Becoming a Millionaire After Becoming Mortgage Free

Becoming mortgage free is a huge milestone! Did you know it can help you become a millionaire too?

Chris Luger paid off his mortgage early, invested seriously and now he's on the cusp of millionaire success. Find out how he did it!

CHAPTERS
0:00 Intro
0:47 Mortgage Free 3
2:08 Why did you want to become mortgage free?
3:00 What were you hoping mortgage freedom would bring you?
4:50 How did your divorce affect your mortgage payoff process?
8:00 How has mortgage freedom accelerated your net worth growth?
9:58 How did mortgage freedom help you accelerate your rental properties?
13:27 Why pay off your mortgage instead of buying more rentals?
15:58 What is one step a person can take towards becoming mortgage free?


#PaidOffHouse #MortgageFree #MillionaireSuccess #DebtFreeCommunity #FamilyFinance #PersonalFinance

RESOURCES

OTHER VIDEOS TO WATCH

10 Incredible Benefits of a Paid Off House

Life After the Mortgage is Paid Off

We're Mortgage Free Millionaires! Now What?

MARRIAGE KIDS AND MONEY:

This award-winning blog, podcast and YouTube channel are dedicated to helping young families build wealth and thrive. Each week, Andy Hill interviews personal finance experts, families who've achieved financial independence and debt-free young parents.

BIO - ANDY HILL:

Andy Hill is the award-winning family finance coach behind Marriage Kids and Money - a platform dedicated to helping young families build wealth and happiness.

Andy's advice and personal finance experience have been featured in major media outlets like CNBC, Forbes, MarketWatch, Kiplinger’s Personal Finance and NBC News. With millions of downloads and views, Andy’s message of family financial empowerment has resonated with listeners, readers and viewers across the world.

When he's not ""talking money"", Andy enjoys being a Soccer Dad, singing karaoke with his wife and watching Marvel movies.


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CREDITS

[BudgetingTheBacon]

Wow, this is so motivating!!! We're $27K away from paying off our mortgage and should be finish in less than a year. I feel like when it's paid off for me the possibilities are endless!

[nettoyageadriance]

Love this channel! Why did I not know about this? Paid off mortgage over 5 years at 38. 39 now and just bought our first rental investment unit. Zero debt, $510k net worth. Couldn't imagine any other way. No stress.

[heavymetalmoney]

Thank you so much for including me in your Mortgage Free series! If I can become mortgage free, anyone can.

[mateoboschify]

Paid off our house this spring and it's amazing. Just turned 42. Being a millionaire is cool but being a debt free millionaire is awesome. If I did it, anyone can. Still drive a 25 year old pickup truck. Minimize things that lose value and stay away from credit and it is easy to save money.

[Nico_El_Tornado]

I'm mortgage free at 35, took 9 years to pay off my house if you wanna interview me and how I did it.

[ericwilliams]

This guy sounds like what I’m doing at 55. Good job

[TheFirstRealChewy]

1:36 While important, I don't factor in the equity of my home. Its just something I buy to lower my cost for shelter.

[Kika-rntq]

I love ❤️ this interview. I watched it three times. It's amazing how much this gentleman has progressed. I am giving our family the goal of paying our mortgage in 2 1/2 years. We followed the baby steps to get out of debt and all we have is the house. I also 💕 your FIRE 🔥 content. I am hoping to be able to reach it soon but I started a little late. This interview gave me so much hope thank you!!

[anthonyplaysbass]

31, from Melbourne Australia.

We borrowed 480, 000 in December 2019 with a 120k deposit on a 600k home. The home value now is probably 720-750k or thereabouts.

We are sitting at 347k left on the loan, and are due to finish it within about 3 years from now, probably sooner. Hoping to be mortgage free by 34 years old, can't wait.

[JosephDickson]

13:24 the math might not work out. However, fewer monthly expenses and less stress has real value. If someone loses their income they can still relax while looking for the next career opportunity.

[spoonman]

While I applaud the first move, I have to disagree with the quick retreat back into owning multiple mortgages (because the properties aren't fully yours yet). Snowballing what was your mortagage along with what you were putting against your home would have gotten you to the same place you'll likely be in a few years but with less risk. I've run the numbers both ways for us, and while I understand the Bigger Pockets method, I disagree with the premise. To each their own. Best of luck!

[firestatus]

seems like a genuinely nice guy! happy for him. Thanks for sharing!

[bygone]

Unfortunately not much to take from this video. How to pay off your house. Step 1: make normal payments Step 2: inherent enough to pay it...

[dailytheology]

His house/school taxes and insurance are likely more than most people's house payments, $468k prop value... Paying off the house is great and 100% needed but the payments never end.

[tesoro]

I think it's great he got the home paid off. He paid down 45k in 3 years which is great. Realistically it would have taken 10 years or so to pay his house off without selling a home to do it.

[niccrock]

His spouse who left…. I wonder how that person feels that now he has not 1, not 6… but TEN properties!

[trevoragnew]

for a young 20-30 year old person in Canada homes START atleast 600, 000. For a shack. If you’re single and have no responsibilities. Anything else, 1 million starting plus.

[tarikviaer-mcclymont]

Once I heard he cheated i exited the video

[MechEB]

Interest rates where they are now though... Oof. Perfect time to have started this process was several years ago.

[eBuddy]

After paying off your mortgage, invest in index ETF to retire early, like my wife & I did.