the $20k, but not the $100k you had set aside for spread math. So bottom line, if your spread adds to the $20k faster than your mortgage payment could (not counting property taxes & insurance) then keep the mortgage. If not, then pay the mortgage. If Ramsey was actually a math nerd, this is what he should've been explaining and then he might've actually convinced some people. Instead, he tries to make $400 a month sound like nothing and blabbers on about surveys and "feelings"

[@Carguylogan]

Maybe not likely but if your investments tank or your bank goes under, that money is gone and you still owe on your mortgage. If you pay off your house with your investment liquidity, even if home values plummet (which would only be temporary) the house still has value as a place to live and you dont have to make a payment in case you lose your income. In terms of investment and return its arguable, in terms of human beings that need a place to live and get sick, lose jobs, make mustakes etc, its always better to own a home in full.

[@bryan_witha_whyy]

@@CarguyloganBut if you invest wisely you’ll have liquidity for any job loss situation.

[@percivalgooglyeyes6178]

I'm a multi-millionaire and I didn't get there by NOT considering $400 per month and all the other monthly income and expenses.

[@NomadVMAX]

Exactly. You become a millionaire by optimizing. By taking advantage of things like $400 a month in additional income.

[@bradleymaravalli2851]

I agree. You have to at least consider it.

[@jasonbroom7147]

Two things: Yes, you "consider" it, and how do you like living in CA or NY, with more than 50% of your net worth tied up in an absurdly over-priced home? In places where people are not mortgage-rich and penny-poor, you can become a millionaire with 80 to 90 percent of your wealth being liquid, such that you enjoy life a great deal more.

[@Freshprankstv1]

He’s talking about the stress of debt. This is an anti debt show. If you were to make an anti Dave show u would also say to get a few cars at 6 percent int, buy all your furniture at 5 percent int, construction loan 5 percent, student loan 5 percent, and just about everything else. But hey you’re making 10 percent in the stock market. All these debts flying around your head or peace of mind?

[@mayorrodgers7446]

Yes. Thank you.

[@SDA0271]

Like Dave has been saying for a long time, paying off a mortgage is beyond just the math. Right now I have 17 yrs left on my mortgage, but ran doable numbers to get it paid off in 7 yrs. When my SUV is paid off in under 2yrs, then that money will go further towards the mortgage, probably making it gone in 4 yrs. I'm on the cusp of $1M in IRA / 401k savings, so i'm not hurting there and will continue to max it out every year. Getting rid of that mortgage is my number one priority! It's called piece of mind, less stress and personal security!

[@MooMoo69556]

Heck yea!!

[@matthewsheahan9435]

We are in a similar boat. I feel like as soon as our house is paid off, we could pursue something else or retire early, but would never consider retirement with a mortgage to pay. That being said, we always make sure to get the 401k match and max out my HSA and mine and my wife's Roth IRAs, which is right at 15% of our income. Fortunately, we can take a modest vacation and still have some leftover after that. The remainder could go on the house or in a taxed investment account. Both paths get us to zero debt and our desired net worth. On paper, investing gets us to that point about 8 months sooner, but we feel paying off the house gets us peace of mind and better options knowing we could step away at any time.

[@kbanghart]

​@@matthewsheahan9435I'm just wondering if I should try to find a tiny home with no mortgage, or slightly better home with a payment of $600 - 1000 a month.

[@BigEMU1]

@@SDA0271 Dave’s plan would have you reduce your 401k and IRA contribution down to 15% and put the rest towards the house. Keep doing what you’re doing.

[@jarodarmstrong509]

the best decision I've made in awhile was to pay off our car before we bought our house. Stress level is so much lower without that $400ish a month being a factor

[@Roymysterio]

With a good investment plan that ensures steady income without any doubts I and my wife are prepared for a well organized retirement. I started investing in stocks 2 years ago and so far, I am making a good yield on my dividend. I've learned that getting a good return is very much attainable only if you know your way around it.

[@Donnierra]

Not everyone is as lucky as you are. I want to give it a shot by I'm confused by all the info out there. How are you able to do it?

[@Roymysterio]

Luck is way off the picture. Jonas Herman, a licensed fiduciary is the brain behind my success. I've gotten into a plethora of assets with $31k spread across stocks (options and futures) for the short term and Roth IRA, index funds, cryptocurrency and ETFs, for the long term. Now with over 111k in roi, I sit back and just reinvest at intervals while I handle my other businesses.

[@Brunhild386]

Do not forget that when it comes to the financial market, prices can be erratic, rising and declining quickly, often in relation to companies' policies, which individual investors do not influence.

[@Fleneroy77]

Just turned 44 and have nothing to my name. How can I reach him? I'd like to make better financial decisions if it's not too late.

[@Roymysterio]

Hermanw jonas that’s his gmail okay

[@ruymanbr]

I started following Dave Ramsay channel a couple of months ago and I must say I even had a real life-threatening stress and finantial situation last year,... I decided I wanted to change and eventually found this channel and got myself a actual plan, and started working 50-60... 90% more and sacrificing all the way to get out of debt. I'm not out yet, but I expect to be in less than 1.5 years worst case scenario. Specially, by thinking on how to do it faster I got into a different state of mind and created a better situation for myself in order to do it. Once I do this, I'll try to reach out to the team just to personally thank you for being my final inspiration that made me do this. I'll never get any single debt again, no matter the amount... EVER.

