Pay Off Mortgage Early Or Invest?

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[Golf_With_Gavin]

I wish I was in this guys situation when I was 22. 👏🏻 👏🏻 👏🏻

[nolaerfanlo]

My wife and i paid off our mortgage jan 2019 after only 7 years in our house. GOD is good and he used Dave's channel to help bless us. Now its time for a long over due vacation with our two kids.

[davidgalstyan]

3rd year of the college still debt free. god, after watching some of the crazy videos I realize how smart my mom was forcing me to save all my income for 3 years lol

[sat_sonic]

Very good advise and an amazing 22 yr old! Keep going you’ll get there.

[RealLifeMoney]

Wow nice set up for a 22 year old! I just turned 26 and maxing out a Roth. Glad to learn this stuff early in life 😄

[KTSpeedruns]

I always consider paying off debt a better form of investment. Think about it. Pay off 20k in debt and never worry about it again, or try to invest in other ways, pay off the 20k slowly turning that into paying 25k? Wouldn't you rather have that 5k for something sooner? Meanwhile, if you invest, maybe you get 5k over 10 years, maybe you don't. Investing is always a risk, never a guarantee. But paying off debt and never having to make another payment can be a guarantee.

That 10 million dollars is attractive though, and mortgages do typically take so long to pay off. And, if you're only investing 15% of your disposable take-home pay and using any extra to pay off mortgage, doing a good balance of both is a very attractive option.

[BRuane-pwxq]

The new standard deduction of $ 24K makes the deductibility of interest on mortgage debt less valuable.

[apolloactual]

I wish I was this kid when I was 22. But I’m 28 so I better get cracking

[cvbrotha]

Thank you Dave! I have been struggling between maxing out all my investments or put just 15 percent all together and work on paying off the house sooner. My question has been answered.

[tran]

I like that idea about three things that you can do with money: Give it, Live it, and/or Invest it. I personally need to find a good balance of this three.

[Emps]

This man is doing well, and Dave's advice to invest early is good, however his math is off. 15% of this guy's income will NOT produce $1 million by age 32 - even if his income doubles TODAY and he begins investing $1250 per month (15%) and the market consistently returns at 12% without a hiccup for ten straight years, he will have $288, 000 at age 32, which is fantastic, but not 1m.

Please don't be discouraged if you get a hold of your finances, start investing 15%, and you're not a millionaire in ten years. You're still rocking it.

[InvestingHustler]

You can easily make paying your mortgage off early an investment!

Pay it off rent your house out buy another one 🤔

[FD-hcde]

I just off my mortgage 2 weeks again, have being saving my Tax return and add other saving.. Did not waiting for bank to getting more interest from me..to me when Adding the interest on Mortgage there is not equity. if one look it in that way to get equity one pay buy off quickly .. Thanks Dave Ramsey.

[greatlyg]

Wow I hope this guy continues to do well

[janefromthecountry]

Contribute 15 % to 401k first. Throw as much money on the house each month (extra principle )to pay off quickly. With regards from Wisconsin.

[KnifiNtheHeart]

This is perfect, I’m 21 in the almost exact situation to the penny just got 6k in car loans that I’m going to pay off in 3 days.

[timvanandel]

Invest for sure. Much higher return then these low interest rates

[marin]

50k, a wife and a house @ 22..? Not in Europe.

[MikeBee]

I am in a similar situation, except the age, excellent advice, thanks!

[arleneaugustahair]

Pay off the mortgage early so you can invest more money later.