I Just Spent $60,000

[@coolcatcarolena4951]

Smart move. I've been mortgage free with enough emergency liquid for a number of years now and I can say it improved my quality of life exponentially. Everything I do now, (travel, investments) is much more enjoyable because I don't have my mortgage hanging over me. Thanks for sharing!

[@BeatTheBush]

Exponentially!?!? Oh man.. I cant wait! =D I know this mortgage is annoying as heck.

[@daveheel]

how old are you?

[@simonethach7134]

Keep up the good work. Your channel helps me alot. This video is perfect timing. I just completed fully funded my emergency for one year. Now deciding should I focus on paying off mortage or investing. So I decided to do a little of both.

[@drumdad1242]

Good for you! That's quite an accomplishment.

[@coolcatcarolena4951]

Sherwyn Cooper nah. Can't stand Dave Ramsey

[@LillyAnnHouston]

I'm so glad we live on 7 acres. No HOA fees, No nosey neighbors, No mortgage. My heater stopped working last night when it was 17 degrees outside. I was at peace because we had the money saved up for things like this. Having your finances together changes what some call an emergency to just an urgency. This channel has some great advice. We just regret not starting out debt free journey earlier.

[@BeatTheBush]

I think I should do that. Buy land... build my own house.. have a septic tank. Or maybe just fertilize the plants with it.

[@LillyAnnHouston]

The way you're living life. You can do just about anything. Freedom my friend Freedom.

[@daveheel]

you must live out in the country. how far is the nearest doctor and hospital?

[@LillyAnnHouston]

Hospital 15 mins, Dr 25 mins, Starbucks 55 mins, ha!.... That's a good thing.

[@faithsrvtrip8768]

3Birds1Nerd : Smart! I live in an area that has an HOA (it does include mowing the front yard). It is annoying but I have lived next to a neighbor in the past that left his dogs chained up outside and it was not good! I had to get my house painted this summer. I had the cash on hand and was able to find a local painting crew that did a great job for $3K. I wasn't stressed. Why? I had the cash on hand in my emergency fund. Not a problem when you have that money stashed!

[@tpowell3776]

I lived and breathed paying off my mortgage and did it in 3 years....than immediately went out and bought a "fixer" about 20% below market value.....I rented out the original house I paid off....which more than covered the fixer's mortgage...I will pay the fixer off in 5 years.....the passive $$$ coming from renters in the original house will be part of my retirement plans......

[@diylifehacks9278]

T Powell awesome

[@reptilianskin]

That’s great!

[@tuannguyen-yt8ty]

Nice 👍

[@ABCD-si7px]

We are a large homeschooling family with my husband as the bread winner. We use your videos to not only educate ourselves to better our financial standing, but to help our children. We greatly appreciate the time and effort you put into your videos and wanted to humbly say Thank You for your kindness in sharing your skills.

[@william123362]

Thank you Man.i thank God for people like you.

[@ShervinShares]

I just found your channel and now i'm binge watching every video

[@billsojourn5284]

BTB love your videos! You have the right idea, what is the best use of the money coming in. You are wise beyond your years, sir.

[@BeatTheBush]

It really depends on where your priorities are I think. Some people want more risk but I just prefer to hang back and do boring stuff like repaying debts.

[@ND001X]

Unless it means paying off the rest of it in full. Otherwise, people should buy homes in full cash. Mortgages should only be used to house tenants that pay you to live there.

[@tchrisou812]

It's what I do.

[@BeatTheBush]

Ahh that's the way to do it if you can.

[@tchrisou812]

@BeatTheBush I recommend investing in single family 2 or 3 bedrooms single story homes that are about 1200- 1500 sq ft in the Midwest- they can be had for about 60k and pay you about 6-700 mo. net, plus you can create an s-corp to protect you legally and lower your tax rate ($0 federally) or an llc. You wouldn't have to live anywhere near there , just hire a property manager/handyman. After rental 1 is paid off, borrow against it and domino the rents until they are all paid of and repeat, or just collect the money, up to you. Love the videos man!