[@Mark-qc5ts]

Good for you, keep going, it's a great feeling when you get rid of it, more time and brain space for real life stuff like family and doing stuff that doesn't cost money.. don't listen to any one who says different, they are financial charlatans, good luck

[@elchavinha14]

80k left on my 4.5% mortgage and I cannot wait to be done

[@Tashas_Travels]

You've got this , it will be done in no time.

[@SRD1281]

@@elchavinha14 Don't rush it. Invest more.

[@ashdobbs]

I owe $250k with a 2.75% rate- in no rush to pay it off. not stressed about it at all. have maybe $650k in equity, I may write a check and pay it off when I retire. maybe not. I'm sure the lender would love to no longer be holding my note with today's rates. plus they make sure tax and insurance are paid. an extra fee I'm glad to pay.

[@TheFattestDad]

Same!

[@papasquat355]

@@ashdobbs It takes me about 3 seconds to pay my taxes and insurance. I would rather keep those extra hundreds or thousands of $$'s than to pay my lender to do 3 seconds of work.

[@msuee96]

I paid my house off first quarter 2021. I cant tell you how much better I feel now. Nothing hangs over my family anymore, besides taxes.

[@deani2431]

….and insurance, and upkeep, and natural disasters, and HOA fees, etc., etc.

[@kevinreichert3254]

I think he has Dave on this one, especially with the comment about mortgages never being at 2%. Dave says there is risk, but you can get T-bills risk free at 5%. I was making payments on my wife’s student loans, but stopped because I was making to much money on interest to make sense. When the interest for the loans turned back on, I payed the remaining 65-70k and had made a few extra thousand in interest. How is that not smarter than paying it off and having no money coming in.

[@nrqed]

The honest answer should be "for people intelligent with money, yes it makes way more sense to not pay off the mortgage and benefit from the extra $400 a month". $400 a month is not a small amount especially if it is invested. It means that the next car will be free and change will be left over.

[@dlinenbe]

Yeah. Stupidest line of logic ive ever seen by this ramsey guy. I have 150k making 5 pct in ten year treasuries and a 150k 10 yr mortgage at 2.75 pct. The fact that im making 2.25 pct more than (ok take out taxes and its less) but it makes my effective mortgage almost like an interest free loan. Who would pay off their house sooner. The peace of mind comes from that i know i could pay off the mortgage but i dont because a low interest rate is an economic goldmine.

[@arthrodea]

I just ran an interest calculator: if you invest $400 a month at Dave’s magic 12% interest rate, assuming 3% inflation, after 20 yrs you have $367,942.94! That’s not small potatoes! If I run the same calculator to invest $400 a month at a more reasonable 8% interest rate, assuming 3% inflation, after 20 yrs you have $229,064.01. Which is also not an insignificant sum.

[@danaconda12]

Yeah but $400 a month is not life changing😝That's a lot of pizza money

[@aolvaar8792]

11.4% annual over 25 years A little unfair I went to cash in 2007 And into foreclosed real estate 2010

[@nrqed]

Very good point.

[@arthrodea]

@@danaconda12 Maybe for Dave! LOL The rest of us would love to have a spare $400 a month. Thats the entire grocery budget for some people.

[@auomi8762]

In this model, you or your significant other could also lose a job and have trouble paying your mortgage. Family member could get sick etc. these models don’t factor in risk. Are you also factoring in inflation and the rise of cost of living across the country? A point the people fail to realize is that the math is always wrong against Dave when trying to decide. To pay off a 3% mortgage or not. The thing that he’s right on is that you just are able to strategize differently when you are debt free and not have to ask Biden and the govt for handouts

[@deariesandrews1529]

We paid off our Mortgage this month as well. Praise God!

[@Gatorguy2000]

On this call $400 a month is considered not worth spit and $5,000 a year is not going to make a difference. On other calls we are praising people if they can just save $400 a month and put it into a magic mutual fund then it’s going to be worth twenty gazillion dollars in the future.

[@jimmymcgill6778]

YEP. Double standard.

[@jerimorgan4114]

The guidance varies with the caller's situation. For someone younger, saving $400 a month over a relatively long time can lead to wealth; it may also be all that is feasible at the time. This caller has strong income, is age 63 and could experience psychological freedom by paying off the mortgage. Paying it off also frees up the monthly payment for investing.

[@fredfinger7092]

The biggest problem with this "analysis" is that Dave is ignoring the future compounding over the next 12 years of the money this caller is pulling out of his investments to pay off his mortgage.

[@joesmith3590]

At 63 saving 400 a month isn’t going to do at lot. No time to grow. At 25 paying off your debt will do everything. It isn’t about the money it is about the logic and what happens after you have no payment. You can change jobs open a business you have freedom.

[@joesmith3590]

The caller is 63.

