Stop Investing And Pay Off Your Mortgage

[@dcamnc1]

I did this, bought an inexpensive house and paid if off pretty quick. Best thing I ever did. Haven't had any debt or mortgage for almost a decade. Paycheck comes in, and stays in.

[@TommyBryson]

That’s awesome

[@yasminogbu8929]

@tracy What a twisted question to ask someone 🥴 like are you enjoying working 247 to pay your bills in your short life ??? What a weird question 😂😂

[@OldTimerGarden]

@@tracywalker244 Will you enjoy living homeless in your retirement years? I know of a few tent cities that will be happy for you to move into.

[@michaelkeudel8770]

I paid mine off January, then finally had the money for fire drills, replaced some old dilapidated furniture, starting catching up on my massive to do list. Being debt free is great. Still adjusting to my home tax/school tax schedule since I have no escrow anymore, so still trying to streamline my budget to take those into consideration into balancing my budget. Nice having money in the bank also.

[@TheInquisitiveShark]

This. This is the piece of mind that sounds amazing.

[@jeremyr7661]

Yep, I can't wait to have that piece of mind. I'm 35 and in 2 months, my house will be completely paid off. 🎉😁

[@yasminogbu8929]

🔥🙌 congratulations!

[@jeremyr7661]

@@yasminogbu8929 thank you!! 😄

[@ToOpen6seven]

Congratulations!!

[@jeremyr7661]

@@ToOpen6seven thanks!!

[@eunicebernard3054]

Congratulations

[@tinanolan1485]

Paid my house off ten years early. Sleeping very well in the current economic climate.

[@yannip2083]

Even though my interest is so low, I still paid off my mortgage ASAP, so 5 years since the day I bought, instead of the full 15-year loan term, and be mortgage-free, debt-free, stress-free. Now, all my paychecks are for me and only me. Peace of mind is PRICELESS! Stability is PRICELESS! Financial freedom is PRICELESS! And I am FEARLESS, even if the economy is crashing.

[@enriquelinares9218]

agree with evrything except the 15 year Morgage instead of a 30. i think you should get a 30 and treat it as a 15. this way if you lose your job or something like that happens you have the option to reduce your payments. with a 15 Year you are stock with the high monthly payments. this could become a problem if the economy goes south and you lose your job.

[@nesq4104]

My mortgage is paid off. I am no longer a slave. My monthly utilities is 150 including homeowners insurance. Iol

[@TommyBryson]

That’s awesome 👏

[@Elena-er7zp]

No property taxes?

[@nesq4104]

@@Elena-er7zp yes! No property tax. I have a homestead exemption.

[@fucuszullanti7877]

$150?? My power bill is more than that

[@nesq4104]

@fucuszullanti7877 my electric and water is 30 each. No gas. Home insurance is 50 monthly

[@PotBanginEejit]

My personal experience of paying off our mortgage (at 40yo)... The effects didn't truly hit me till a few months later. You just wake up one day and feel a bit different. Weird thing is when other people start talking about rent and mortgages and you can _relate_ to them but it's _different_ for you. It's a bit strange. And when there's a big rates increase and you can _sense_ that there's a whole bunch of worry and stress out there now... Again, you can _relate_ to it, but it doesn't affect you. I don't think I'll ever get used to it.

[@rda9441]

Wish I saw this before because I had strong stock gains after 2020 and should have sold some stocks to pay off home with highs. I choose to hold and many of the stocks loss value in the last 2 years. Kicking myself now for not selling and clearing the mortgage debt. Got impacted by 2023 epidemic of layoffs and would be sitting in better position if I had paid off home since my biggest expense. Definitely life lesson and will push to get house paid off now.

[@originalsixx]

We have been making 4 mortgage payments a month, 3 towards the principal and 1 monthly payment. I got ahead on monthly payments previously to get paid up one year ahead, I don't currently have a payment due until next May. We should have it pif by the end of 2024. It's the only debt we have. I can't wait until we are done with it. I will never take out another loan again.

[@NS_WestBound]

Probably the most 'realistic' description I've heard...as a 52 yo, you've reminded me of why I did exactly that. Sometimes wonder, 'what if', but that investing strat takes a unique disciplined individual. Thanks!

[@kazi1]

I agree Tommy, great to pay off mortgages to have peace of mind and stability.

[@MMAGrinders]

You can't put a price on the peace of mind you will have with no mortgage.

