Should You Payoff Your Mortgage Before Retirement? Or Should You WAIT? 🤔

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Күн бұрын

Should You Pay Off Your Mortgage Before Retirement or should you wait??
Jazz Wealth Managers helps individuals and families achieve financial security through retirement planning and investing strategies. Our videos offer actionable guidance on navigating Roth IRA's, 401ks, IRAs, Social Security, and more. Whether you're approaching retirement or just getting started, learn how to make informed financial decisions for a prosperous future. Subscribe for more!
#retirement #retirementplanning #dohstr8
0:00 Should you payoff your mortgage before retiring?
0:52 Financial plan overview
3:40 Pros and Cons of each
5:38 What happens if you do pay your mortgage off?
6:15 Which do you prefer?
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Пікірлер: 22

@Jazzwealth 22 күн бұрын

Thanks for watching! Different(ish) topic today. What'd you think? Drop your thoughts below! 👇👇

@July.4.1776 22 күн бұрын

Nothing beats the paid for house if you have lost your income stream.

@Jazzwealth 22 күн бұрын

100%!

@Zorlig 22 күн бұрын

Well, besides having the money you paid the house off with, that would be a low better

@philb6079 22 күн бұрын

I did it a little before covid and it feels great. I have been able to save more but also enjoy myself more. Boats and gardening!!!

@richardsanchez5444 22 күн бұрын

I paid mine off ASAP bought in 2014 paid off in 2022. I still invested throughout the years but not as much as I could have. I'm still happy I went this route though. With work being a little unstable right now I don't have to worry about a mortgage.

@JaronPope 22 күн бұрын

Great job Rich! Keep pushing.

@Jazzwealth 22 күн бұрын

Nicely done! Very common route. As Jaron said, keep pushing!

@jefferydoherty7368 22 күн бұрын

Paid my house off before 40. Used the original payment to invest in my brokerage acct. loving it!

@stevexspeed7649 22 күн бұрын

How old are you now and much much have you saved? Do you think it was worth paying the home off or would it have been better to invest the money instead ?

@brianmanning9271 19 күн бұрын

Would have more money if you invested.

@TheTacticalathlete 22 күн бұрын

Appreciate the way you teach folks to first understand their own individual circumstances before blindly following someone else’s rules for what constitutes acceptable debt or risk. Keep bringing it.

@autobotdiva9268 21 күн бұрын

as soon as you buy it! hunker down for 2-3 years and get it done

@brucesmith6868 22 күн бұрын

Thanks Eric good info

@jacobside2656 22 күн бұрын

Way before. If possible, always way before

@JaronPope 22 күн бұрын

I agree!

@Jazzwealth 22 күн бұрын

Absolutely agree when possible! IF not possible, then it's not the end of the world. Thanks for your input!

@jesusismysavior3540 18 күн бұрын

I say almost never and use a heloc and allow your 401k to grow till you hit the rmds then pay off the mortgage.

@jamescares9003 20 күн бұрын

Let’s assume your house is paid off, would you take a loan even at 3% out on your house to invest in the stock market? Probably not. In essence, not paying off your house this is what you did

@Zorlig 22 күн бұрын

The issue here is that you used low market returns. So low in fact that they were the same as the mortgage rate. Put in more realistic inflation, rate and return numbers and the results will come out more reasonably.

@Zorlig 22 күн бұрын

Need more line 6.375% mortgage rate, 3.3% inflation, 10.5% market return (or higher) to be realistic. We're getting all the inflation in the mortgage rate so it also needs to be in the market return otherwise it's apples and oranges.