Life After the Mortgage is Paid Off

[@MarriageKidsandMoney]

Want to see how we paid off our $200k mortgage in less than 5 years? Click here: kzbin.info/www/bejne/pIG7iXuKgq2frqM

[@havenpersonalcare7968]

My wife and two kids just walk into Wells Fargo yesterday 05/28/21; and made our last pay-off into our mortgage; awesome feeling. Reality hasn't set, however....

[@MarriageKidsandMoney]

YES! Congratulations! You are going to love it! Please contact me if you’d like to share your story on my podcast / channel. It’ll inspire others to achieve mortgage freedom as well Marriagekidsandmoney.com/contact

[@dreamchaser5758]

Congratulations on your hard earned achievement! 🎯🎊🎉

[@michaelh5055]

Paying off your mortgage is an investment in yourself. The piece of mind is itself a massive rate of return.

[@MarriageKidsandMoney]

Couldn’t have said it better myself

[@PerfectionHangover]

A paid off mortgage is freedom goals!!! Congrats!!

[@MarriageKidsandMoney]

Thank you! We’re digging this chill lifestyle

[@abc123abc99]

Paid for home, new kitchen, new used car with cash, vacations, giving, growing business: Y'all are crushing it! Thanks for the inspiration!

[@MarriageKidsandMoney]

I have a great partner! Thank you for your support!

[@staceyloulouse]

I never had a mortgage, but I'm taking the leap of building my home debt-free. I loved hearing about your journey! Thanks for sharing.

[@MarriageKidsandMoney]

Incredible! Good luck with the build. That's going to be a great journey.

[@jayc4715]

Even better!👍 mortgages = ripoff

[@georgewilliams8357]

My Dad and I just paid off our house this year. And it only took us less than 30 years to pay off the debt, which was 27 years early. And my Dad and I are officially debt free, but most of all I'm crying tears of joy too 😂!!! So I say shine sweet freedom, shine your light on me 😂!!!

[@MarriageKidsandMoney]

That is incredible! What a feeling!

[@dbcooper692]

Last week I just wired $$$ to pay off my eleven-year-old mortgage!! Between S.O.S. and my Teamster Pension, I have $65,000 $$$ coming in. My medical costs me $100.00 a month and I have no debt. No car payments no credit card debt and I am so relieved. I still have plenty of $$ in the bank. At age 68 I have never been debt-free!!! Oh, what a good feeling!!!

[@MarriageKidsandMoney]

Wow! You’ve set yourself up well good sir! I hope to be comfortable like that when I’m your age. Thank you for motivating me!

[@planeguy95]

I feel extremely lucky to be purchasing my first house in cash at 27. I will be making a commitment from this point on to clear my other debt and live debt-free for the rest of my life

[@MarriageKidsandMoney]

Congratulations on your first home! Your commitment is incredible. Best wishes on your journey!

[@planeguy95]

@@MarriageKidsandMoney 🙏🏼

[@damondeluca]

Great video, love your enthusiasm. Definitely appreciated your segment on charities... food for thought!

[@MarriageKidsandMoney]

Thank you for watching and supporting our small family biz!

[@sarahalexa160]

I'm on my way to this goal! About 2-4 years left, depending on how aggressive I can be. Looking forward to experiencing the freedom you described.

[@MarriageKidsandMoney]

Way to go Sarah! 2-4 years of hard work and decades of enjoyment ❤️ Let me know if you have any questions along the way!

[@jamescares9003]

Wired my loan balance to and paid my loan off today, feels great

[@MarriageKidsandMoney]

That's awesome news!! Congratulations!!

[@khoimavlogs5161]

I just paid off my mortgage June 24, 2024. The best feeling I ever had lol.

[@MarriageKidsandMoney]

Way to go! True homeownership!

[@khoimavlogs5161]

@@MarriageKidsandMoney Thank You I felt like 100 lbs off my shoulders lol.

[@yasminogbu8929]

This is soo inspiring ! Thank you for sharing & being so open! You’ve also made the video easy to listen to, as you have great energy speaking about it! I’m 76k away from being Mortage debt free .. watching this makes me stay motivated ! Thank you

[@MarriageKidsandMoney]

I'm so glad to hear this! Be sure to come back and celebrate with us! Us mortgage free folks need to stick together :)

[@yasminogbu8929]

Absolutely! Many thanks

[@frankdesantiago8417]

I just paid off our mortgage of 102k! Thank the lord. Household income is 100k. Wife and I have no other debt and no children at the moment. Our monthly expenses are 1500. This should leave us with 70k in income to invest/save (after taxes). Age 23 and 22. Where would you invest if you were in my shoes? I am looking into buy and hold rentals and dividend paying stocks. I am looking for the most optimal plan for early retirement. I am a huge fan of paying off your mortgage early. I appreciate your advice! -Frank

[@MarriageKidsandMoney]

What a great position you’re in Frank! If I were you, I’d optimize investments by utilizing tax advantaged retirement vehicles like the 401k, Roth IRA and HSA (if available to you). This will help you have a comfortable retirement AND help you save on taxes. Low cost stock Index funds are a great place to start. After that, save up for your first rental property and grow your portfolio!