[@chaoyishih8324]

Just like his credit card surveys, ask millionaire if they build their wealth because they use credit card, the answer is no, but if you ask them if they use credit card, that’s complete different story Should have asked those millionaire if they build their wealth because they paid off their mortgage early, and let’s see the answer

[@voidfroze]

Yup, that “argument” really irritates me haha. I get the point he’s trying to make, but he could make it in a much better way

[@Thurgor_Supreme]

If you have a 2% interest rate mortgage, there is no way in heck your freed up mortgage payments would be more than the money you're making from investing an amount equal to the mortgage balance. I might as well pay off my mortgage and light money on fire every month for amusement, makes just as much sense as Dave's "advice"

[@BG-bx4ey]

​@@Thurgor_SupremeI prefer to actually own my home, because if you don't, the bank can take it from you at any time they wish.

[@Thurgor_Supreme]

@@BG-bx4ey Any time they wish? LOL, not at all. Especially if you're current on your payments

[@jiangpkpful]

As a millionaire who did pay off their low interest mortgage early, I can confirm that it was the right decision and it frees up SO MUCH MORE of your income to dial up on investment. Don't just speculate. Listen to people who've actually done it, my friend.

[@nowmann2821]

2 weeks ago I paid off my house, Today is the first month I don't have to pay anything for a mortgage. I am 39, I was a college drop out, I was laid off more times then I can count, but I never gave up. I'm not rich, but hopefully this is the beginning to when I can just retire and not work so hard anymore because I'm not going to lie I am tired.

[@TerriVess]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit.

[@Donnafrank-k6e]

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

[@TerriVess]

@@Donnafrank-k6e However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.

[@Donnafrank-k6e]

@@TerriVess Oh please I’d love that. Thanks!.

[@TerriVess]

@@Donnafrank-k6e Clementina Abate Russo is her name.

[@TerriVess]

Lookup with her name on the webpage.

[@Dad-979]

We paid our primary mortgage off in January 2020 and paid beach house mortgage off in April 2022, $600k total. We ain’t regretted it, not once.

[@triplebbb291]

You can always get a mortgage, but when you live debt free and understand how that feels, you don’t go back. Love it!

[@siva47931]

Congrats, you lost out on about $200k

[@joesmith3590]

The freedom of no debt is priceless.

[@Dad-979]

@@siva47931 how’s that?

[@charlesliify]

Lol these people with sub 1m net worth splurging 200k on "freedom" while dissing people splurging 100k on cars 😂 pure comedy

[@vjr5261]

Yes it does. We paid ours off in June of 2020 retired early and debt free.

[@SDA0271]

A friend did that very same thing, but in early 2020 just before the pandemic hit. He said it was a total blessing because his income took a big hit with the pandemic for months, but he no longer had that mortgage and no worries about being foreclosed on. Great job to you!

[@sarikagoode1505]

Freedom.

[@SRD1281]

@@vjr5261 If only you had invested in the S&P what you paid your house off with...

[@Tirthmankar15]

It's amazing what you do *Dale Valskov* We need a lot of people with your skills and set who have good intentions and spread love

[@typhoon320i]

haha

[@tivowillieb]

Yeah I've used Dale also. I gave him a penny and he turned it into $100M. It's been great!

[@rayhill5767]

Scam

[@opvideo-d2x]

We have been on a recession since the beginning of 2022, but big media and governments all over the world didn’t want to admit it. We need to be wise and use our brains. Knowledge is power and I’d like all the family to be powerful! Just purchased some *Dale Valskov* Thanks for keeping us informed during this times of doubt?

[@SilentSputnik]

wtf?

[@eljima6036]

@@SilentSputnik bots

[@evalangley3985]

You were not in a recession. Numbers don`t lie...

[@sierra7534]

go away bot

[@marcuswashington461]

I was never really good at math in school..but as an adult not having any payments on stuff feels really good!!

[@tomcarrow]

What we found beneficial with paying off our mortgage is having options, which meant we could invest, travel, entertain, etc a lot more. What we ended up doing was dropping one income and homeschooling, but the point is we had plenty of options with no obligations. It may have made more mathematical sense to invest the difference, but then we would be limited in our options.

[@msparr01]

Started my own side hustle in 2001. I barely qualified for a 15 yr mortgage in 2011 due to child support. Refinanced 2012 at 2.87%. Paid it off in June 2020 during covid hysteria. Was fired 4 months later for opposition to covid hysteria. Side hustle is now full time and living the best life I ever thought possible. My wife and now own 4 homes between us, 3 by default. We never intended to be property owners and only have a very small mortgage on 1 of them.

[@scotchbudmeister9018]

Pay off the mortgage and the equity goes up - as well as your mood.

[@yoursafemoneypeople]

return on equity is 0%. house appreciates or depreciates regardless of how much you paid off...

[@av8rgrip]

2% loan? Hell no! Don’t pay that off. Invest in the market

[@TrekieGal]

We've paid off a mortgage before and I'm not doing it again right now. We've got an under 3% mortgage that is paid entirety with my VA disability each month because we bought smart. The difference that we invest or save is substantial with today's inflation and our family of 7. Enough to allow us to go on a camping vacation every year.