[@justicelives1694]

Yess 🙏🏾

[@dustinquinton]

I bought my house in December of 2022, and will have it paid off in about 7 yrs. I will have saved $250,000.000 in interest. That to me is a good reliable investment. Plus, I have that peace of mind of having my house paid in full. Someone can do a lot financially without a mortgage. Plus, I currently work a full time job, collect on a pension and still invest in my 401k. To include, I’m moving to Thailand when I’m 62, which is the year I will retire. Thailand is very inexpensive.

[@Michael-DS]

Or... Build a 6 month emergency fund in cash, then invest. That gives you 6 months to withstand the turbulence of life, find a new job, etc. It's not all or nothing. I'm team invest when you have a fat emergency fund.

[@HYPER4MANCE]

Thanks for the prespective. Life doesn't always go as plan. When you own your home you get that piece of mind.

[@yasminogbu8929]

Yep !

[@JohnSmith-dg5cc]

You're growing up and having a change of perspective right in front of our eyes.. Great content as always! Blessings to you and yours

[@TommyBryson]

I just noticed that myself, I really have been making content for awhile; God is good

[@iseektruth64]

Protection, stability and low cost of living is what I need right now. I'm retiring in 3 years.

[@AC_TexasRealtor]

We paid off first home in under 5 years and now it's a rental. We're on the way to pay off our second home in under 4 years :) still maxing our investments

[@phobedavis7014]

I agree. I have just paid off my home. The goal is to replenish savings and fully fund the Roth IRA. The thought of living in van at 70 years ago scared me.

[@TommyBryson]

Congrats !!

[@phobedavis7014]

@@TommyBryson Thank you.

[@dn2l]

haha.. Van life isnt that bad... i wouldnt live in that either. Im about to close on a home, and have been watching how to pay off the mortgage faster before even looking for home. i want to be done in 5-7 years.

[@Raymondjohn2]

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

[@hermanramos7092]

If anything, it'll get worse. 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.

[@martingiavarini]

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.

[@bob.weaver72]

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

[@martingiavarini]

There are advisors in cities around you but I needed services of one who can guide me irrespective of location. Natalie Lynn Fisk comes highly recommended especially in times like this. I am hedging and haven't lost much to the recession. I found her in 2020 when the market was at an all time low. Look her up and thank me later.

[@bob.weaver72]

I am on her site doing my due diligence. She seems proficient. I wrote her an email and scheduled a phone call. Thanks for sharing

[@gregoryburns648]

I enjoyed watching your video. Next month will be two years since I paid off my mortgage. It took me 11 years/10 months to pay it off. I didn't start paying extra on the principle until the 6th year of the loan. I regret not paying extra from the beginning, but I saved almost $60,000 in interest and now my house is paid for.

[@tranger4579]

This is exactly what I was told years ago. But sadly my boomer parents said I needed to go both at the same time.

[@RoBDeeZL42]

lmao it's because people swear by interest rate arbitrage and it's trendy. But real estate is one of the most expensive things you can buy, next to bitcoin. So youre better off paying cash or knocking out that mortgage loan asap. Otherwise that 400k home really was a 950k home because of interest, not including the routine costs. Not having that monthly obligation is better than thinking you'll make 2% or something on index funds compounding.

[@TommyBryson]

You are speaking my language

[@walteranderson349]

Tommy. I think if you want to pay your house off. Rather than make extra payments put the money in an account and then once you have the money saved up to pay the house off pay it off. The advantage is you have control of the money if something happens and you have to give up the house you don't lose all the equity that would have been that money which would have been tied up in the house.

[@stephaniel6867]

Exactly! Not to mention, your money will make you additional monies.

[@samcortorreal]

Tommy, I have a 5 year an arm and the loan originated on 10/29/2020. I borrowed $270,000. My Rate currently is 3.975% till 11.1.2025. Chase was trying to convince me to get into the markets. I declined because I want to try to pay off the loan before 2025. I am currently have $130,000 of the Mortgage left in two years. Thank you for this video my brother.

[@nesq4104]

I have never met a person who made money using chase. 😆

[@leaylajones5632]

I was able to sell my house and with the money bought a smaller home paid in cash. We have no mortgage presently We are aggressively investing and renovating the house out of pocket no loans. When our pay hit our bank accounts it automatically goes towards investing/ repairs etc. It feels so good to have that serious cash flow without worrying about mortgage payments.

[@michaelkeudel8770]

Being debt free and living within a budget is better than losing money in interest payments thats for damn sure. I paid mine off on January, and can finally afford to save/invest/fix things with cash instead of loan or credit. I'm in no hurry to lump another boat anchor on my shoulders anytime soon.

[@GhanYt]

I appreciate your approach to teaching.. To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough, we just need to hold onto our hopes and wait to see how things turn out because market movements are almost always unpredictable. In my portfolio, I'm noticing more red than green......