[@rocketdogticker]

Money well spent

[@TheSilentscope1982]

Right now I pay 1350 a month mortgage and the rates are low. If mortgage rates fluctuate you might have to pay as much as double the interest. I think its a good move to pay your home off. At the end of the day I would prefer to have a home paid off and pay only $2000 in taxes a year, than to keep paying $1350 a month. Other people would say its smarter to invest and make 4% from your money. Pretty easy to quit your job with a $2000 a year tax payment, not so easy at 1350 a month.

[@BeatTheBush]

=D Done and done. =D

[@BeatTheBush]

Exactly. Lowered burn rate is the ticket to early retirement.

[@essennagerry]

BeatTheBush What is "burn rate"? Thanks!

[@seminatarelli434]

im so lucky that i found your channel. Thank you for posting such a good content and giving very good advices.

[@BeatTheBush]

Thanks for your support! =D

[@MelissaBrownapt215]

...but sometimes, its fun stuff too. Stick around. Not always stats.

[@tuannguyen-yt8ty]

Everyone is different, but for me I paid of my house 7 year ago and I only need to come up with tax and insurance that like $150 a month . plus now I only work part time 3 day a week , I paid very low on income tax and no mortgage. So yes you are doing the right thing in my opinion 👍

[@iFindThisFunny]

Now we need that house tour

[@BeatTheBush]

Oooh.. yeah.. so messy still. Working on it.

[@LeilaniLight11709]

The correct grammar is "It's come (not came) back up". I love your well thought out presentations and precise explanations. You are a good teacher. And the flow of your presentation is NOT boring! YAY! Even though your presentations are often process oriented or technical thinking.

[@NevsTechBits]

Keep up with the good, piratical videos Bush! I love your stuff and real world stuff is always good to learn about.

[@shanash1]

Talking finances with a face mask? Priceless!

[@JayBxAoK]

Came for the financial advice, stayed for the DBZ face mask *subscribed*

[@Ruthlessbone]

YOU FOOL! THIS IS ISN'T EVEN MY FINAL FORM!

[@BeatTheBush]

LOL... he says that? =D

[@Ruthlessbone]

BeatTheBush KZbin is and put frieza you're gonna laugh

[@bigdogbob845]

Ruthless, or is it Brainless, do you Ever Make Sense in your Posts ? Put down the pipe and come up for air. Oh, and ALL caps makes it look so much more important.

[@nickslayter5835]

Many people will disagree, but I strongly agree with payign off your mortgage on your personal residence if it is a Single Family Home. With you situation of being self employed and sort of "retired". The stability gives you much more peace of mind. Maybe when you pay it off you can move and turn it into a rental! HOA's suck royally so I feel your pain. It sounds like you are in a good location so I would recommend keeping it indefinitely and just eventually turn it into a paid off rental that is a cashflow beast. Hope this gives you some food for thought! Subscriber Goal 12/100 Finance and Investing focused youtube producer.

[@mr.topcomment814]

Nick Slayter Your low subscriber count is a reflection of your dumb advice.

[@nickslayter5835]

What makes you say that?

[@BeatTheBush]

Yes, that is a definite possibility with the rent prices pretty crazy high. I can probably just live off the rent alone.

[@danedu4519]

I moved out of California, best thing I ever did in my life, my house cost me 52K, 2 bedrooms with basement, everything is way cheaper here.

[@BeatTheBush]

Once you move out though, you probably cant move back in as the price keeps climbing.

[@lewis20002000]

Deoc: where is here?

[@lolipopPrincess]

where!?

[@danedu4519]

@@lolipopPrincessWashington State,

[@ilovethebeach1877]

@@danedu4519 not anywhere near Seattle right? Because Seattle type area is quite expensive.

[@bob15479]

What the heck? When did your channel explode? I've been here since 16k but haven't been paying attention!

[@joeb1522]

@1:38 The IRS will not put a lien on your house for unpaid property taxes. Property taxes are payable to your state or county, not the U.S. Treasury (i.e. IRS).

[@pennysmith5903]

I feel like you are the guy who taught me how to get my contact lenses out of my eyes, no?

[@BeatTheBush]

Yes. I am likely the same guy. That contact lens video is very popular. =D

[@ss4vegeta1]

A bank told me that having a high monthly bill and paying it off can negatively impact ones FICO score. meaning they said its better to have lower monthly transactions than an extravagant one.

