Pay off your mortgage or invest? If you’re on the path to FIRE, you’ve probably asked yourself this question. Without a mortgage payment, you could put thousands more in your pocket every month, and your FIRE number would decrease significantly. On the other hand, investing all the money you could have spent on paying off your mortgage may allow you to build considerably more wealth and reach Fat FIRE with more assets to your name. So, which move do you make?Mindy and Scott are coming on to debate this common investing question. On team “Don’t pay it off!” is Mindy, who just recently made a six-figure profit by NOT paying off her mortgage. How did she do it? Stick around to find out. Scott, who just bought his recent home in cash, is pro-paying off the mortgage (for some), as it may lead you to FIRE much faster than you thought.In this episode, Scott and Mindy discuss WHO should pay off their mortgage early, the pros and cons of investing vs. going debt-free, and why one move may be MUCH better for those closer to FIRE. Want more money for your future retirement? Sick of your job and want to quit quickly and retire on your terms? We’ve got options for BOTH!In This Episode We CoverWhether you should pay off your mortgage early or invest insteadHow Mindy made a six-figure stock profit by NOT paying off her homeWhy paying off your low-interest rate mortgage may make sense EVEN in 2024How those close to retirement can shave off a BIG portion of their FIRE number and retire nowWhether you should keep cash in a high-yield savings account instead of paying down a low-rate mortgageOther BIG cost-saving benefits of paying off your mortgage earlyAnd So Much More!Links from the ShowBiggerPockets Money Facebook GroupNetwork with Other Investors on The Path to FIRE Through the BiggerPockets ForumsFinance Review Guest OnboardingJoin BiggerPockets for FREEMindy on BiggerPocketsListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Find an Investor-Friendly Agent in Your AreaFind Investor-Friendly LendersBiggerPockets Money GroupBiggerPockets Money 543 - How the “Middle-Class Trap” Stops Your Early Retirement00:00 Intro01:27 Why You SHOULDN’T Pay It Off05:35 Why You SHOULD Pay it Off 15:07 Keep Cash in the Bank?20:54 Big Benefits of Paying it Off 27:51 What Would You Do?29:29 Scared of Stock Performance? Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-554Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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