THE TRUE VALUE OF BEING MORTGAGE FREE (4 Reasons)

[@AResilientLife]

Hey everybody! The true value of a paid off mortgage is not only MATHEMATICAL. There's a MENTAL aspect as well. In this video I outline a few of those benefits that I've experienced. Please leave me a comment, and feel free to subscribe.

[@604raider5]

I paid my mortgage off earlier this year, and I don't regret paying it off early at all. The piece of mind is priceless.

[@joelhurt8868]

Paying off your mortgage is like taking off a 100lb backpack after a 100 mile hike. I wish this for all homeowners to reach this goal. It doesn't free you from life's problems, but it does liberate you from a huge financial burden.

[@AResilientLife]

I like your description. Thank you for commenting.

[@RickVanderJagt]

Paid off my mortgage two years ago. Best financial decision I think I have ever made. Retired last year at 48 1/2. Now I'm experiencing life as it should be.

[@AResilientLife]

Well done!

[@alanduff2205]

I paid off my 30 year mortgage after 3 years from my share of my Dad’s estate. Low interest of4.25%. To me it wasn’t a financial decision but a security issue. The market may go down but my zero mortgage will never go up.

[@AResilientLife]

Well said. "The market may go down but my zero mortgage will never go up." That's exactly how I feel. Thanks for commenting.

[@wildnfrantic1015]

I'm thankful I cleared my mortgage earlier this year, and being debt free has allowed me to retire in March - retirement is still a worry but is possible without the biggest debt we all carry

[@AResilientLife]

Yes! Being mortgage free is a game changer!

[@tomTom-lb5cu]

Every point you made is perfect. Also its a psychological feeling when your still working knowing if you lost your job one day for any reason at all, your home isn’t gonna be taken away in a few months or anything it’s yours you own and it’s cash in the bank . At least that’s how my mind thought of it. Having things is nice but once you have them then the fear of losing them is a psychological issue I think everyone has in the back of their mind. But when you own something it’s yours to do whatever you want, resell it , give it away, throw it in the trash, whatever.

[@chitchatvn5208]

That is a great perspective: Mathematical vs. Mental and Spiritual! I am on your same camp. Everyone fed themselves the idea that they can make more money by investing it somewhere. Well, most of them did not really make it. You will save hundreds of thousands on mortgage interest. When you invest somewhere else, you will face the chance of losing money, tax on your gain and the headache of doing that. But the peace of mind that you and your family will have a place to live if something happened to you is priceless.

[@AResilientLife]

Thank you.

[@willlsmith8063]

Great video Ronnie .. I have six payment left to run … can’t wait

[@AResilientLife]

Six payments left? Good for you. Your life will change. "I miss my mortgage" said no one ever.

[@chitchatvn5208]

Congratulations!

[@violetsinspring5863]

Great video, Ronnie! Yes! Confidence and peace of mind in paying off your mortgage. I’ve been in my home 40 years, paid off mortgage 20 years ago. The peace of mind is fantastic! And I love my home and haven’t ever wanted to get a bigger better one. My home isn’t fancy but it’s all mine❤ and I truly love it and the freedom that being mortgage and totally debt free brings me. Thanks for the video.

[@AResilientLife]

20 years mortgage free? Wow! 16 years for me. "I miss my mortgage" said no one ever.

[@violetsinspring5863]

@@AResilientLife True that! :)

[@mikefigures5075]

Unlike the majority here .. I derive great emotional satisfaction paying the bank less than 3% interest on my mortgage and getting much higher returns in investments. 😁. Literally puts a smile on my face.

[@thinker2328]

Nothin' feels better than free money

[@ColinHope-ej7nj]

Thanks for the great video. I just finished paying my mortgage off at age 56. Got no car loan either. I just need to save up for retirememt. The work life just gets worse & worse each year. But having the mortgage just payed off this month. Is a relief. Great video thanks 👍

[@bskinny9009]

Same with me, 56 and just paid it off.