[@SuperSurr73]

Thumbnail should of been of you at 14:37 with a photoshopped dragon ball in your hands then saying “I just spent 60k” It would spark a lot more curiosity

[@BeatTheBush]

LOL... Like... LOOK AT ME.. I look ridiculous and I don't care and still spend $60k. HA HA I should change that now?

[@SuperSurr73]

BeatTheBush haha you should!

[@MirrorSound95]

omg i cracked up so hard. you actually put the mask on! absolute mad man

[@BeatTheBush]

=D I see nothing wrong with it. =D

[@JANEYWELL]

Thanks for sharing! All the details are priceless.

[@BeatTheBush]

Thanks!

[@Jamie-zs4yc]

I honestly think that you way over think this stuff. As I think you touched on it in this video, sometimes the most financially rewarding positions aren't the best mentally, and sometimes you make a choice to do things for your own mentality which may not be the best method financially. Like yeah you might have 2.5% interest on your mortgage, and you could pay your mortgage off, or you could use your money to invest and make more than 2.5% but at what cost mentally? Sometimes it's just best to take the hit of the small profit you could earn for a mind that feels free, you can always make more money. In my opinion. It's also really nice to be able to wake up and say you have zero debt, you don't owe anybody anything, and every dollar you make is yours, and every dollar you make increases your net worth, and keep it real simple.

[@sltho]

Jay Cominos agreed. I do lose mental capital when overthinking and its worth more than the savings

[@wewenttoschoolforthis4052]

Jay Cominos says: you’re over thinking it Goes on to write a novel

[@daniellamoreno3616]

Jay Cominos Try reading Dave Ramsey Money makeover.

[@BeatTheBush]

I over think many things and in fact, I beat it to death and do it 5 more times just to make sure I got everything.

[@Jamie-zs4yc]

@We Went To School For This ... Two paragraphs is hardly a novel, but I generally do like to write out a bit more to provoke others opinions and thoughts.. it can make more of a discussion than normal boring KZbin comments.

[@TheRosswise]

Hey man, you realize you could sell your house, move to a cheaper area and basically live like a king right? There are probably cheaper areas closer to you than you think, as well. A LOT of people move to Nevada for the various tax benefits. I know places outside of the major cities of Nevada have pretty low cost of living expenses, as well. You wouldn't be so far away from your family, either. Arizona is also known to be a fairly cheap place to live, as well.

[@BeatTheBush]

Yes. I do know this. =D That is definitely an option but I do enjoy the company of friends and family in the area.

[@silviag3798]

The peas and pod make a great hat! And that mask!!! HA HA HA! I laughed til I cried. BTW, that character is Freeza, Goku's mortal enemy. Pretty awesome.

[@BeatTheBush]

Thanks! I kinda remember him. Only watch Dragonball a few times.

[@silviag3798]

I'm not ashamed to admit I watched it quite a lot, since it used to be on late night TV when I'd come home from work, on the local kids channel. It's not awful.

[@xxDakestMaidenxx]

Houses are overpriced..they cost about 80k to manufacture but real estate agencies charge quadruple that amount it's kind of a scam tbh

[@TheRosswise]

That's why you build your own. Or subcontract it out.

[@weareorigin]

A tiny home company went bankrupt and auctioned (5) 2-room homes that sold for $30,000....yes $30k for all 5 new homes. Whoever bought it got such a good deal.

[@boostedmaniac]

$80k? Geez then I overpaid! It cost me more than that for a room addition.

[@sophiemo7278]

do you know who bought them? I am looking for one

[@weareorigin]

Sorry it was www.westauction.com I am not the buyer

[@financiallyindypendentshow4711]

Great advice as alway my friend... blessings from Indianapolis

[@BeatTheBush]

=D

[@rachelbaziak4159]

Financially Indypendent show Daniel Reyes I PAID OFF MY HOUSE 6 YEARS AGO AND I FEEL SO MUCH LESS STRESS IN MY LIFE, IT FEELS LIKE FEEDOM

[@TWDxKILL3R]

For me, rule 1- don’t have a car payment.... rule 2- get a mortgage as low as you can (don’t get in over your head and be house broke) rule 3- save save save!!!!!!!

[@BeatTheBush]

Those are pretty good ways to go about saving greatly.

