Should you pay off your mortgage first or save for retirement at the same time? It can be a good idea to do both at the same time as its too hard to save saving later - but you should understand the implications of paying off your mortgage before you make the decision. Lisa Dudson explains.
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Tags: budgeting, Dudson, Lisa, money, moneytv, mortgage, retirement, savings
I paid myine off early The reason(s): you can only write off 1/3 of the interest paid on your taxes and paying it off is a guaranteed rate of return vs. the risk taking stock market (mutual funds) - of which, there’s no guarantee.
It’s about time people start coming around to the idea of paying off their mortgages. Thank-you!
Excellent advice!!!!! A few days ago I paid off my 15-year mortgage in just under seven years. The interest saved I’ll calculate later today but the added peace of mind I’m experiencing now is incalculably wonderful!!!!!!!!!!!!!!
Excellent, just what the sort of advice I have been looking for. Decision made!!! thanks
there is a secret that the mortgage company dont want anyone to know u can pay off a 30 year mortgage in 11 years or less…simply by calling ur mortgage company and telling them u want to pay ur payments weekly!! thats right weekly, if ur mortage is $1200 a month ..send $300 a week most of the money goes into the principal that way..and remmember some months have 5 paydays on them..im doing it myself, theses banks are a bunch of rip-off they dont tell anyone u can pay it that way
Very Helpful! Thank you.
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