[@stevesilver7437]

Good for you awesome 😊 it’s something I think of every morning I wake up 😊😮

[@ericg9092]

Good job. I just paid my mortgage off at 53, but bought a new vehicle this past May that I have 18 more payments on. The sense of relief and thankfulness I have in owning my home free and clear is almost indescribable.

[@stevesilver7437]

@@ericg9092 Good for you paying of that Mortgage. The happiness in paying a mortgage will bring you joy. The rest of your life!

[@BlueLineGroovy]

My mortgage is paid off.. I’m debt free. You wouldn’t believe how many “advisors” suggest I take out a home equity loan.. to “go spend freely”!! I don’t understand how any loan, putting my house (and security) on the line.. would make my life better.

[@CivilEngineer1278]

Thanks for sharing, Ronnie!Paid off our mortgage in 2020 at 42. I love being debt free!Eleven more years to retirement 🎉

[@spencerdavies2530]

I'm with you Ronnie, I paid off my mortgage then almost immediately got divorced so I downsized and eventually paid off that mortgage as well. Now I'm just full of gratitude to have a comfortable roof over my head with no debt. I'll be here for however much longer I have.

[@teams3345]

We love having our mortgage paid for. We paid off our last home ten years early and then purchased our new retirement home with cash. Love it!

[@cecerider4911]

🎉🎉🎉❤

[@suziehappy29]

Great content. I couldn’t agree with you more. I’m working on paying off remaining personal debt in 7 months than will be tackling mortgage. I started sending an extra 75 to principle just to get into good habit.

[@DannyBrooks1]

All great points!

[@managingmonasmoula9811]

Looks like I’m in great company here! I just paid off my mortgage in November 2024 and turned a 30 year loan in to 9 years! I’m officially debt free! Now I can save, invest and give like never before. Wahhoo! 🥳🎊🎉. Being debt free is wonderful and when I lay my head down on that pillow each night, I’m so grateful to God 🙏✝️ that I’ve been able to achieve this goal in my life! I highly recommend it!! 💯🙌✅

[@AResilientLife]

Congrats! It's a game-changer. You'll be amazed at how quickly your savings will accumulate. Plus, the mental benefits are amazing.

[@TheSilkyStar]

I feel what you said 100%. I lost my job earlier. At first I was anxious because it was few year earlier than I expected. However, first thing that I did was pay off my mortgage. The moment that all done, I felt relived and had no worry anymore. I can live with what I have and glad that I can go for early retirement.

[@AResilientLife]

Well done.

[@Jfhelwig]

Ronnie I really agree with and enjoy your channel. I watch many retirement videos per day/week. I think a great way to get your viewership up would aim for that 7-8 minute target length. It allows your videos to hit fewer points and even let's you make more videos in the future. I know I have a sweet spot where after 8 minutes or so I determine if the video is worth completing. I think your material is outstanding. Maybe a graphic with your bullet points as you give them?

[@AResilientLife]

Thank you for the tips. I usually shoot for 8-10 minutes. I like that length. However, my highest viewed video is over 16 minutes w/50k views. Go figure. But I do like your suggestion. Regarding graphs & bullet points, I would love to do that but I haven't figued it out yet. I still new to this. Sometime I will put the outline or talking points in the description box to compensage. Thanks again.

[@tomTom-lb5cu]

Every home I bought I paid off asap. I know you always have taxes of course and can lose it under certain situations . But I felt good listing it in my asset column along with my paid off car my 2 biggest expenses in my little world. I only had one home at a time but once I paid them off I pumped as much into mutual funds at the time and it made me financially independent young. I was Prodigious saver for my income almost 30-40% a year. Never broke 100k / year on my regular job. Did side hustles for play money. To me paying interest was about the worst thing I could do and only paid it on my house, not a car and most definitely not a credit card ever.

[@tomTom-lb5cu]

You save money like crazy once your mortgage is paid off. With a little discipline and a nice S&P 500 index fund your wealth will snowball out of control and that’s a great thing. Compounding makes you wealthy beyond your wildest dreams after some years. You can literally change your families destiny for generations if you have a family with good common sense. Forget the college degree common sense and ambition is the ticket I’ve seen both in my life.

