Stop Investing to Pay Off the Mortgage? Nah, Coast FIRE First!

For those who are working to become mortgage-free, you might ask yourself if it makes sense to stop investing to pay off the mortgage faster.
I believe Coast FIRE should be your first milestone. In this videos, I'll share why I feel this way and share steps so you can learn when you've reached Coast FIRE.
CHAPTERS
0:00 Intro
1:40 Calculate Retirement Balance
2:25 Use Compound Interest Calculator
3:15 Use the 4% Rule
4:02 Calculate Comfortable Lifestyle
5:16 What's your decision?
6:43 When can I stop investing?
7:03 Coast FIRE
#MortgageFree #CoastFIRE #RetirementInvesting #InvestingTips #Investing #FamilyFinance #PersonalFinance
RESOURCES
Lively (Open Your HSA Today): www.marriagekidsandmoney.com/l...
Compound Interest Calculator: www.investor.gov/financial-to...
Like the Video? Cheers Me a Cheap Bottle of Wine! www.marriagekidsandmoney.com/wine
OTHER VIDEOS TO WATCH
Coast FIRE: Is $750,000 Enough to Stop Investing?
• Coast FIRE: Is $750,00...
Best Budget Apps (2021): 15 Cheap or Free Budgeting Apps
• Best Budget Apps: 15 ...
We Achieved Coast FIRE! How We Saved $500k by 40
• We Achieved Coast FIRE...
Coast FIRE: An Easier Way to Join the FIRE Movement
• Coast FIRE: An Easier ...
MARRIAGE KIDS AND MONEY:
This award-winning blog, podcast and KZbin channel are dedicated to helping young families build wealth and thrive. Each week, Andy Hill interviews personal finance experts, families who've achieved financial independence and debt-free young parents.
BIO - ANDY HILL:
Andy Hill is the award-winning family finance coach behind Marriage Kids and Money - a platform dedicated to helping young families build wealth and happiness.
Andy's advice and personal finance experience have been featured in major media outlets like CNBC, Forbes, MarketWatch, Kiplinger’s Personal Finance and NBC News. With millions of podcast downloads and video views, Andy’s message of family financial empowerment has resonated with listeners, readers and viewers across the world.
When he's not ""talking money"", Andy enjoys watching his kids play soccer, singing karaoke with his wife and watching Marvel movies.
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Facebook: / andyhillmkm
Subscribe to my KZbin channel today to strengthen your family tree and live financially free!
DISCLAIMER
This show may contain affiliate links or links from our advertisers where we earn a commission, direct payment or products. Opinions are the creators alone, and this content has not been provided by, reviewed, approved or endorsed by any advertiser. Information shared on this channel is for entertainment purposes only and should not be considered as professional advice.
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CREDITS
Video Editing: Dan Hinz
KZbin Channel Management: www.weirdigitalmarketing.com/"

[@JasonBay-RealEstateInvesting]

I paid off the mortgage on my Bay Area home in February this year (2022). Now looking at all the economic turmoil that could be ahead, I feel incredible knowing I have a place to live locked in regardless of what happens. I sold a big chunk of my Robinhood portfolio in order to pay off the home. Lucky for me I sold before the market started to slide in March. What luck! Great video

[@MarriageKidsandMoney]

A big win for sure! Nice move!

[@joshuaberghuis4352]

Another thought provoking video Andy. I am on the road to turning my finances around. I am 38 and my wife and I and 3 kids live as expats. Unfortunately we have nothing in retirement at the moment but I really want to pay our house and small personal loan off before really getting into investing. I really enjoy your videos. Thank you for your continued ideas on turning finances around.

[@MarriageKidsandMoney]

I’m glad you’re enjoying the channel! Mortgage freedom is a beautiful thing. I just want to make sure everyone had their retirement set as well. That personal loan sounds like a great place to start 💪

[@autobotdiva9268]

doin both in coastfire. split up the payments since now no credit card debt. although not looking for forward to putting in extra hours but overtime is always a go to for the summer!

[@MarriageKidsandMoney]

That’s awesome! You find your own version of financial independence. I’m rooting for you!

[@stephen6262]

The best feeling ever is paying off the mortgage. The worst feeling is seeing your investments drop in price. I havent looked at my investments for 3 months. I would overpay on your morgage just to bring debt down

[@MarriageKidsandMoney]

This stock market as of late is rough on all of us!

[@jamesp9998]

Thanks for the information

[@MarriageKidsandMoney]

Thank you for your support James!

[@benfurman9622]

Great video!

[@MarriageKidsandMoney]

Thank you Ben!

[@kay203]

If at coast fire, makes total sense to pay mortgage and stop retirement contribution. If not, I'd sugfest not and focus on building retirement account

[@MarriageKidsandMoney]

👍👍👍

[@cmurill]

I don’t recommend to do coast fire, I recommend contribution reduction Example if you were doing 25% to do 15% and everything else to pay off your primary home mortgage why? If we have a lost decade now with a market crash and zero money in contributions during this time, this could kill your portfolio instead of having DCA a small percentage during this time and benefitting from the next bull run after it. The government calculator doesn’t take this into account so be careful 😢

[@chadgranoff5698]

Over the last 24 hours I've geeked out on Coast FI. At 48 y/o... I think I might be there. You're videos have helped so much and is the math I've been looking for. However, after seeing a bunch of Coast FIRE vids, why is the magic age not 59 1/2? Letting the retirement accounts compound until 59 1/2.... and calculating from there? Just curious. Thanks for the great channel.

[@MarriageKidsandMoney]

Great question! Honestly, it's so the retirement account balances are larger. The reality is ... the more time you have in the market, the more money you'll have. So if you shorten that window by 5.5 years then you won't have as much. BUT if you can make your Coast FIRE calculations work with 59.5, then go for it! You win the game :)

[@chadgranoff5698]

@@MarriageKidsandMoney thanks so much! Makes perfect sense. 😁