That’s silly - how do you offset the tax!
Pay off your mortgage, fund a 529 for your kids, fund your 401(k) and for g-d sake, stay away from any credit cards. If you can’t afford it, you don’t need it. Buy your car used rather than new. That’s true money management.
That's not how the wealthy operate. If you can put aside that money and make bigger returns in an index or mutual fund, it doesn't make any sense. If you're paying on a car, it doesn't make any sense. This advice is more in the interest of the banks than the audience.
Disagree. When your borrowing cost is less then 3% and the interest is deductible that makes no sense.
Not always - really depends on your current mortgage locked in interest rate verses how much you are able to earn on the money you are using instead of paying off that mortgage w additional tax breaks mortgage interest factors
Or just pay cash 🧐
Mortgage is tax shelter.
It's amazing that if you do something as simple as say; an extra 200$ a month towards your principle, that it can knock any where from 3-5 years off your mortgage...saving around 25-35k in interest (depending on your rate). That is astounding.
not a good thing to pay off the mortgage as I had heard from one of my friends a long ago no. well used to be friends no. you pay more in taxes when fully paid off.
Nervous nellies eh? Why so scared, could there be too debt, too little income, and the bubble is about to burst....... Again.
Can i offer my classes' nonprofessionals as collateral to refinance my student loans?
Who cares what he says, he also said, “don’t buy bitcoin.” Good advice........,It was only the best performing asset of the decade.
Yeah, before people realize what a scam unsustainable for profit real estate is.
They have continued to turn the world upside down. Twenty years ago a home was the safest investment possible. What changed?
Kevin who?
Then get a good lawyer to get off lightly after a drunken accident
He is a joke !!! He bought a cheap house on Marlboro St. In Boston and put down 3%. LOL
Bad advice from arrogant millionaires.
My mortgage is 3 1/2%—the interest is deductible —The money I would use to pay that off is earning 6 and 7% a year… Why would I pay off the mortgage?
Wrong. Interest rates extremely low and deduction. What Great Recession taught us, house value is not guaranteed.
This makes no sense to me. Mortgage loans have the lowest interest in America. 3 to 4 percent, tax deductible. If you take the payoff money and invest in the S&P over 30 years you will do 3 to 4 times better
Good. Wise. Advice.
Tell the government to let me use my 401k to pay off my house. The amount of money I’d personally be able to interject into the economy on a monthly basis would be profound. Wake up America!
Dude looks like dr phil
Or we can reform the mortgage rates to the median salary & inflation rate so people can stop being forced into overpriced over Inflated mortgages & rents. And why is the mortgage industry a for-profit industry anyway?
be mortgage free which means live in the house that you can afford to be mortgage free... smaller and affordable
What percentage of Americans will never own a home?
Idiotic advice. TaxDeduction