[@joliver79]

This is a really good video. The past few months i have been throwing a lot of $ at principal of house and seeing it go down and % also go down. I do not want debt going into my 50s which is 4.5 years away. Now I only have house debt but still its a debt i dont like having or want. Will be a great relief when i pay off mortgage. i have been working 60-70 hours a week and put all that ot $ towards it. IT will be worth it in the end

[@LucasJaraC]

Loving your insightful, inspiring and useful content. Keep it up! 😃

[@AResilientLife]

Thank you for the encouragment.

[@929cbr_rr]

I agree on the mental well being of being debt free. When I was in my twenties and thirties I always had a mortgage and car payment. At times it felt soul crushing. Once out of debt, I finally felt like a free man. And yet I know people in their sixties and seventies that still have debt, and it seems to work for them, so I reckon we are all different. One lady I know in her seventies, I think it's like a game to her, always pushing the numbers around. I'd rather relax and pursue hobbies.

[@AResilientLife]

Yes, some people like to tinker with the numbers all time time. I don't have the energy for it. It's exhausting. Like you, I'd rather relax & pursue hobbies. Well said.

[@carlosgarcia-jz3dq]

Ive enjoyed this video, thank you

[@steelbruin1]

Agreed, debt is not good to carry. Once a person is debt free, they are truly rich. It is surprising how much free cash you have when not paying down debt.

[@AResilientLife]

Yes!

[@johngaltfan9703]

We sold a three acre parcel of land with a modest log home at the absolute peak of the northeast Texas real estate market. The margin on the sale allowed us to pay off a ten acre parcel we purchased a year before, and to pay cash to build a modest barndominium - our forever home. Being mortgage free was a pipe dream until twenty years ago when, at 42 years old, we finally got serious about our financial future. It's never too late to develop a mature sense of financial responsibility!

[@chuckc6256]

The bank may not be able to take your house but the government can if the property taxes aren't paid which is an injustice imo

[@AResilientLife]

I agree. You get taxed on what you earn. You get taxed on what you buy. You get taxed on what you own.

[@glennz6686]

Mortgage free for quite a few years and I couldn't imagine it any other way.

[@AResilientLife]

Same here.

[@crterwil]

Thank you so much! Great informative video.

[@AResilientLife]

You're welcome. And thanks for commenting.

[@keekee8760]

Great video, thank you for sharing.

[@killerbgarage007]

Our investment manager disagreed when we paid off our mortgage instead of investing the money, go figure

[@davidvelen9835]

Peace of mind, I sleep so much better !

[@HectorGarcia-k8p2v]

How about refinance to a lower mortgage payment? Owning a home doesn't make you debt free, water heater, taxes, upkeep etc. You can convert to a low, set rent rate and continue to invest in a higher return investment (stocks, REITs). one can glamorize no mortgage payment freedom, or just have a perspective of money goes in and money goes out. What lifestyle do i want? Am i solely responsible for someone else's poor financial security (kids)? I've come to accept the ying yang theory. To have peace one must experience war, to love one must feel hate. I feel to continue to grow as a person i must understand that some worries or challenges are beneficial 😊. One has to see the past. Did i get where I'm at by sipping margaritas on the beach or busting my ass? Each of us have dreams and wants. Fine the method suited for you

[@dsstewbaby9]

I have a little 2 bedroom house in Huntsville..I made a few mistakes, I bought it from the owner and I didn’t have someone to look over the papers..When I thought I was finished I found out there was a 5 thousand dollar lean on it ..I thank god I finally got it paid..It’s nothing fancy but it’s mine..I would say to people if you buy a house that the buyer finance please learn from my mistake ..Thanks 6:28

[@manuelahernadez5757]

Great!! Love it!!!

[@MTobin1000]

You are a very wise man !

[@7SideWays]

You can also drop insurance if they get outta line.

[@briand4000]

and at the rate things are going, people are getting dropped even when they DO have a mortgage! Crazy days.