[@bahijarhafiri]

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

[@bahijarhafiri]

My advisor is *ROCH DUNGCA-SCHREIBER* ’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. 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....

[@TheFirstRealChewy]

One thing to consider is that the lower your expenses, the easier it is to find work that pays enough to cover those expenses.

[@ToOpen6seven]

Exactly -- or to live off of your retirement and social security so you can enjoy life more.

[@justicelives1694]

Rite !

[@thomaschew2191]

Because we have a paid off home (paid off in 12 years) and no other debt and we have learned to be frugal, we are able to invest/save 50% of our income. I personally think that is bad azz.

[@coffeecreambudgetdreams2579]

Glad I saw this. I’ve been struggling with this decision for a year now. Wanting to retire early *2years* my thoughts were to tackle the mortgage, which takes away my largest and only debt.

[@SilVia-hs2kb]

You are 100% correct.

[@Phantom.1]

When you save money by paying off your mortgage, your net income increases. You can also make money on your own escrowed property taxes and insurance instead of letting the bank escrow it for you.

[@OMGHIDE]

I got my paycheck and paid off my credit card 1.5k in full I just decided suffering for the next 2 weeks would be alright for me. 😭

[@TommyBryson]

Nice, I would personally close the card to prevent another episode

[@applefarm6126]

@@TommyBryson Isn't it bad advice to close credit cards?

[@TommyBryson]

@@applefarm6126 thats what they want you think, but you dont need credit buy a house or a car, so whats the point

[@Karen-ib4jc]

Thank you so much for what you are teaching. I am over 60 and want to pay off my home and you are really the first one supporting. As we do not know what the future hold .I am going to use some of 401 k with not very much to pay off. I am not sure I may have to retire early and not having a mortgage would be very helpful with pension and SSI and some 401 k . Thank you.

[@TommyBryson]

Before you do that. Remember the penalties associated with it. Compare the fees it'll cost you if any vs you just paying

[@martinrbookermb]

I agree, it's great to invest and I do, but paying off your mortgage gives you freedom. Once it's yours it's yours and saving and investing after goes through the roof. I managed to save a years worth of energy funds quickly so if I don't work for a year it doesn't matter? That's how good it is!

[@alfredoarenas8616]

I also own my house free & clear. I agree with you. There is no way to ecpress the peace of mind you can feel when you own your house free & clear.

[@realtalk5931]

I always say do both. Don’t ignore either.

[@ToOpen6seven]

Nothing wrong with a 30 year, you can still pay it off early. That is my plan -- I want to pay my home off in the next 6-8 years and I purchased it in 2019.

[@johnathansteil8186]

Just make sure you read up on the repayment payoff penalty.

[@dasgespenst979]

Some people forget the debt to income ratio, and the affects of not having that mortgage payment every month.

[@justicelives1694]

Home. Good stuff !! I will keep Investing but like you said, I want to have a lower income by paying off my mortgage early.

[@logdon17]

Mathematically, paying off a cheap mortgage doesn't make sense versus investing. However, this does not account for the human element. People lose jobs, change careers, become disabled, have unexpected expenses, etc. So if you feel none of those situations will apply to you, then go ahead and only invest. But for the majority of people, paying off all your debt will give you the most peace of mind.

[@joseCalderon1976]

Good advice. Subscribed. Debt always has some level of risk involved. I'll probably try to pay off my house in 5 years instead of 10. I just want to get rid of this $102k debt. Then after that, I can throw the $1200 per month right into my retirement account. I already have $62k in my retirement account. Not much for a 47 year old, but it's better than zero.

[@philmarsh3859]

Paying off your house is like earning your mortgage rate guaranteed risk-free. When I bought my current house, the rate was about 5%. I couldn't figure out where I could get that return risk-free. I don't have a crystal ball. A paid-off house usually doesn't maximize returns but neither does any other diversification scheme and a paid-off house can be an investment diversification. Now, you can put all your discretionary money to investments. But don't buy a house as soon as you have all the cash. Get about 30% more than the price of the house prior to buying so you have a cushion.

[@ShutterSpeedGaming]

Home!!! I’m 34 I’ve had my home for 8 years. I have 74K to pay till it’s paid off and want to get it paid off in the next 2 years.

[@TommyBryson]

Let’s goooooo

[@janebaker4912]

Saving this into my mortgage motivation play list to watch again

[@fsm12385]

Peace of mind is priceless actually , pay your self the payment you were giving the bank thats investing with No mtg

[@colmfoley5583]

Good video. The "honeypot" that is PCP is making it the norm for some people to always have a car payment....a slippery slope for most...