[@radosaw4616]

I mean the save save save should be enjoy enjoy enjoy because money comes and goes I used to save everything but now I have changed and I just spend a lot of money

[@TWDxKILL3R]

Rad ... I spend too but I budget.... if I want a vacation I say “ok I’ll save $400 his month instead of $600, and save that $200 a month for a vacation, and at the end of the year I go on vacation

[@radosaw4616]

TWDxKILL3R I mean I travelled a lot for about 5 years which I did pretty much for free for working overseas which was amazing.I do rent at the moment as house prices in London are ridiculous. around 500k for a 2 bed apartment

[@TWDxKILL3R]

Rad ...yikes

[@s977382]

Happy New Year, BTB! Looking forward to new videos in 2018!

[@BeatTheBush]

Happy new year! =D

[@chkanuck]

Nice logic! Sounds like the thoughts that run through my head.. but, bundled up and organized! lol.. nice job!! Thanks!!

[@BeatTheBush]

You're welcome!

[@mrj-charles6383]

I have never had a mortgage but I am looking to buy two houses now and finance them. I hate personal debt so I will take a 15 year mortgage and pay it off in 3 years. My personal residence I paid cash for many years ago. I have a property with a HOA and got in trouble trimming the trees and they wanted to fine me. Will never buy in a HOA community again.

[@7motion985]

Thank you for this video, it was really nice that she sent you a letter and the Gift.... good vibrations.

[@BeatTheBush]

=D Renewed face. =D From Japan even! omg.

[@jessemoore1834]

Great video, 1st time viewer. I wish everyone around me thought like you.

[@BeatTheBush]

=D Thanks and welcome!

[@charles8557]

I highly disagree with this move. Coming from a family of generations of landlords, the 60K is worth a lot more to me in my bank where I can be investing it and making money with it, than in the hands of the bank, just to reduce my mortgage interest payments by a little. Same reason why many of my tenants choose to rent my $2000 per week properties rather than buy their own house - because the capital required to buy a house that expensive is worth a lot more in their hands than $2k a week.

[@cd-ux9ot]

I A G R E E

[@williamsmith3331]

2k per week?

[@charles8557]

William Smith Australian dollars, on a house bought for 3.6 million AUD in 2015, market value approx 6 million AUD now (extreme demand and inflation in this particular suburb). All rent payments go towards paying the interest only mortgage, which is 2400 a week.

[@itsxmay]

Yass! I agree with this completely! I can make hella money with 60k! Do you have houses or apartments?

[@charles8557]

itsxmay A mix of the two, around 75% houses 25% apartments. Some apartments are Airbnbs (more money, zero tax, tons of effort), most properties are permanent rentals (zero effort)

[@Trinity2KOfficial]

So much wisdom. I look up to you man

[@BeatTheBush]

Thanks! Although this reasoning is difficult to verbalize.

[@calvinlee8089]

This was very helpful. I recently bought a house and your video gave me insight what's to come and what are my options.

[@BeatTheBush]

Very very good. =D

[@letspaintnature]

Great tip on the CC payoff regularly. I’m making $40 free each month doing this. Love your channel!

[@BeatTheBush]

Nice! There are other ways to do it without having money go only one way. But then you get into this grey area.

[@rdlmethat2018]

Congrats man!

[@BeatTheBush]

Thanks!

[@bluesaphire5229]

Well done! Congrats you are Mortgage free now and what a wonderful feeling. You ended 2017 with big achievement. Good for you. I'm planning to do the same in 2020 and hopefully, I will start invest then. Cheers and thanks for sharing. Happy 2018.

[@jesuisrobert808]

I bought a duplex while the interest rates were low. I was unfortunate to not get out of PMI with 15% down but I have high payments with tenant help. I was able to lower my monthly payments though with higher risk of maintenance though.

[@jakez3171]

Definitely, a wise decision. Never a bad idea to pay down the mortgage.

[@kedrick71]

Thanks for the motivation

[@UmTheMuse]

Huh. Never thought of this before, but I realized something while watching your video: prepaying your your mortgage is like going short on the interest rate (assuming a fixed-rate mortgage). When you get a fixed-rate mortgage, you're agreeing to a higher interest rate now in order to protect you from rate hikes in the future. That's a good idea if rates really do go up, but bad if rates stay the same or go down. So prepaying, from a financial perspective, is like saying that you no longer think that the rates are going to increase at the end of your loan. Reverse everything I just said if you got a variable rate mortgage. Something to think about.