[@mikefigures5075]

Dropping $1000 annual insurance to protect an asset worth hundreds of thousands is not a good idea.

[@noreenn6976]

Great lighting in this video, congrats on being mortgage free.

[@AResilientLife]

Thank you. The lighting has been a work in progress for me - a learning curve to figure out.

[@TonyRome402]

I paid off my home 8 years early and feel great about no longer paying interest on an expensive asset. I also feel rich with all of the new disposable income.

[@AResilientLife]

You feel rich w/all the new disposable income? Absolutely! I agree. Same here. Being mortgage free is a game changer. Well done, sir.

[@TonyRome402]

@AResilientLife Congratulations! 🎊 and thank you 😊

[@TonyRome402]

@AResilientLife Congratulations 🎊 and thank you 😊

[@travelingfrogman]

🌟Great video Ronnie! Yes, like you I paidoff my mortgage and also TOTALLY Debt Free. I travel the world over for new life experiences! But also have a home to go back to😊

[@abdul-t6h9l]

god speed to all those who ate trying to pay off your mortgage....this evil debt system is killing us human beings to anybody who thinking of paying of there mortgage i sincerly wish the best of luck

[@StrivingforSelfSufficiency]

I have a way to go yet but feeling motivated to become mortgage free in the next 10 years 🤞

[@depafeo]

FYI, The $33k a year example is false. Mortgages consist of Principal, Interest, Insurance, and property tax. Paying off the mortgage only eliminates 2 of those things

[@datnohi8612]

Property taxes in the area i live tends to increase every year, and some people get foreclosed on because of them, you really don't own your home , that is the truth, your now renting from the local government the true owner of your home

[@royc5936]

About to pay mine off...now I just have to pay the government rent annually to stay in it....

[@AResilientLife]

True, but at least the bank has no claim. Congrats!

[@ronaldcambridge3126]

I can definitely relate to the message in this presentation regarding the intrinsic true values associated with having a mortgage free home, but whether or not you're willing to acknowledge it, there's also significant true financial value that should be taken into account as a incentive in getting rid of the mortgage and being assured of the homeowners financial leverage. For instance, in addition to financial options available (should you need or elect to use them) ,your net worth increases, generational wealth is enhanced, not to mention the annual appreciation that occurs behind the scene in both of these scenarios. I mean, wouldn't you agree that it isn't prudent to minimize the financial value of not having a mortgage?... And then there's also the realization of different strokes for different folks. Nonetheless, a valued presentation.

[@AResilientLife]

Yes, the financial value is gigantic.

[@felixhernandez9793]

Ronnie, i have a question. I have 3 mortgages. Personal home $375K at 3.25%, Rental #1 $115K at 4%, Rental #2 $160K at 7%. Which one should i pay off first? Was thinking Rental #2 cause of the Interest rate. All 3 homes have equity and the 2 rentals are cash flowing.

[@carlosgarcia-jz3dq]

37.4% of your monthly expense on average is a very big chunk, and keep in mind that is 37.4% after you paying taxes on that money so it's even more than that you will actually have to work.

[@BuddyDog9267]

Zero tax deductions now. Just pd off. Still cannot imagine yet. Will be great, i know it! 😊

[@EvinFox]

Hi Ronnie, so you say that this is your forever home. Maybe you have done a video on this, but what is your plan for when you can't physically take care of your home yourself anymore? My husband and I just sold our debt-free home to move to another state where house prices are higher, so we now have a "small" mortgage again. We moved to a twin home (sharing a roof) and so we don't have the nice piece of our own property anymore. The HOA hires a gardener. I am missing it, so we are looking to sell and buy again in a year. But we worry that buying a place that needs our work to mow and such will pose a problem when we get old and frail.

[@AResilientLife]

My home is just 8 years old. I built it myself, acting as the general contractor, and upgraded most of the interal systems, i.e, the A/C, plumbing, etc. For instance, I put on a 40 year roof which should last longer than me. Regarding the yard, I love outdoor yard work. I do all our landscaping and also have a large vegtable garden (which I grow year-round). It's part of my retirement enjoyment and will do this as long as I'm able. Only when I cannot do it any longer, will I hire it out. Another option, I have two grown sons who would be gald to help.