[@premsun]

This is a great video Tommy !

[@TommyBryson]

Thanks 🙏

[@fsm12385]

Look at what you pay them in 30 years , great program New Subscriber.

[@rothschildclaimers4343]

Thanks for the Knowledge Bro 👍

[@wb1738]

I have a three percent interest rate. My monthly mortgage is less than $800.00 for a 2b, 2b condo in Miami. I will continue to make lower payments rather than give up money I may need in case of an emergency situation.

[@fucuszullanti7877]

that a rare situation, if my mortgage was 800 a month and 3% i wouldnt pay it off .. but mine is $1400, so gettin rid of that payment would be great

[@nickels.with.nicole]

Glad to here a win for paying off your house over pushing for investing all you can. It would be nice to not have that big chunk of money to worry about if you lose your job, have a serious health issue preventing you from working, or else.

[@BW-kv9wj]

I’ll have my house paid off next month and all income will be pure profit to do as I please. The majority of all my income will be invested. No debt

[@bossman5161]

Pay off ONLY if you high interest. Put in high yield savings account to cover 1yr emergency fund…Invest Invest Invest!! A paid off house with 100% equity doesn’t make you money, meanwhile S&P 500 historically avg 10% return annually. If you lost your job and used up all of the emergency fund you can’t easily tap into your equity. You’d have to refinance and that endangers you losing the home. Stocks can be withdrawn anytime. Stocks interests compounds where your equity makes nothing. Just don’t buy a home you can’t afford then you’re fine.

[@callmeNeno]

Casa!! paying off debt free entonces invest ; Need pay off that debt and get that 6 months emergency fund, Then, invest like loco.

[@GauchoDon]

I think if it’s fear that makes you not trust the math, then increase your required savings/low risk investment reserve.. my math on whether to pay down early or leverage more for housing is: is the rate higher or lower than expected return? Over time real estate averages 4-5%.. so if my mortgage is over 5%, I’d be paying it as quickly as possible.. if it’s under 4, I’m paying as slow as possible. Other consideration:hurdle rate would be wage inflation.. if average wages is going up more than my interest rate, then my net debt is getting cheaper. If rates drop back under 4 and property values haven’t dropped I’d borrow more and take the higher payment to allow buying more and having more reserve

[@sauljimenez6738]

BIGGEST MISTAKE WHEN BUYING REAL ESTATE IS GETTING INTO A SINGLE FAMILY HOME!!!! IF YOU GET INTO A MULTI FAMILY, YOU CAN LIVE POSSIBLY MORTGAGE FREE AS TENANTS WILL PAY IT FOR YOU. DO ALWAYS INVEST EXTRA MONEY INTO STOCK MARKET UNTIL YOU HAVE ENOUGH FOR A MULTI FAMILY HOME, THEN USE EXTRA INCOME FROM SECOND HONE TO PAY OF FIRST HOME WHILE YOU STILL INVEST IN STOCK MARKET.

[@wynterhudson2262]

Home 🏡 currently doing both!

[@skittishscam]

Great advice but I don’t think it applies to everyone especially with rent being so high get the 30 yr mortgage make a plan to make extra payments even 100 extra a month will shave years off your mortgage and go from there. Don’t get discouraged if that’s what you’re able to do right now go for it.

[@grynocologist]

Why pay off a mortgage? It cost less money yo pay it off in the future due to inflation.... imagine paying 400 dollars 20 years ago for mortgage and paying the same 400 today..... money in your house is only for peace of mind and you still have to pay taxes and upkeep

[@nesq4104]

No. Later the cost of house increases exponentially.

[@tulio3571]

Home, my interest is way to low to pay it off.

[@sunshinewolf5980]

Hey Tommy, what about if the interest rate you got is so low and you're close to paying it off? Would you pay it in full before it matures or invest it instead? The rate that I have right now is 1.74% and paying just the minimum required amount will have our house paid off next year April.

[@zoranpetrovic7647]

Wow nice,i have 7.65% rate :(

[@TheFirstRealChewy]

It depends on your needs. If your goal is to reach a certain target in liquid assets very quickly, then keep investing. If your goal is to lower your monthly expenses as quickly as possible, then pay off the mortgage early. We'd like to lower our living expenses as low as possible and as early as possible. This way even if we lost all our investments (house not included) we wouldn't need as much money to keep living.

[@sunshinewolf5980]

​@@zoranpetrovic7647oh man, that's high!

[@sunshinewolf5980]

​@@TheFirstRealChewyThanks for your advice! Between the two, we'd rather lower our expenses as a month after my comment on this channel, my hours have been reduced 40% even after almost 10 years in the company. So paying off the remaining balance in December around 5k is better than waiting till April and we start fresh.😮

[@checkthemikecrophone9050]

Great video

[@OldTimerGarden]

You're a smart man.