[@BeatTheBush]

Sure. But I wonder how the banks will like it when the interest rate gets high enough that it makes it unprofitable to pay them back because interest rate in the high yield savings is higher. It could happen.

[@granitemoss1451]

Ah, a fellow math nerd, obsessively calculating how paying down 'x' amount saves 'y' amount in interest each year/month. We made our January '18 payment this week and it brought us down beneath an important benchmark amount. Hoping to kill it off in the next 4.5 years or so! Looking forward to being free of the constraints of a mortgage by my mid-40s. And yes, I keep detailed records on how much extra was paid down each month, the principle/interest split, and I may or may not have a box chart counting down to the big ZERO (one square=$1000 due). I also enjoy the details and calculations of such things.

[@BeatTheBush]

Nice! Do you have to keep records? Wont your mortgage company do this for you?

[@granitemoss1451]

No, I don't have to, and yes, the mortgage company updates it properly each month. I just keep the records for my own knowledge as it motivates me to see exactly where we are in the process, and how sending in the extra keeps the principle/interest ratio sliding nicely in our favor. It's a nerdy kind of fun to look back and see we've overpaid 'x' in the last 6 months, and now pay 'y' less in interest monthly. The amount extra we send in each month fluctuates with my husband's side gig income and OT. We paid off almost $10k extra in '17 (this is on top of our sinking funds, retirement, college savings for kids, a vacation, and some home renovations). We're on track to pay off a 30 year mortgage in under 20.

[@mrsbs7146]

That is fantastic!! Congrats!!

[@productfly]

Great Channel, thanks!

[@joeb1522]

@3:30 With the standard deduction doubling to 24,000 for married filers, most people no longer can deduct their mortgage interest. It's something to consider as your mortgage just got more expensive, and maybe it's worth selling your investments and paying it off now.

[@BeatTheBush]

You can.. just up to $750k of mortgage debt.

[@KacyDaGameNerd]

I did something very similar. So in your scenario, if you still owed about $300,000 at a 3.5% interest rate, then you'd saved about $2,100 annually after you put $60,000 towards your mortgage. I did something similar. But my friends told me I should have just invested that amount in stocks because the returns are better than the money I saved in interest.

[@BeatTheBush]

It's all about risk vs reward. People who enjoy more stability would rather pay down their mortgage.

[@KacyDaGameNerd]

Exactly! My risk tolerance is not as high as it use to be. lol

[@gloriamendez1856]

As we have discuss previously. Paying off your home is a big relief. I work only 8 days out of the month and I know I have to set $400 a month for taxes. Not having a mortgage is AWESOME!

[@BeatTheBush]

I'm working towards it myself. I'm glad you are in the party house already. =D

[@rebeccaramsden4777]

Congratulations! You are such an inspiration

[@BeatTheBush]

Thanks! =D

[@oodleyboo]

Terrific content once again. A few years ago I received a chance to either pay down my mortgage or invest a parcel of money. I decided to invest 80% in stocks that lost their value and the rest went on house repairs. The money disappeared within three years so in hindsight I should've paid down the mortgage. I still regret my decision. I ended up selling my house and buying a townhouses in a cheap neighborhood. This cut my outstanding mortgage in half and I am pleased with that. In Australia we have never been allowed to pay for anything that could potentially gain value by credit card. Example mortgage, super and so on. Now that you are not travelling to work, would you consider downsizing and moving to a cheaper suburb?

[@Modifiedmortal]

Your videos make me smile.

