Ep. 68 – Should You Pay Off Your Mortgage?
Paying off your mortgage is more than just a financial decision. It can be an emotional one too.
Perhaps it’s one of your long-term goals to live mortgage-free or you want to go into retirement without the burden of large monthly payments. Whatever your motivation is, it’s best to find out the best way to tackle this financially before you make a decision.
In this episode, we share the key things you need to think about when it comes to paying off your mortgage. We also discuss the importance of cash flow and how opening a home equity line of credit could be the solution you’re looking for.
In this episode find out:
- Which savings account is best to use for paying off your mortgage
- Why cash flow is king in retirement
- What to consider when thinking about investing vs. paying off your mortgage
- When to think about refinancing
- What to do when paying off your mortgage will wipe out your savings
- When to open a home equity line of credit
Tweetable Quotes:
“It is nice not to have a mortgage, but sometimes it doesn’t make sense for everyone” – Murs Tariq
“Paying off your mortgage isn’t just an emotional decision” – Radon Stancil
Important Links & Mentions:
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.
To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to morgan@pomwealth.net.