[@Eversolaust]

I'm 40 living in California, and have 5 yrs 4 months to pay off, at 3.25% int, payments are $1,160 on a 15yr loan and adding $500/mo to principal. I cannot tell you how excitied I will be to own a house in my 40's and be debt free. Pay off your debts ASAP is the best advice i can give anyone. Eat ramon noodles if you have to

[@melissab3217]

I just turned 32, and we should be able to pay off our mortgage in a few years. I look forward to that day!

[@Mohit-gurjar2428]

My heart goes to the entire community for *Dale Valskov* building up something even my grandpa can understand. This is so smart by them to launch it to shatter the doubts and fears of the common folk which is not even correct to begin with. Everyone knows the state of inflation and recession now and the way out is already in progress. Now it's just about catching the big fish

[@SilentSputnik]

wtf?

[@eljima6036]

bots

[@ltdzinger]

These fucking bots

[@rayhill5767]

Scam

[@cfoskeeter]

In 2012, I was 54 and my wife and I decided it was time to throw everything we could at our mortgage. We paid it off in about 3 years because like George said near the end, do you want to be 63 with a mortgage. That was my motivation, I didn't want to be paying on a mortgage in retirement.

[@steve.2784]

Paying off the mortgage makes sense if you are older and looking at estate planning. I am sure your heirs would rather receive a paid off house than a house with a mortgage attached to it. Somebody has to keep that house running through the probate period (about a year). This is much easier to do if they are not paying a mortgage.

[@MistDaemon]

You might want to think a bit more about that. Which would you rather get, a paid off property or a property with a loan and more than enough money to pay off the loan? There will be expenses to deal with and unless you have the cash, you could have a serious problem, especially if you don't have enough money to pay the property tax and everything else. I have just had to deal with probate and there was a loan on the property, but a lot of cash in the bank, and once assigned as administrator that money was used to pay the expenses, pay for repairs to make the property sell for a lot more money, etc. Had the money in the bank been used to pay off the property, then there would have been a serious problem and the property would have had to been sold as-is, which would have been a loss of a lot of money, over $100k. Other money was in an IRA, but taking that out would mean a lot of taxes would have had to been paid on it, plus there was a beneficiary for that and NOT part of the estate, which would raise other issues by having to borrow money. Bottom line, money in the bank can be far more useful than a paid off property, especially if you can't get a loan on because it is in probate and there are a lot of expenses to be paid.

[@jeraldbottcher1588]

For me paying off my mortgage early gave me piece of mind. I did not have to worry about a payment getting lost (yes even with electronic payments I had a few get lost by the bank - They found it eventually but until then I would have risked late fees) If I lost my job I did not have to worry about the payments. So on an so forth. My biggest plan was for my mortgage to be paid off BEFORE I retired. As is happened it was paid off 5 years before retiring. Put all of that into my 401k and savings.

[@BharatPurohit-wf2pk]

*Dale Valskov* has the most potential to do more than X10. ETH and BTC will most likely do a X5-X6, but that's fine for me. Gotta look for better entry points while I stake IRIS and PGEN, then wait for Polygen's next raise as I also look at their new partnership with Kenzo Ventures

[@tivowillieb]

Yeah I've used Dale also. I gave him a penny and he turned it into $100M. It's been great!

[@SudheendraKumar-j9f]

Congratulations, *Dale Valskov* I am relieved that you are out there fighting these thugs, We musttake every precaution to protect the elderly and the general public from these despicable con artists. Congratulations to You!! You deserve the Nobel Peace Prize for ensuring our security.

[@SilentSputnik]

????????????

[@eljima6036]

@@SilentSputnik bots

[@tivowillieb]

Yeah I've used Dale also. I gave him a penny and he turned it into $100M. It's been great!

[@bradleygraves5915]

Heroin is amazing, no?

[@andrewlott5886]

400 bucks can definitely make a substantial difference in one's wealth. 400 bucks a month at a 10% rate of return (12% made in mutual funds minus 2% mortgage) is 1,000,000 in 30 years. I'd sleep better knowing math is on my side, but I'm a logical thinker. For emotional people, it's not the worst advice. Just shows personal finance is personal, and Dave's Cookie Cutter advice does not fit every person and every situation, no matter how hard he tries to sell you on it being the best.

[@georgewagner7787]

Except car loan advice. Never do that

[@justinlanglais9825]

Very true !

[@CidHighwindRocks]

12% rate of return based on what? I think the s&p 500 averages 10% I still take your point but at least go with the average or even better conservative and work it out at 7% if you come out on top with a low ball estimate then you really know it's a good idea.

[@MistDaemon]

@@georgewagner7787 same exact thing with a car loan. If you can get a really low interest rate, then it makes cents to get the loan and have your money make more money. If you pay cash for the vehicle, you earn zero interest on it. The money adds up. You can make decisions based on emotions and lose money or you can make decisions based on what makes you the most money. It really is pretty simple.

[@robertthomas9564]

Then what you're saying is everyone who has a paid for home is a fool? They should take out mortgages and put the money into mutual funds to make an extra $100/week on paper. Remember that $5,000/yr is taxable when realized. For a couple in the SS tax torpedo range, that $100/week could easily net out to only $50/week. Then what happens when the stock market crashes? 2007-2009, the S&P 500 lost approximately 50% of its value. Most people don't have the temperament to wait out a crash for 2 -5 years. This is a horrible mindset for building or preserving wealth.