[@jeanwangg]

congratulations! what great news :D

[@lq1044]

BeatTheBush, you and I, we have similar professional background, software engineering. Hence, similar thinking as I watch your videos. I have been a software engineer in SoCal for over 2 decades. Up to about 19 years ago, life of any software engineer had always been great, until one day I got laid off with a mortgage around my neck. I couldn't find a software job until 9 months later. It was supper stressful given the engineering market at the time. Almost every engineer who graduated at that time couldn't find work and their hopes and dreams forever changed. After that time, I vowed never to let this happen again to me. I concentrated on paying off my mortgage. A few years later, I paid off my mortgage. It took me 13 years in all to be mortgage free in a single income family. These days, I don't care much if I have a job or not (still a single income family here). My overall health and happiness are more important than any job. I recently walked out of my awful six-figures-software-job after almost 2 years with no regret. It took me 5 months to find a new job, but I was very happy and content with my life during that time; no stress at all, unlike the first time when my family was jobless. Having your mortgage paid off is priceless!

[@BeatTheBush]

Preaching to the choir here, I agree to all of that. The opportunity cost of the amount need to pay off the mortgage is worth paying it off indeed. People underestimate the risks involved if you lose your job suddenly when it is up to the whims of the economy or how well your company does.

[@julial3758]

Can you please make a video to talk about taxes, about the new tax changes and why people are paying it extra early this year. I'm confused on the changes. I was almost sure that you would have a new video on this. THanks :D

[@Ok-rk9jj]

I have a lawyer and he's cheating me. What should I do. Oh and also my law firm are liars. Should I fire my lie firm and hire another ???

[@kohort1]

I'm new to the home owning thing. I went for a 10/1 arm and did the math comparing it w a 30yr. Worse case scenario, if the variable rate after 10 yrs is maxed and I'm stuck for some reason, I would still break even somewhere in the 13th yr. But I didn't really factor other opportunity costs and tax deductions etc. Plus, obviously if the rates are so bad that I can't refinance after 10 yrs, probably already means that the 30yr fixed is that way I should've gone. What do you think? How would paying down mortgage work in this case? My guess is since my rates are low now I benefit more principle paid down. And it should soften blow after 10 yrs if I don't refinance...but then I'd have less saved to deal w that increase....hmmmm

[@BeatTheBush]

Hmmm... ARM is a gamble. I hate the fact that it's variable. The rate will go up very slowly as the fed is trying to pull it up as much as they can.

[@kohort1]

BeatTheBush yeah..I have 9 more years to figure it out.

[@ashleyashleym2969]

If I was to buy a house, my absolute no go would be that it cannot be under HOA, I refuse to buy a house under HOA. Its way too expensive and way too slave like to have a house under HOA.

[@1982blvd]

Well disciplined with money and looking at the bigger picture of things

[@BeatTheBush]

Hate the mortgage so much.

[@SelftaughtSoftwareEngineer]

Great move! I totally support your decision. We're trying to pay off our mortgage too! :)

[@BeatTheBush]

On my way! =D

[@flordilinagregoire]

please can you talk about health insurance.

[@BeatTheBush]

Indeed, that will be coming up.

[@UrAvgInvestor]

Interesting video! 🤔Might have to rewatch it in the future !

[@Smarterphonesnow]

Good job, there is something about owning a paid for house that makes you appreciate your blessings just a bit more.

[@BeatTheBush]

The cost is immense... sigh.

[@Smarterphonesnow]

It is immense, but if you have a good emergency fund set up first and you are out of debt every where else then it is a good investment. It may not pay as high of an interest rate as the next hot stock. But for me it is so worth it.. When you can take of your shoes and walk across the grass and know that tour walking on your little piece of the planet. It is the greatest of achievements.

[@KevinMcMullen.]

My house is paid off. I do enjoy not having a mortgage. But on the same hand it is alot of dead money..

[@dvran]

To me, it’s not just savings in the interest; it’s the security of knowing your not going to lose your house.

[@babyruth5165]

Every time I watched your blog I also noticed all your smiley balls keep moving also, I guess there are tired to stay in one place. Also Dino, they cannot stay in one place just like my Chiuaua, love it.

[@BeatTheBush]

Yeah... they move lol.

[@JoeKyser]

wait what? what happens when you dont pay property tax?did you say irs might garnish your wages?

[@BeatTheBush]

Very bad things happen, I wouldn't want to find out.

[@JoeKyser]

you got it profit is profit. Sometimes we have to limit our risk when we know we can right? good job man. I like your channel. im always eager to learn and hear success as well

[@belleshear5483]

The mask was actually really good 😂❤️

[@BeatTheBush]

=D =D I could not see what I looked like really while doing the vid, lol.

