Should I Pay Off My Mortgage? 5 Reasons Why It Makes Sense

While we continued to live below our means, we didn’t have a real plan. So making a firm decision to pay off our mortgage felt good. Finally, we had a goal again.

The Behavioral Aspect of Being Mortgage Free

There is less stress and worry by eliminating the most significant bill in most households.


Guaranteed Return on Investment

By paying down your monthly mortgage, you are getting a guaranteed return in the amount of your mortgage rate.


Decrease in Monthly Expenses

It would help if you spent less than you earned and invested the difference until you get to 25 times your expenses.


Recession Protection

Another recession is coming (we don’t know when), so hopefully, people don’t make the same mistakes as last time.


Are You Really Going to Invest the Extra Money?

Again, personal finance is more of a behavioral game than anything, and many of us will find reasons to spend that money on something else.


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