[@EvinFox]

@@AResilientLife We left our 31 year old home we built and upgraded as well. It was going to be our forever home. BUT the upside is we moved with our son and his wife and kids so we could all still be together. We live on a golf course in a forest, 2 miles from the ocean. So we upgraded in a way. I guess what I'm hearing from you is to not be afraid. We could save the money we are paying a gardener now to pay for one when we need it by leaving this HOA and moving out to some land and I could get back to doing my own yard.

[@_Feed_Me]

Agree 100%! Was fortunate to pay off my house at 40 years old and with the “pay raise”, for the last 4 years, I backpack roughly 3 countries per year!

[@halfunkbass2966]

I hate debt and I added years to my life.

[@AResilientLife]

Yes!

[@carlosgarcia-jz3dq]

food, water and shelter is you only TRUE need. If you have that pretty much covered you are effectively FREE. Shelter is the big one, taking your whole life to acquire, depending on your standards, location, and family situation (yours means your wife in reality)

[@thebeliefmaker5114]

I have a ways go before I pay off my mortgage. what do you think of taking a out a reverse mortgage?

[@AResilientLife]

A reverse mortgage can be a safety net for seniors who have run out of options. (However, the loan has to be repaid when the owner sells or passes away, which means the house goes back to the bank). There are pros & cons.

[@halfunkbass2966]

A millionaire mindset of having a paid off house is just that. I'm not interested in the numbers.

[@AResilientLife]

Well said.

[@halfunkbass2966]

@AResilientLife I paid off my house in 10 years of a 30 year mortgage. There is absolutely no greater feeling in my life than knowing I didn't get it for free, I got up every morning with this painful debt that had me on the plane working in multiple states cities and even countries just to make each payment on my mortgage. I struggled through job layoffs and downsizing. The mortgage hubbering over my head like storm cloud knowing if I missed 90 days my home could be taken regardless the many years I paid my mortgage on time... That's hell, and it gives my employer too much power over my life. After secretly and quietly making extra payment meaning not letting coworkers or close friends know, I would make it my secret mission to pay off my house. I didn't want any factors of conversations to commingle with my desires to the public period. When I walked to my bank and got the pay-out to be debt free from my mortgage, the tables all turned. I now owned my house for the first time, and to this day, I remain debt free and I am not worried about losing my job nor speaking my mind on things at work that needs to be said, without the fear of over thinking as I did when I was in debt with a mortgage. Since my mortgage has been paid, I been traveling during Fomula 1 to Las Vegas, Singapore, Texas and Florida. I will never buy money again.

[@tmemore]

You still owe property taxes. Don't you? What's the difference?

[@AResilientLife]

What's the difference? About $23,000 a year.

[@joem.7621]

You never own your own home even with a paid off mortgage. Try not paying property taxes to find out who really owns your house and owns you!

[@killerbgarage007]

Roads, curb and gutter, garbage disposal, improvements,etc Somebody needs to pay for that, do we pay too much for what we get in return? Probably

[@larryherbert252]

When you have a car you carry car insurance,even after the car is paid off, my parents paid off their home and paid the property tax, home insurance, and any maintenance on the their home when needed, they never had a problem, to top that the money needed for the property tax, home owners insurance was set aside WELL before they were due

[@briand4000]

certainly an ugly bit of truth there. We plan to pay off our rather large mortgage before I retire next year with funds from sale of a rental. Monthly set asides for insurance and stupid high property tax impounds will be as much as some folks pay monthly for a small apartment. So, I'll still have a house "payment", no matter what. But, I will NOT be flushing over $150k in interest down the drain by slaying that mortgage NOW instead of letting it roll for another 20 years! A portion of that amount will now go towards keeping the tax lords off my porch.

[@pia9343]

Always someone has to mention this, known fact.

[@LimitsexpressYT]

Hello Ronnie, we are interested in being a sponsor on your channel, is there an email we can contact you at?