[@Smorrow77]

i have heard both sides of the argument, i personally believe its better to pay off the mortgage first and once done concentrate on investing, reason i believe this to be the right way is because having a mortgage causes a lot of stress, if the mortgage is done and you dont have to worry about paying rent/mortgage then the mind will be much more relaxed and can concentrate better on other things.

[@BeatTheBush]

Very true. I do feel the stress of it hence the beating down of the mortgage. But then, if you can manage it, there are a bit of gains to be had.

[@pk0179417]

Brainpower/concentration is a resource. Having a mortgage reduces that resource. I believe it's been scientifically proven that people make worse decisions when there are more decisions to make. It is called decision fatigue: en.wikipedia.org/wiki/Decision_fatigue Many people will say that dollar for dollar they will be richer. I will say that dollar for dollar I will be less stressed and happier. I'm happy for you to make that decision. Maybe you can make a follow-up video a few years later on whether you regret paying off mortgage or not.

[@matemahe]

J J isn't rent the same or sometimes more then mortgage?

[@tuannguyen-yt8ty]

sepirocth have a mortgage you have to paid more in tax because you need a higher income to paid the minimum, so if you add your income plus the interest of the loan it more then you invest the money .

[@Smorrow77]

great advice, although i never expected to receive financial advice from Frieza :)

[@BeatTheBush]

LOL... is that his name? =D

[@Smorrow77]

yep, he is actually on dragon ball super now *btw, thxs for the reply, a youtuber thats active in the comments section is 100 times better than a snotty one that does not engage with the community*

[@Jimmy-ph8xn]

I just paid down my mortgage by $23000 to get to 78% LTV and eliminate PMI. Paying this off early by 52 months saves me $5200 in PMI and I believe about $2250 in interest.

[@southbound1969]

BTB, I am mortgage free and it is indeed something that a price can not be put upon. Even if you can make a little more money elsewhere than paying off your mortgage it is worth it.

[@brianstaysfitt401]

You totally changed how I look at money

[@acheng10]

What is the fee fee transfer you are referring to? Where can I get more information?

[@louietheplumber3609]

Good stuff

[@BeatTheBush]

=D

[@Randomconsiderations]

Soooooo glad I don't have an HOA.... It was on my list of requirements to not have an HOA when I bought my home nearly a decade ago. Best decision I of the whole process. My cities zoning rules are enough for what's necessary and then some (in my city, anyhow). Plus HOA requirements regularly contradict city ordinances (example: HOAs requiring well watered lawns when city ordinances are on extreme water restrictions).

[@zork2001]

in the last year i paid over 70,000 on my mortgage 6,00 a month and was able to pay off my now 260,000 home. If nothing else it is nice heaving that piece of mind that you wont go homeless:) it is also nice to be able and take the next steps and have money coming in to think of the next investments.

[@CentsibleLivingWithMoneyMom]

Way to go on paying down your house payment. When would you like to pay off your home?

[@BeatTheBush]

When? Probably soon. I see the light.

[@webbezzy]

I am under assumption that paying some of the mortgage doesn't lower your monthly payment? It only shortens it.

[@powergrower]

Can you talk about how you buy the muni bonds?

[@BeatTheBush]

Go to a brokerage. Look up ticker symbols for muni bonds in your state. They are muni bond FUNDS not the bonds itself.

[@MelissaBrownapt215]

I just found out no one issues "paper" bonds anymore. It"s completely digital. I just googled municipal bonds. Turns out you can buy from any state, but still gotta do your research on performance.

[@cd-ux9ot]

Just know muni bonds are best for people in highest tax bracket or else the tax free benefit is not worth it.

[@powergrower]

I plan to look into it. I pay a lot in taxes so the tax-free benefit is what originally got me interested. As I did more homework on them I realized they can actually be a bit complicated.

[@cornellouis]

My mortgage company asked about the insurance info... I ignored it and nothing happened. I don't know of any mortgage provision that requires me to collection information for their benefit. Do you?

[@BeatTheBush]

Oh yeah? Oh man... I wonder if mine will do the same.

[@katherineiverson8064]

In our area it's so hard to get work or even enough income to afford a house, I'm jealous and it's great you paid off $60,000.

