Should You Pay Off Your Mortgage Early or Invest? | Financial Advisor Explains

What's your current mortgage rate and are you considering paying off your mortgage early or investing? PS: Be aware of the spam/scam comments in the below comment section. I just purged a bunch, but there will inevitably be more that pop up. If theres ever a comment with a lot of likes but they're referring you to some random person's name and promises of returns...its a scam.

For me, the ultimate goal of wealth is freedom. In my mind, 5 million is the magic number that will allow me to worry-free at 65 years old. Is it better for me to save money or allocate a significant amount of my income to stocks in order to accomplish this goal?

I started investing in stocks at 18, grew portfolio to $600k by 33. Recently, lost over 30% and want to mitigate risks. Also, plan to pay off my mortgage and want my portfolio to grow. What should I do for stable cashflow?

Paid off my house in 2019 at 31 years old. Debt free ever since. Zero stress anymore

Mortgage rates are currently at an all time high since 2000(23 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market

The feeling of having no monthly rent or mortgage payment is AMAZING. It changes your entire outlook. That should be what retired life feels like.

My husband and I were fortunate enough to be able to pay off our mortgage early. We were both still working, and took the payment amount that we had been using to pay off our mortgage faster and we put it straight into investments. We were able to retire early because of almost 7 years of putting away what would have been our mortgage payment as well as maxing out our 401K/403B plans. Thankfully we were taught by both of our parents the value of living within our means. Thank you for your advice. I know it will help people. we are interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?

I’m paying extra on my 2.99% mortgage to achieve my goal of no mortgage by the time my kid graduates high school. It’s fun to track progress on the amortization schedule.

I was looking for someone to make this video and you read my mind. Thank you so much.

I had initially planned to retire at 62, work part-time, and save money, but the impact of high prices on various goods and services has significantly disrupted my retirement plan. I'm worried about whether those who experienced the 2008 financial crisis had it easier than I currently am. The volatility of the stock market is a concern as my income has decreased, and I fear that I won't be able to contribute as much as before, potentially jeopardizing my retirement savings.

saving this video because i wanna help my mother pay off our mortgage. thank you sir Humphrey!!

Max out 401K match and Roth IRA first. All remaining goes to mortgage principal. That’s my strategy with a 6% rate

I really like that you run actual numbers instead of just 'sharing stories'.

I paid up all my mortgages in 2yrs while working with a Financial Adviser. I’m 50 and my husband 54 we are both retired with over $3 million in net worth and no debts. We got to realize that the secret to financial freedom is making better investments.

Excellent! This is the best breakdown on YouTube!

As a CFP I LOVED to see you bring into this conversation the effect the amortization schedule has on the interest savings for paying off a home early. No one ever talks about that and your example laid it out very clearly. Keep up the great work!

Really great information, this has been on my mind lately, and been trying to help decide what to do first. Thank you!

Wow. I am blown away by this presentation. I was an insecure 49 year old on SS in January 2018 when I started buying Bitcoin/crypto. Everyone though I was irrational. Most still do. I put my income in every month and watched the value drop each month but for some reason really believed in Bitcoin and alt coins/blockchain even though I don't totally understand. Finally, the crypto market started turning around and I am astonished at the value of my crypto currency portfolio today. I engaged in active trading and managed to grow a nest egg of around 2.3B'tc to a decent 27B'tc....At the heart of this evolution is Kerrie Farrell, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment....

I say do a bit of both. I’ve been maxing out my 401 for several years now while also working towards paying off our house. We paid off our 375K loan in 12 years with a 3% rate. Now I’m dumping a bunch of cash into a brokerage account, beefed up kids’ college investment fund, and also maxing out HSA (8,200 in 2024) and investing that too (I’ve been doing that for years too). I’m 42 and hubby is 45 so we still have plenty of years until retirement, although we’re shooting to retire within the next 15 years or so. We don’t own expensive cars, toys, second homes, or designer bags. We do travel though, that’s about the only thing I’ll go all out for. But we keep it to pretty much one big family trip per year.

Great video!!! One of the most misunderstood parts about real estate is how a 30 year fixed mortgage has an amortization curve behind the scenes which front loads the interest. Love that we got an explanation here. This video will probably be criminally underrated, but definitely one of my favorites!