[@richardnewell8478]

A 2% mortgage is low-risk. What is risky is throwing all your spare cash at a mortgage and not having backup savings. I have $300K in my rainy day fund and $50K left on my 2.625% mortgage. I could pay it off tomorrow but I can do better elsewhere. I wouldn't recommend anyone to pay down a sub-4% mortgage, all your doing is throwing potential investment gains away.

[@Mobin-x4t]

I'm literally overwhelmed, You are a blessing to the world. I can't thank you enough *Dale Valskov* for helping me with my account recovery. My prayers will always be with you and your team. Keep it up guys. Love from Maldives. There are many people out there I pray everybody get help.

[@danbgt]

I’m 74. Been retired for 10 years. Paid off the house 14 years ago. My wife and I went through FPU about 18 years ago. And taught it at our local church a few times. One thing I think Dave, kind of, drops the ball on is his advice and guidance for people that have retired. So I will interject something here about paying off your mortgage from a retired persons perspective. If you retire, whether that be by choice or force, and you have a mortgage, there is a likelihood that you will never pay off the mortgage and be debt free. Because when your earned income transitions to being withdrawn from your retirement account(s), you will not be willing to take a big chunk out of it all at once to pay off a big bill. Just my humble opinion. Besides. Retiring and not owing a living soul a single cent is the best feeling you will ever have!

[@robinburrell4421]

The one thing I noticed is that once I paid off my mortgage psychologically it became,e much more comfortable with putting maximum in my 401k and my Roth and my HSA. Probably could have done this anyway but was much less concerned about that money not showing up on my paycheck without a mortgage payment every month.

[@robertthomas9564]

Have you looked into a mega backdoor roth? You can put another $46,000 of post-tax dollars and it converts to roth on the same day. Reach out to your plan adminstrator and ask about it. A large roth balance helps keep your tax bill low in retirement.

[@Semiam1]

I’m for making the money and keeping the 2% mortgage. My only reservation is not leaving mortgage debt to my wife if I die. I want to make it simple for her.

[@raiden031]

Life insurance or pay the mortgage in a lump sum with invested funds once you retire

[@Thewealthwarehousepodcast]

Yeah, life insurance for sure. Honestly, paying off the house kills your monthly cash flow. Where could that money have been working for you?

[@aolvaar8792]

My wife and I each have 2 Fully survivorable Pensions.

[@Dreamer-by4nk]

I see all the homeless folks and at 63, I’m working hard to get my mortgage paid off. Down to 27000 and this is my only debt. When I retire, I want a secured home. I’ve been alone after my second marriage and have worked hard raising my kids alone. If I can do this, any younger folks can too. You have to work hard and know that the only thing holding you back is your self. As a single parent, I’ve been laid off multiple times, and the economy has sucked for us boomers also. Currently, with in 19 yrs, I went from 22,000 a year to 72,000. I don’t have a degree, but I have tons of experience. Come on folks, work hard, invest hard, and get out of debt. No one is going to do it for you.

[@t185bear]

I expect that "being able to pay off my mortgage at any time" and "not having a mortgage anymore" give very similar feelings. So investing that money, knowing you could just pay off the mortgage, is probably better. I have a buddy who cashed in his savings and paid off the last $60,000 on his house (2.5% 15 year mortgage). And six months later he needed a bunch of home repairs ($20k worth) and had to scramble for the cash.

[@andrewcoffey6072]

This is the same $400 a month they are saying is insignificant that if it was $500 they’d say invest that much a month for 30 years and it’s ~$5M. Makes no sense

[@justinlanglais9825]

VERY good point ! 👍🏼

[@MistDaemon]

Actually, it does, but you have to understand it. The plan is to be debt free, not have more than enough money to be able to pay off all your debts. You must follow the plan as that is what is being sold. The fact that doing so costs you money doesn't matter since following the plan is the most important thing, otherwise an empire might fall. Do you understand now?

[@robertthomas9564]

The guy is 63 he doesn't have a 30 year time horizon. This makes no sense for him. He's too old to take any risk with that money he needs to pay the mortgage. That means he can only invest in 5% CDs. So the spread on that is only $2,500yr/$200mnth. But the entire $5,000 income will be taxable because people no longer itemize mortgage interest due to the high standard deductions. If his combined marginal rate is 25% he's only going to clear $100/month If he ends up in the SS tax torpedo($32K-$44K), taxes on that extra $5000K could be as high as 44% federal/ 5% state. In that case, he breaks even or even loses a few bucks!

[@JB-ys8mj]

My wife and I are both retired government workers with high 6 figure pensions that has a built in yearly 3% COLA. I have a 4% mortgage that is my only tax deduction. I pay it using the interest from my tax free TBills. Not everyone is in the same situation

[@candecarro]

But you also argue the “concept” that you you can earn 12% on your investments average, therefore you can safely withdraw 8% annually in retirement. People DON’t average 12%, and 8% is hardly likely to negatively impact your retirement over 30 years. It’s NOT sustainable.

