5 Reasons to Pay Off Your Mortgage

In this video The White Coat Investor does a Deep Dive into 5 Reasons to Pay Off Your Mortgage.

The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!

00:00 5 Reasons to Pay Off Your Mortgage
01:01 Investing in Taxable Accounts
02:13 Lower Marginal Utility
02:46 It's a Luxury
03:25 Deflation Protection
04:12 Less AUM Fees

[michaeliverson]

The monthly budget gets incredibly easy after the mortgage is gone! Highly recommend.

[doc]

Agree. Though some will say it is "good debt" it is still debt nonetheless . . . pay it off if you are able.

[davidfolts]

Thanks very much, White Coat Investor; your content is always top-notch!

[linneasimchah]

Once annual income is high enough, it's just a matter of personal preference b/c all options become available. We paid our new house off within a few years because why not. One less thing to keep track of on our to-do list.

I actually enjoy our city new apartment rental better than our house in many ways. No maintenance/repair work or costs, no property taxes, no HOA dues, no condo association dues, no insurance, no lawn and landscape responsibilities, no snow removal work. We are well diversified in our other investments, and this one rental (i.e. no equity) is a true luxury of convenience.

[hb]

I wonder how many people pay off the mortgages and then self insure their house. It’s getting really expensive to have home insurance. Edit: typo

[davidb]

don't agree, even if you have high interest rate. Just refinance when rates go down and invest the funds. You can make over 5% in the market with ETF's. I understand the reasoning behind it but unless it makes you sleep better at night, I would recommend you invest over pay off your mortgage. Good video though

[ps-tmlz]

Can you please comment on tax deductions you get on interest paid on home mortgage? I was told by my CPA that you can deduct full interest payment and property taxes. Thanks

[papabear]

Paid off my house. Live below means. Continue to invest in my taxable account.