The True Value Of Having A FULLY Paid Off Home

The True Value Of Having A FULLY Paid Off Home

I've paid off my own home (plus one of my rentals) and I want to share what different values that brings to my life! Enjoy!

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Get your financial freedom and wealth building strategies with me, Tiffany Thomas, your wealth mentor (aka Wealthy Tiffany). I talk about how I became a millionaire and financially free so you can know how to become a millionaire and know you will be financially free. I'll show you how stock market investing can be made easy and I'll help with real estate investing for beginners. I'm also part of the FIRE movement, Financial Independence Retire Early, community. One tool that has helped me become financially free is a free app, Empower (used to be Personal Capital) and I have a video all about it, "Personal Capital Review.' Let's all achieve financial freedom together!

DISCLAIMER: Content is for informational purposes only and should not be considered personal financial advice. This video and description may contain affiliate links. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

[WealthyTiffany]

Thanks for watching! 😘 Comment below, are you paying off your mortgage early??👇👇

[Zurrian-ymxo]

Bought my 3 bed home aged 22, paid it off by aged 28 ~ glad you saved the best for last Tiffany because no matter the returns from the stock market '' Peace of Mind '' is PRICELESS

[rambleonfinance]

Just paid off my mortgage yesterday. Feels great. Bring on the savings!

[pedrozatravel]

Great topic points, paying off debts give a great peace of mind

[callmeishmaelk]

That stock market and mortgage thing looks great on paper til the market collapse. 😂

[JagLite]

We built our house to have a small mortgage then made extra payments on the principle and paid it off in 10 years. We sold it and bought another house for 75% of what we made on the first house so we have no mortgage on it and we had money to remodel. Three years ago we bought a small condo as a vacation destination and future retirement home. When we sell our current house we will more than double our 401 & IRA funds to live on along with the SS check each month. We wanted a condo to retire in so we wouldn't have to take care of the yard or outside building maintenance. We can just lock the door and be gone for weeks or months at a time.

I'm not a fan of condos but the right building at the right place, with an established owner's association makes a huge difference. My view is maybe 25% of condo's I have seen or lived in are something I would want to own and/or live in.

One more thought on paying off the loan. A friend told us about converting their existing mortgage from 30 years (18 remaining) to a 15 year with higher payments in order to prepare to retire. I wondered what the difference in cost would be if he had just made the new monthly payment amount on his old loan... Yikes! It would have saved him a lot of money, and it would have been paid off in less than 15 yeas!

[ronaldcambridge]

Compliments for the versatility of your reasoning in “The True Value Of Having A FULLY Paid Off Home”. I can fully attest to validity of the stated benefits, including the rationale behind viewing the variety of ways outright home ownership can lead to lasting prosperity. And an additional benefit which may have been stated directly or indirectly in the presentation is the potential cash flow derived from eliminating the biggest monthly expense (liability) that everyone tends to have: housing cost.