[@frankdesantiago8417]

@@MarriageKidsandMoney thank you for your reply sir! Have a great day.

[@buildingbuildercip8292]

I was fortunate enough to pay off my mortgage years ago… I had purchased a few rental properties shortly after, and have since then…paid them all off as well. Once you pay off your mortgage, and have a high earning job…everything is on hyper speed and the wealth just snowballed. I would say that it was life changing. I grew up poor, and I think that was what motivated me the most. No food, power and cold showers from the neighbors water hose sucked.

[@MarriageKidsandMoney]

You took your current station in life and changed it for the better. Incredible!

[@sarahphillips8884]

So exciting! My husband and I bought a house in our mid twenties on the west coast. We plan to sell in a few years move to a cheaper area and pay cash!

[@MarriageKidsandMoney]

That is awesome!

[@TheSavvyCouple]

Always an inspiration Andy! Loving these videos about living debt-free and truly living a life of FREEDOM!

[@MarriageKidsandMoney]

Thank you for the support! This is fun :)

[@Misaka-gt5yj]

I wouldn't consider all that hefty property tax "freedom"

[@pbnathan]

Congratulations on paying off your mortgage, Andy! I became aquatinted with your channel from when you appeared as a guest on "His and Her Money" channel and have enjoyed watching your videos since. I'd struggled with determining whether to payoff my mortgage vs. investing a couple of years ago and eventually decided to choose the latter; though I won't reach my goal of being mortgage free for some time, your videos (and others in that vein) help me not lose sight of that. My best wishes for your channel to grow by leaps and bounds this year and after. 👍🏼

[@MarriageKidsandMoney]

Wow! Tai and Talaat are rockstars and I’m so glad I was invited on their show. I really appreciate the kind words and wish you the best of luck on your journey. Only YOU know the best path for YOU.

[@1drummer172]

Congratulations to you and your family! Thank you for the charitable giving ideas.

[@MarriageKidsandMoney]

Thank you! I’m so glad you enjoyed the charitable giving ideas.

[@janefromthecountry1820]

Hi Andy, would you and Nicole ever do a kitchen tour since you did a remodel? It looks beautiful! Is your home a two story or a ranch with a walk out? You and your wife are so inspiring with your achievements. Thank you. ❤🏠

[@MarriageKidsandMoney]

Great idea! Our home is what’s called a “tri-plex” ranch style. We love it. There aren’t many stairs needed to go up and down so it feels very open and not separated. It’s about 2,700 square feet. Thank you for your support Jane!!

[@Martindaskomedia]

That's amazing. I would likely focus on purchasing investment properties.

[@MarriageKidsandMoney]

That's where our minds went right away too. With our two little kids, we are nervous about real estate investing taking too much of our time. Right now, we're investing in REITs so we're "in the real estate game" ... just very passively.

[@stephen6262]

Great video you done great. I paid off my mortgage at about 47 years felt happy. But after a couple of years bought 2 buy to let's and a house in Spain so from zero debt to 250000 debt. Debt next month down to 80000 in 5 years. I'm going to be in a great position hopefully in a couple of years. I've had 5 years of being stressed. I was so much happier plodding along with no morgage. And I could have invested loads into isas and pension instead

[@MarriageKidsandMoney]

Thank you for sharing Stephen. It sounds like you understand what works best for you based on lived experience. I wish you the best of luck in crushing your debt once again!

[@superdutyohv3401]

Looks a lot like a house I lived in when I was in Boulder in Martin acres!

[@MarriageKidsandMoney]

Aw man, Boulder is beautiful!

[@lawrenceporter3723]

Great video, we used to live in Michigan but moved to Philly for work. Sure do miss the lower cost of living there

[@MarriageKidsandMoney]

Thanks for watching Lawrence. Yeah, I hear you on the cost of living change. That can make a big difference

[@octaviogil54]

👍🏾 on it. Love the 10% giving ratio distribution

[@MarriageKidsandMoney]

We’re enjoying it! Giving to those close to us too is fun.