[@jaypeter7446]

I have to agree with Dave on this one. Even before I heard of Dave Ramsey, I always felt that making monthly payments to a bank for whatever reason was not a good thing. My mortgage interest rate is %3, my mortgage payment is less than $400 a month, and I see this as an opportunity to make extra payments and own my house outright.

[@ojg386]

I don’t want to be a Millionaire. I just want to live a life DEBT FREE.

[@demo2382]

Thousandaire here, and I agree!

[@aolvaar8792]

$100K/yr pension >>millionaire status For me

[@mtbokor1969]

Why would you not want to be a millionaire? I understand the part about living debt-free. Regardless of how much total wealth you have. In 2024, $1 million isn’t even that much money.

[@Yogastrong908]

Lots of broke people without debt though.

[@siva47931]

@@ojg386 homeless people are in the same boat

[@pardeepkumar-wd5ts]

I did not believe that after the whole FTX drama there's any good to get this year but *Dale Valskov* proved otherwise. Bad timing maybe but it's a great adoption to get this more to the mainstream and raise awareness. Probably a high contender for a top 100 growth

[@tivowillieb]

Yeah I've used Dale also. I gave him a penny and he turned it into $100M. It's been great!

[@sierra7534]

These bots are getting worse

[@jimroscovius]

We paid more on our house as often as we could, and we paid it off even earlier with a bunch of cash. The feeling is awesome!! Plus, we have a good retirement and we're investing like crazy!!

[@siva47931]

@@jimroscovius is your daughter doing the same thing now?

[@reese85]

How old were you, when you paid it off?

[@koaltech]

My mortgage rate is 1.875%. I am NOT paying it off early...and I have the liquidity to do so, but I also have two college educations to pay for on the horizon, and my money IN THE BANK is making more than double the interest that I'm paying on the mortgage...to say nothing of my investments that are easily making 4x what I'm paying in interest.

[@alinatamashevich3354]

Take that mortgage payment, plug it in a retirement calculator for 15, 20 years at 9% return. Fast forward, your biggest concern will be, golf , tennis or drinks by the pool. Or all 3!

[@davidbrayshaw3529]

I don't understand how people don't get this. I just don't.

[@alinatamashevich3354]

@@davidbrayshaw3529 Math baby! Same way casinos dupe millions!

[@KimberlyManuel-ee3ov]

Paid off our mortgage 5 months ago and it is the best feeling in the world. We feel so free and we are completely debt free. My goal was to pay it off before my husband retired and to be a person who could say, I am mortgage free.

[@RayF6126]

The reasoning is that if you get hurt with a mortgage you lose your house and the investment you put into it. He has 12 years left to be at risk. If you get hurt without a mortgage you pay the taxes out of your retirement. Take it from someone who is going blind at 34.

[@Thurgor_Supreme]

Definitely not taking Dave's advice on this one. My "spread" is about $150/month shy of paying my mortgage anyways, and the amount I have invested on top of the spread almost covers the remainder of my monthly bills. If my kids were out of daycare, I literally wouldn't have to worry about losing my job

[@MistDaemon]

no. If you have the money to pay off the loan, but instead invest it, you can choose to pay off the loan at anytime, assuming that you don't pick a risky investment. If you get hurt, you have a large amount in which you could then choose to pay off the loan, or you can use it for expenses, including making the loan payment. You have more options with the money in the bank earning more than the loan is costing you by quite a bit.

[@dkhnova]

My mortgage rate is 2.75%. I have the mortgage balance and more in a bank (FDIC insured) that's earning 5%, and it was earning 5.3% a while back. The monthly mortgage payment is paid automatically from that account. When the mortgage is paid off, whatever is left over will pay for a treat (vacation, whatever) for my wife and I. I feel no stress about this. (Of course, if the interest rate that the money is earning ever goes below the interest rate on my mortgage, I'll immediately pay off 100% of the remaining mortgage balance.)

[@diwalichavan9716]

Can't deny the fact that *Dale Valskov* is the strongest bet to bring power back to this industry after we suffered FTX, Celsius, Tera and so on. Sure if they fail it's done for good, but I don't see that the biggest tech company in the world would put everything at risk just for that.

[@williamcain3074]

The one thing Dave never mentions is if that money is invested: 1. You can lose money and 2. You pay capital gains tax. So its not truly a 5% spread in this case, its less.

[@L15a5haw]

I’m 💯 debt free Thanks to Dave Love listening to him it keeps me from getting stupid again

[@TurgayYucel-so4tn]

This man spends hundreds of thousands of time just to help us. He helps those in need while also helping us. He always puts a smile on our faces and we should appreciate it. Hats off to Him! I love you dude. Crazy I've never payed attention to the Cynext solution on the internet movement when I say ancestral your a gift to our people

[@mmitchell1727]

They didn’t answer this correctly. People who already have wealth wouldn’t ask this question because they don’t want to pay interest (0% is better than 2%), but 80% of home owners out there have a mortgage and the 0% option is not available. They are wrong on this, investing is better. The mental state comes from having the money to cover your debt and having the power to choose to not use it.

