Facebook, Jackie, Investment Professional discussed on Chris Hogan's Retire Inspired

Automatic TRANSCRIPT

You know i'd love love love getting questions from you especially from my retired sparred book challenged group on facebook that group is growing constantly and so what i wanted to do say thank you by taking a question from the group here's what i got it's from jackie s she says can someone help us understand why we should pay off our house early our investment professionals telling us something different oh jackie okay a couple of things here why should you pay off the home early well number one it's talking about getting you to financial freedom remember as you go into retirement i want you to bring hope confidence happiness and joy but i don't want you bring any debt with you so for you to attack the mortgage and get that thing paid off that means that payment is one less thing you're going to have to even consider as you start to enjoy your retirement dream the second reason behind it is obviously it's math because now instead of you sending that payment to the mortgage company now what you can do is invest it or use it to chase down your roi q faster and even if you're on track or you already hit your number you can use that money to go to a charity i would much rather you pay off your home and donate the mortgage payment to a charity or cause that you believe in than sending it to the bank or mortgage company and again the third reason would be you and i know whenever you're making a payment you're being charged interest and interest can be over ward or it can be a penalty when you're earning interest you're being rewarded when you're paying interest you're being penalized so i don't want you penalize i want you to enjoy your retirement and enjoy your dream now if you've got an investment professional than a lot of them out there we'll say this not our smartvestor pros but the others they will always talk about being able to duck the interest from your mortgage payment which just blows my mind.

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