[@teresao3971]

Thanks !

[@wigum12]

half way there!! bought just b4 pandemic and the red hot housing market!! we are on track to be mortgage free by this time next year

[@MarriageKidsandMoney]

That's incredible! Come back and let us know when you pay it off. I'd love to interview you so you can share your victory and inspire others!

[@mlbmachine99]

Great video Andy - love the vision you're casting for other folks!

[@MarriageKidsandMoney]

Thank you Chris! I'm glad you're enjoying the videos because I love producing them.

[@DavidRamseyIII]

A bit late but a sincere congratulations on paying your house off mate. Well done PS you have a beautiful family!

[@MarriageKidsandMoney]

Thank you so much Jacob! I'm a lucky guy. My wife is the best thing that's ever happened to me.

[@BeerBikes]

Good stuff as always and that Acura is pretty fancy! I forget, i think you've done one already but maybe a short video on staying motivated in paying off mortgage would be nice. Thanks

[@MarriageKidsandMoney]

Great video idea! And thanks for your support!

[@harrypicciuto9628]

Let me ask you a question. You obviously make wise financial decisions. I am paying off my home this month (very excited)! Did you finance the "new to you" car. If not how do you feel about financing after being morgage free?

[@MarriageKidsandMoney]

We did not finance our car and instead bought it in cash from Vroom. We've been enjoying it for years now and prepping for a family road trip soon! Personally, I prefer the no payment lifestyle as it gives us more flexibility, but to each their own.

[@keekee8760]

Great video

[@MarriageKidsandMoney]

Thank you so much!

[@bbser]

I am aggressively paying down my one year old refinance (15 yr fixed at 2.875% down from a 30 yr fixed at 4.25%). Monthly mortgage payment is $1327. I'm adding $917 to principle so my monthly = $2244. In 6 years (June '28) I'll be paid off and save $17000 in interest. I got the annual escrow adjustment notice yesterday that my property tax will be going up an additional $75 per month. I don't ever really expect my property tax bill to go down so if I add up the numbers - by June 2028 I'll be paying over $800 per month in continuing insurance and taxes from $352 today. Maybe I'm being assy but $800+ is like starting with a whole new mortgage. I guess I just won't be as celebratory as I thought I'd be. Regardless, I'm busting ass to get there...

[@MarriageKidsandMoney]

You are not being assy… the growing property tax bill in our neighborhood is very frustrating too. We’re working on a taxable brokerage account that will cover the taxes and insurance so we can ZERO home costs

[@BrokeMillionaire1]

Good stuff right here!

[@MarriageKidsandMoney]

Thank you!!

[@BrokeMillionaire1]

@@MarriageKidsandMoney 💪🏾💪🏾💪🏾

[@khorikai]

Nice video, new subbie here! Congratulations on paying off your mortgage!

[@MarriageKidsandMoney]

Thank you! I appreciate your support!

[@DK-et6lm]

you remind me of the present day Mr. Rodgers. But it is exciting to pay off house. I am getting close and look forward to smiling like you....

[@MarriageKidsandMoney]

Fred Rodgers was an incredible man. I appreciate that compliment. (I’ll work on my cardigan game in my next video 🤣)

[@theodortostado8200]

Thanks for this

[@MarriageKidsandMoney]

Thank you for watching!

[@mistymorris8387]

Great job

[@MarriageKidsandMoney]

Thank you!

[@MarriageKidsandMoney]

What would life after the mortgage is paid off look like for you?

[@richardtaylor9798]

It would look like those tv commercials you see around Christmas time. The one where a husband is leading his wife, with her eyes closed to the driveway and there sits a brand new car with a big ribbon on it.

[@NaturallyKristen86]

Peace of Mind!!!!

[@MarriageKidsandMoney]

@@richardtaylor9798 What a cool gift!

[@MarriageKidsandMoney]

@@NaturallyKristen86 You said it!

[@livelaughlove4635]

Definitely more vacations. ✈️

[@sarahshanahan2222]

Cheers💗💗💗 this is incredible. I am trying to turn my 30 year into a 15 yr... hoping maybe quicker?

[@MarriageKidsandMoney]

You got this! Mortgage freedom is the best :)

[@sarahshanahan2222]

@@MarriageKidsandMoney Thanks so much! My financial advisor told me that if I invested the $$ I'd be better off in the long run... My mortgage is 766/month... 10k a year freed up.. I could travel.