[@thedopplereffect00]

The inflation adjusted interest rate is like -2% (yes negative)

[@dryster123]

Paid off our mortgage when I was 38, that is almost 30 years ago now, we did fine after that and our level of peace was amazing.

[@DhananjayGupta-ig4tk]

📌 TA is all well and good but I find it truly baffling that all major stocks you tubers just look at pure TA and completely Ignore the bigger narrative of why stock Is pumping and why the future outlook might not be as rosy as it seems. Alot has changed and that's about it, but the truth is that I don't even care much about the bull or bear market anymore because *Dale Valskov* covered me while I'm doing comfortable. 2.3 BTC per month

[@Mike137dd-v4r]

I became a millionaire because of hard work, making good decisions, living within our means, and being able to do math. We're still carrying a $75k balance on a 3% mortgage with the home worth $500k. I could pay it off several times over and not miss it but why should I? Believe me, I don't worry about it one bit I sit down to pay my bills along with my .9% car payment. I like using other people's cheap money and keeping mine working for me.

[@marks4471]

Our mortgage is 2.69%.....Not is a rush to pay it off.

[@robertthomas9564]

Get back to us after the next 50% market crash and tell us all how great you're feeling about your house of cards. People with no debt, sleep better and live longer happier lives.

[@ShambhuKumar-pj7mi]

This is a great video I really appreciate the dedication in each video you post, I learn a lot watching your videos and it has always been helpful to me. Building a steady income is quite difficult for newbies.. Thanks to *Dale Valskov* for improving my portfolio. keep up with the good videos.

[@tradupj]

My wife and I are 2 months apart in age, I’ll be 63 in 3 weeks, she will be 63 in 2 months and 3 weeks. Paid off our mortgage at age 59, thought I would never be able to do that, much less before age 60. She has been retired for a year, I’m about a year away. No mortgage = financial freedom.

[@leonvanhaandel3226]

Where does the 7pct come from when a diversified mutual fundportfolio generates 12plus return per Dave. If you use those numbers it's 10k, that pretty good.

[@FurryHippoFinance]

It all depends on your level of commitment and what your financial plan is honestly making 5k extra a year compounding for the 12 years is a decent amount. I am in the same situations today; I have a 2.5% rate with about 15 years left... over the past 3 years I was going to put everything into the home to get the balance down, and I am glad I did not... over the past three years I have made 72% in my portfolio. 😲 To each their own and one size does not fit all financial plans.

[@StlPike2004]

yep, people won't acknowledge the truth here, that your money is much better spent investing a lot, but one could also pay extra toward the mortgage at the same time to pay it off sooner. Now, someone with an 8% mortgage won't feel the same. Crazy that you could have a $1500 payment and theirs on the same house would be like $2,800.

[@xprs1257]

Thanks to watching DR I’ve paid off mortgage car is paid for in cash got zero debt. Worked hard to get to this and I’m never going back.

[@mathematician1234]

Jay, here is another risk-related reason to take your mutual fund money and pay off your mortgage: the P/E ratio on the S&P500 is 28.8; the dividend yield on the S&P500 is 1.3%; and, the Shiller P/E on the S&P500 is 36.1. These are all _extreme_ values, indicating overpriced stocks and a coming decline in the markets. If you knew now that your mutual funds would be worth 20%--35% less two years from now, would you use them to pay off your mortgage now?

[@lepoj]

What does it matter what the market does in two years when it goes up in the long term? If you're no planning on selling your market related assets anytime soon, your reasoning here doesn't matter

[@blanketwodahs6741]

The S&P isn't the only thing to invest in. Money market funds have been returning 5% for over a year now, and they are about as low risk as you get. You can buy literal 10 year treasuries (instead of a fund) that do the same thing, and they will not go down in value if you carry them to term. Though if retirement accounts are fully funded for this year and the next few years, and there is still money left over like this guy has, I would pay down my mortgage as well. Income tax reduction first, then cheap debt.

[@mathematician1234]

​@@lepoj Good points and a good question! Let me add a couple of comments. 1. Studies show that these financial ratios forecast long-term stock market performance. So, it was my mistake to not mention beyond the two- or three-year horizon. 2. The caller's mortgage has only a 12-year horizon. So, he should be thinking about money over that 12 years, in addition to thinking longer term. In the near term, if he has mutual fund money that he thinks is going to make 10% or 12% or 15%, etc., then he needs to consider the risk that it won't. Conditional upon the multiple I quoted, that current risk is very high.

[@mathematician1234]

@@blanketwodahs6741 Very good points. If you think about money market versus paying of the mortgage, then the spread he is capturing is even smaller. Maybe only 3% per year, if he is lucky.

[@artharrison294]

The hardest million to accrue is the first one. Paying off all debts including mortgage makes it easier, and it comes quicker and the snowball effect comes with positive numbers. This caller is in a great position to do well. Multiple income streams and the prospects for even more.

[@FooFan-b3k]

No, it is not an absolute fact that paying off debt makes you wealthier faster.

[@alexm260]

Dave suddenly wants to use 7% rate of return and not 12% to answer this question. Things that make you go “hmmm”.

[@resplendentToad]

Comment i was going to make if i didnt see it first! 😂

[@sweetiespoon5150]

Why would you want to be paying on a mortgage until you're 75 if you could pay it off sooner?