[@eriotero8397]

Great content

[@sha_la007]

Home...doing both

[@TommyBryson]

Consumer debt is tricky, because you’ll be better off paying debt only instead of investing, if the debt is like 18% and investments make 8%

[@jz28h]

Sounds good but there are a lot of people with paid off homes but little to no retirement. And that also goes with the thought process that you’ll be there for life. People move every 7-10 years average so those extra payments could be used for investments elsewhere that would pay more.

[@TommyBryson]

You don’t want to be like the average person and the person with a paid off home and little retirement is better off than the one without one

[@jz28h]

So you’re not hearing me LITTE retirement isn’t retirement is what I’m saying. It’s called working till you die. You put all your retirement into that house and insurance and taxes go beyond what Little you have been able to save it’s not your house anymore. It’ll be sold off to the highest bidder. Please don’t mix my words. There is no one path for people because there are too many variables but I’d hate to tell most that paying off your home isn’t their best move. Especially if you have a interest rate sub 4s. The money would be bettter used elsewhere.@@TommyBryson

[@TimHope-m7u]

So this is good based on risk. Howeer what if you do both. Take his example where you have $300 a month.. Split this and invests half and put hafl to the mortgate. You will pay off the the mortgage early but also invest for a longer time and can use the earnings at some point to pay off the mortgage in a lump sum at a pointin the future

[@TommyBryson]

If the mortgage is your only debt, then cool but if you have other debt, it’s best to take care of it before investing

[@hectorheredia311]

Hey Paisano Hello from Texas!!! Question what would you do in this scenario I have 200, 000 on a saving account I have a house in Puerto Rico that I only own 45k with an interest of 2.75 would you paid off the house ?

[@joaquimrodriguez8961]

That's all fine and dandy but it' the home insurance keeps increasing. Which is always a setback.

[@robertwhite4980]

HOME .

[@Ali-zz6yz]

Be a chump and pay your mortgage off. If you want to have money you need assets and you need leverage. If you can pay your mortgage off, get another property instead and have both under mortgage. You make rental and capital appreciation.

[@chrissharkey9644]

7 percent of a $400k house is more than saving 10 Person in an investment

[@glasshalffull2930]

My investing helped me “be the person” that has $3.3 million in my retirement portfolio. Sure, if you can pay off the home loan early, that’s great, but first invest in your retirement. BTW- the earlier and more than you can invest, the much greater gain you will have over a career. Delaying five or ten years to start funding your retirement, can cost you 100s of thousands of dollars.

[@bailbondpartners]

I encourage your advice enthusiastically, however I'm doing both. More towards the house than the investing & my current real estate holdings pay my monthly mortgage & a car payment as well. But that's me..

[@adrianadestino6420]

>I Will advice traders especially newbies to have orientation of trading before they get involved in it because the Crypto market has been unstable, forget predictions and start making a good profit now because future valuations are all speculations and guesses. when news gets bearish start buying. "Keep it simple" That correction was the best thing that happened me. but all thanks to Mr K

[@adrianadestino6420]

He's on TELEGRAMS

[@adrianadestino6420]

@k99coin THAT IS HIS USER NAME

[@larryadolf6992]

Best signal provider in the market. Knowledgeable, level headed no loss like some other traders who recently jumped on the bandwagon…

[@joshuacharlery5826]

Interesting

[@stanmoney8470]

Get an equity loan and buy more property! There's good debt when your buying real estate!

[@danapenj77]

Home

[@nickeapollard21]

home

[@TheBryanmauro]

no

[@BigStinkyChonkr]

casa

[@TommyBryson]

😎😎

[@lifewithfrank4life]

Home 🏡💯

[@troopersjunkremoval3166]

What’s up homes??

[@tulio3571]

Homes

[@FBA_GoldeeLocs]

Home 🥰thx cutie

[@Ripside2]

15 Ysers !!!! ~ @7:05

[@Roman49837]

Worst advice on the internet. This guy must secretly work for the mortgage industry, who wants your cash early so THEY can invest it, while you end up with equity stuck in the walls of your house. Who’s the slave now?

[@kazi1]

Hi

[@cheddarroman2536]

Dumb advice, sounds like someone bought wayyyyy to much house. You can live comfortably and invest. Screw paying off a house early when you can use compound interest to get better returns and pay your house with future dollars.

[@nocturneowl2660]

Great video

[@gregoryfaulcon550]

Home

[@jesthenumbers]

Home

[@mariej5700]

Home