[@BeatTheBush]

It's money I saved up from working.

[@lilyramsey9010]

I have to admit once you put the mask on I was all eyes and ears..! It did something to me psychologically it made me listen more LOL

[@BeatTheBush]

Serious??? LOL!

[@lilyramsey9010]

BeatTheBush Lol yeah I don't know why either.. I guess it's just the whole strangeness of it my eyes became fixated on it and I started listening more clearly LOL

[@lorainemacdonald517]

It's the lips

[@lilyramsey9010]

Loraine Macdonald True! 😀

[@dknyw97]

Would like to ask if you considered using the 60k for a house/apartment downpayment to rent it out

[@JoeKyser]

is there a such thing as selling too early? nah that means you sold on time right?

[@BeatTheBush]

Hmmm... I could have reaped more profits but then heck... profit is profit. I found out BRK bought in sometime after I sold. So then I guess they were thinking it was a really good value stock too. =D

[@978Sin]

Back in June you made a video about taking 22.5% off your mortgage by credit card churning. Did you do this when you paid the 60,000 down?

[@wtfisthis451]

I couldn't take you seriously on those last few minutes, with the frieza mask on!! lo

[@BeatTheBush]

Good thing I left it to the end.

[@i-chiulucero9647]

Good Choice to pay down the mortgage. I thought you bought a new car at the first when I saw the title:)

[@nevermore464]

How do you feel about 20% down on an investment property. Some people say it's not worth it, it's better to keep a good amount in the savings instead, but to me a lower mortgage seems to a more sound option.

[@BeatTheBush]

Yes. Keep a good amount in savings. Note that I still have a good amount in savings. This is over and beyond. I merely converted some securities into the home. Doing this does not allow for a lower mortgage. The mortgage payment stays the same.

[@nevermore464]

BeatTheBush Thanks for the response. I don't think I fully understand. Do you believe holding on to some of that 20% is a better move? And are you saying putting down 20% won't lower my monthly mortgage

[@insanemustaine111]

You said one word in this review that sent chivers down my back: HOA. YIKES! How do you deal with that? lol

[@Cameroner1]

Nothing wrong with shedding risk. I also would pay down the mortgage, you get the weight off your back, get the 3% drain out, and you get a raise in your monthly income by eliminating the monthly payment

[@UliSwag]

What is hoa and why is it bad

[@BeatTheBush]

home owner's association. it's bad when the association is mismanaged and they typically will not use your money as frugally as you would. I.e. triple quotes to minimize cost of something. Instead, it might be prone to buying from someone they know and possible kick backs.

[@homebodyheaven6114]

The closer you get to paying off that mortgage the more you are energized to do it! We paid off our 30 yr mortgage in ten years by paying extra-much of that being from my ebay store profits. By the end we were throwing everything we could at it.

[@BeatTheBush]

WOW WOW WOW!! Ebay store profits into a house? Dang, I'm so happy for you!

[@homebodyheaven6114]

BeatTheBush thanks. Just a couple thousand a month.

[@astroshimmer5072]

Congratulations! Knocking off big recurring expenses is definitely worth it...Now you don't require as high of a monthly income to get by with the SAME standards of living as before. Can't wait until I pay off my car.

[@BeatTheBush]

Actually, paying it down does not lower mortgage payments. It merely lowers interest accrued. Hence, it's does not give the benefit of no payments at all until you pay off the whole thing.

[@astroshimmer5072]

Oh, I thought you were paying the whole rest of the house off. Guess I misunderstood. Oh well, still congrats. :P

[@opiston]

i have been struggling with this question for some time, and I am wondering what your take is on this. If a home owner has extra cash to pay down mortgage monthly, is it better to pay down the mortgage monthly or save the extra cash for several years then refinance?

[@BeatTheBush]

Why would you want to save it in order to refinance? What will you do with the saved money in the mean while?

[@opiston]

I am guessing I can put those money into stock for the time being. It sounds like paying straight into the mortgage is better than saving up to refinance, then why would so many people refinance their mortgage 5 years later instead of just keep paying extra every month? Happy New Year!

[@LOADING...o.o.o]

I pay $2,200 every month toward my student loans. I owned like $45,000. Now I'm almost done paying off. Only $900 left. One more payment. Yayy.