[@MarriageKidsandMoney]

@@sarahshanahan2222 Your financial advisor is not wrong that investing over the long run will net you more money. This all depends on what your goals are ... more freedom sooner or later. I believe there's room for both investing and paying off the mortgage early!

[@leomega]

Great video brother

[@MarriageKidsandMoney]

Thank you Leonardo!

[@alphamelvin9711]

The thought of sending my son off to college in a few years makes me sick. Our universities are in bad shape right now

[@MarriageKidsandMoney]

It's a tough decision for sure. Best of luck!

[@deehope6186]

I would definatly slow down and eventually retire,give more and yes TRAVEL

[@MarriageKidsandMoney]

Oh yeah, I hear that!

[@clintsheehan2535]

Great video 🙏😃

[@MarriageKidsandMoney]

Thank you so much Clint!

[@planaheadstayahead]

What company gave 15% match? That's incredible

[@alialimjan2406]

Same question. I worked at university only having 9% match

[@DK-et6lm]

3 % here...15 is incredible..

[@MarriageKidsandMoney]

I’ll clarify! My company matched 15% of my contributions … so if I contributed $10,000 per year, they would contribute $1,500 on top

[@mariadelcarmenrodriguezaco9861]

Great video! New sub here 👋🏻 I am very tempted to pay the house. But everyone tells me that it is a waste of money and that by investing we would earn more 😭 I don't know what to do. I am afraid of choosing wrong.

[@MarriageKidsandMoney]

To the best of your ability, why not both? There is a potential that you can make a lot more money in the stock market or through investing in real estate. On the other hand, you may feel a lot more relief in your life without a mortgage. Can you invest for your retirement with a 401k and / or IRA and then use any extra to pay down you mortgage?

[@mariadelcarmenrodriguezaco9861]

Thanks for answering 🤗😍 we are already maxing out our 401k and Roth IRA equivalents (we are from Canada 🙂) we are building our 6month emergency fond now and we have still a substantial amount still left... we really don’t know what to do ☹️ only debt is the house ( yes I know 1st world problems)

[@MarriageKidsandMoney]

@@mariadelcarmenrodriguezaco9861 you are in a prime position for paying off your mortgage early then. Without a mortgage, your options open up (ie working less, more vacations, giving more, etc)

[@victorl6224]

You might be able to earn more by investing, until you don’t. Go back to the dot com bubble, the banking crisis, etc. You won’t know when another one will come, and one will. Do you want to still have a big monthly mortgage payment to deal with when your portfolio drops 50% and you might have lost your job? Don’t let greed push you into the wrong decision. More Risk does not always equal more reward.

[@pedroaquezada]

Paying off your house will never be a waste of money.

[@fififinance7469]

Good research for me 😍

[@MarriageKidsandMoney]

Woo hoo!

[@daltonh6303]

I got into an argument with a friend, who is a real estate agent, about why I believe, like you, that it is beneficial to pay off your mortgage in certain situations. I think many real estate agents, like my friend, believe that a person should ALWAYS carry a mortgage. They make that old argument that it is "good" debt, you can invest in the market for a higher return that your mortgage interest blah, blah, blah. My friend (maybe soon to be ex-friend Lol)even recommends people get 30yr mortgages.....

[@MarriageKidsandMoney]

I don’t think your friend is wrong. And I also don’t think you’re wrong. Everyone has different motivations and values… yours are different than your friends. Personal finance is just that … it’s personal

[@daltonh6303]

@@MarriageKidsandMoney I don't think I explained myself clearly. Yes, paying off a mortgage early depends on a person's situation. However, my friend's argument is that a person should NEVER pay off a mortgage early because mathmatically it never makes sense. My argument is that you also have to factor in things like risk, etc. I am not saying everyone should pay off their mortgage early but people like real estate agents, financial advisors, etc are so biased towards never paying off a mortgage early.

[@MarriageKidsandMoney]

@@daltonh6303 I see what you mean ... it can be in a person's (business) interest to never see someone pay off their mortgage (financial advisors, mortgage brokers, etc). Obviously, I'm a big fan of mortgage freedom because of what it has done for our family and the options it has provided. There are pros and cons to paying off your mortgage early too. I go over a few of the cons here: kzbin.info/www/bejne/o4e0eZSIdtqihck

[@donaldlyons17]

@@MarriageKidsandMoney Paying off a mortgage provided options..... You sure your six figure income did not provide better options? I can't speak for everyone else here but I would rather keep the mortgage or rental or whatever payments but increase my own income.... WTF my income is the fuel not my 1K+ rent or 2K+ mortgage payments!!!!