[@bobcantstandzyobitz9778]

Kind of makes sense because when projecting into the future, you'd want to estimate lower returns to factor in unknown risk. However, my rate is 5.5% and I'm not paying my house off because even if my investment returns just match 5.5%, over time, the amount of interest paid on the mortgage lowers, while the amount made on the investment interest increases. So, the payout verses the income diverge through time. Hopefully, there just isn't some massive economic catastrophe. To this point in time, the investment advisors I use has averaged over 12% per year over the last 25 years after fees are factored.

[@alexm260]

@@sweetiespoon5150The opportunity cost of paying off a low interest mortgage can easily amount to hundreds of thousands of dollars. That’s why.

[@resplendentToad]

@@sweetiespoon5150 they make $140k per year and sounds like they can afford the mortgage. However if they want to stop working, then cutting an expense like the mortgage is worth it to me.

[@davidg6588]

I agree with Dave that having zero debt does change the way I approach my work and my life! At age 62, I am a first generation millionaire who still works simply because I like my job!! And as Dave has emphatically stated many times, my wealth comes from 2 sources - retirement savings and a paid off mortgage!!!

[@Themoomabides]

Dave just lets George sit there and nod…like a boss.

[@jeffb.4800]

They really need to let George go.

[@Themoomabides]

@@ziggywalsh5562who is Oscar?

[@joesmith3590]

The problem is t that he can’t get along it is that his advice is bad and he can’t do math. Not sure any other host would have told the 86 year old to go to work lol.

[@maximumachievement361]

@4:10 very strong takeaway. Zero debt gives you more power and respect when dealing with other people since you are not dependent on them. It also gives you more confidence by strengthening your emotional armor enough to stabilize your relationships with yourself and others. That means no anxiety going to bed or in the middle of the night. Who wouldn’t want to live like that?

[@raymond_sycamore]

What is the monthly payment on the 2% loan? How would you otherwise use that money every month? Shouldn't that go into the calculation?

[@MistDaemon]

Nope. If you owe $100k and have $100k in the bank, you can use the additional money for other things. You can use the $100k in the bank to pay the monthly payment, which will then reduce the interest that you get, but you still have more money in the end.

[@karenjensen2345]

My husband retired and I am still working but we decided to move from MN to FL to set us up for a retirement lifestyle and I can work from home but I insisted on having no mortgage no matter how small our house had to be. We bought a new 1500sq foot home for 186k for cash and now it is worth 300k but we don't care. We feel free. We also have one car rather than 2! And we have 750k in investments 😅I think we are doing fine.

[@livingunashamed4869]

Is he still working? He's making 140k a year?? Not bad at 63.

[@reese85]

$140k household income at 63 is not bad? Maybe my standards are too high

[@xander6051]

@@reese85 What would you say is a normal household income at 63?

[@reese85]

@@xander6051 he said household, so I’m assuming more than one income. So let’s divide that $140k by 2, that’s only $70k a piece at 63. Yall think that’s good?

[@ChaosAOE]

​@reese85 Pretty sure that's right round median income lol. Also he said 'household' and later clarified it's because he gets a pension as well. You're weird bro.

[@reese85]

@chaosAOE don’t matter if it’s the median income or not and I don’t think thats the median income for that age group and regardless he if gets a pension or not. It’s still his income and there would be no need to say household vs my income “assuming” it’s more than one person and I’m weird for saying $140k at 63 is kinda low? Again maybe my standards are too high or y’all’s are too low 🤷🏽‍♂️

[@xgravyboatx]

People who say $400 a month is spit, can I have $400 a month? Having the cash sit in a safe account earning 5% when you mortgage is 2% have no risk. You can pay it off any time. The argument to take a loan today to invest is moot, you cant get a 2% loan, and when mortgages were 2% you couldn't get 5% CDs or bonds. I prefer to have the options that cash has over just storing value in wood and concrete and dirt.

[@ExcitedIsoscelesTriangle-ot4rk]

$400 is not a lot of money but have yourself a garage sale to make $50 to pay off debt ... yeah ok

[@projectself899]

$400 is a lot to me.

[@sgbawg0]

I've wrestled with this question for yeears. I'm in the same situation... here's what it boils down to: Liquidity. So what I can pay off my mortgage. My money is worth more to me liquid vs equity in a house. If I pay off my house, and someting bad happens and I need access to a large sum of cash quickly, I'd have to take out a home equity loan.. you get hit with fees and a much higher rate. Whatever your house is "worth" is NEVER what you're going to get it you sell it. A home market crash can destroy your equity. Best case scenario - if you sell at market prices, you're going to have to eat a decent portion of cash in Real Estate broker fees. Furthermore.... the moment you pay off your home you become a target of scammers and deed fraud. DOn't have to worry about that if you have a mortgage. Beside why do anything with your own money when you can do it using someone elses money at a rate sveral points lowever than your investment returns. Last but not least... you pay off your mortgage... so what? Every month you still have to pay property taxes and insurance. How TF is that free'ing?

[@MistDaemon]

Right, but you "feel" good by not having debt. I completely agree with you, but others are not seeing the whole picture.