Why You Should Never Pay Off Your House

Everyone says you should pay off your debt as soon as possible but is it the best thing that you could do. Today I'll show you what you could use that money for and start making you financially free!

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Kris Krohn

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Kris Krohn is not in the business of providing personal, financial or investment advice and specifically disclaims any liability, loss or risk, which is incurred as a consequence, either directly or indirectly, by the use of any of the information contained in this document. Also, Kris Krohn, this document, and any online tools, if any, do NOT provide ANY legal, accounting, securities, investment, tax or other professional services advice and are not intended to be a substitute for meeting with professional advisors. If legal advice or other expert assistance is required, the services of competent, licensed and certified professionals should be sought. In addition, Kris Krohn does not endorse ANY specific investments, investment strategies, advisors, or financial service firms.


NO INVESTMENT, FINANCIAL, LEGAL OR TAX ADVICE

The contents of this video are for informational and educational purposes only. They should not be considered investment, financial, legal or tax advice. Kris Krohn is not licensed in the insurance or securities industries and is not in the business of selling, soliciting or negotiating the sale of any insurance contract, security or other investment vehicle.

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[kortyEdna]

Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?

[jimmoore]

I spent 38 years banking consumers, businesses, governments, international conglomerates and, yes, I even banked other banks and the stock exchanges. My most successful clients who had the options to do whatever they wanted were those without any debt or equity partners. Pay off your mortgage at a 20 year clip, don’t carry any consumer debt, drive a paid off car, invest at 20 percent of gross income, and enjoy life and relationships along the way.

[femckay]

This guy has a very different viewpoint than Dave Ramsey (or I) do. I’m 78 years old and retired. I’m so glad I have no debt! It gives me the freedom to do what I want. The Bible says the borrower is the slave of the lender. That’s the best advice I know!

[gmoney]

Paying off my mortgage was one of the best feelings ever. You keep yours all you want.

[nickcoppard]

I always listen carefully to financial advisors , then do exact opposite, it has served me well since I learned that,

[asmitau]

Financial freedom is underrated . Having no mortgage and doing what you want without worrying is the best thing ever !

[JK-ksxq]

I own real estate, industrial income and land. I sold all of my apartments in 2005. I'll never own anything again that people live in. Tenants think you're their nanny and they don't respect what they don't own. Most don't even respect things they do own.

[hometowncook]

He failed to mention....a bad renter can destroy all your plans

[chriswalter]

The home I purchased in 2023 has appreciated by $60, 000 since my acquisition. However, the downside is the diminishing value of the dollar. I am currently contemplating strategies to reinvest $300, 000 in the real estate market.

[jaywalk]

"I really regret paying off my house" said nobody EVER

[robjames]

Paying off my house was the best thing I ever did. Losing that $1500 a month debt has made life easy.

[Krynale]

I'm gonna listen to Dave Ramsey on this one. When my mortgage renewal was coming up, I told the bank I was paying off, the rep went from all smiles to sad. I knew I was doing the right thing

[cheehochiu]

Kris has some great content, but paying off our home was the best financial choice we ever made. No recession, economic crisis going to put my family out on the street or separate us.

[mastarinki]

As an investor and a property owner, the idea of owning a large number of properties makes me shutter. Property ownership can be expensive, tenants are a pain, and homes generally aren’t that liquid. I suspect a middle ground between the two philosophies is the way to go.

[changsterville]

Never pay off your house because the bank love this. This is actually a teaching that was created by financial institutions. This make about as much sense as saying you shouldn’t pay off your credit card.

[willynelson]

Dave Ramsey is 100% correct. Always pay your mortgage off if you can. The freedom of owning your property is unreal and the best feeling ever.

[silencefactor]

This strategy works perfectly until a negative economic shift occurs and the rental properties lose its tenants or the rental rates have to drop. “Freedom” to me looks like not having to risk bankruptcy if I lose my job.

[joycedudzinski]

Everything I own has been paid off for decades. House and cars. I have no credit card debt and my score is 860. The economy is pretty rough right now, but I feel just fine having zero debt.
Stop spending, what you don't have.

[breaklocx]

Paying off my house was the best move I ever did

[bobrussell]

100% of foreclosures happen to houses that have a mortgage