[@JohnBowl14690]

Dang. Your mortgage must have been high. Trip for two to Europe is about $5K. Upgrading car is usually around $7k. Invest more, pets and give more is likely around $12K. So your mortgage was at least $2K per month. BUT....no tax break, so yeah....you were paying a large mortgage, so effectively, you had to have been paying at least $2400 per month so get this total affect.

[@MarriageKidsandMoney]

Yes, our payments were around $1,900 per month. But we still pay for property taxes and insurance. Glad it's gone though!

[@JohnBowl14690]

@@MarriageKidsandMoney - Congrats. It took me about 20 years longer than you, but I did it as well. Feels great tho!!!

[@donaldlyons17]

@@JohnBowl14690 If he made six figures which should put him at around 6K per month his mortgage sounds double....... Not like 80% of his total income was eaten up~!!!!!

[@prestonthomas5399]

Good job bro

[@MarriageKidsandMoney]

Thank you Preston!

[@user-to8tc9kt3t]

you guys rock!

[@MarriageKidsandMoney]

We appreciate that!

[@wxxr9095]

(1:09) helping?

[@brunovictal2674]

👍🏾

[@jayc4715]

👍

[@judyjohnson9207]

Thanks for the knowledge... moreover, thanks for keeping the positive vibe THE ENTIRE video... Have you thought about teaching lol?

[@MarriageKidsandMoney]

I'm so glad you enjoyed the video! And yes, I love teaching (just trying it out on the internet first - haha)!

[@keertisunkara]

I am confused about paying off the mortgage with 2.5% interest. Should I payoff or invest where I get no less than 9% returns? Any help is appreciated. Thanks

[@MarriageKidsandMoney]

This all comes down to your personal opinion and your unique situation. I’d recommend doing both. Invest with tax advantaged vehicles like the 401k, IRA, 529 (if you have kids) and HSA. And use extra to make additional principal payments on your mortgage if that’s important to you. If you don’t feel passionate about becoming mortgage free, then I wouldn’t suggest it.

[@victorl6224]

Where are you guaranteed no less than 9% returns? There is no such thing. Not guaranteed. Paying off the mortgage is not just a guaranteed 2.5% return, it’s a guaranteed chunk of disposable income that you can then use to invest in whatever you want and never run the risk of losing your home.

[@teddyruxpin7876]

@@victorl6224 s&p500 has averaged 10% for 100 years, don't be ignorant

[@victorl6224]

@@teddyruxpin7876 not guaranteed, and with long stretches of zero or negative returns. But you should definitely take out as many loans under 10% as possible and put all the money into the S&P500.

[@alexp8924]

I would make a decision of what to do with all the extra money BEFORE you brought it to the bank, not after. Isn't the whole purpose of taking mortgage to NOT have to pay a lot of money today and rather do it in 30 years? I guess you get to look at it differently when you have money to buy house outright. Most wealthy people I know choose to take the mortgage. Ok, actually, its all wealthy people I know.

[@MarriageKidsandMoney]

Good perspective to consider. Paying off the mortgage early is not for everyone. If you’re looking for the most financially optimized route, paying off your mortgage early may not be for you. For me, it was one of the most freeing decisions I’ve ever made in my life.

[@alexp8924]

​@@MarriageKidsandMoney It certainly freed you from having 200k that you could do something with :)

[@MarriageKidsandMoney]

@@alexp8924 haha! To each their own.

[@donaldlyons17]

@@alexp8924 If he mads 6 figures he still has 200K in likely 4 years either way at minimum...... I used to have 5K minimum excess each year which is so much less that what he had (has).

[@James888JJ]

How old are you now?

[@MarriageKidsandMoney]

I'm 40.

[@wigum12]

how long did this take you guys to accomplish?

[@MarriageKidsandMoney]

We were able to pay off our mortgage in just under 4 years. For context, we were making around $170k for our household income at the time. While I'm proud of our accomplishment, I'm aware that not everyone makes that amount of money. Here are the details of how we did it: kzbin.info/www/bejne/pIG7iXuKgq2frqM

[@wigum12]

@@MarriageKidsandMoney thats great!! we started with 127500 loan. its been about a year and a half and we have 72k left. Cant wait to be completely debt free

[@andrewbullard8451]

4:17 😎

[@MarriageKidsandMoney]

I start to get a little weird after step 2 typically - haha

[@seanbrown4041]

Great video

[@MarriageKidsandMoney]

Thank you so much Sean!

[@Yagayee]

Great Content

[@MarriageKidsandMoney]

Thanks!