The ULTIMATE Guide to Paying Off Your Mortgage Early 💰 | BudgetDog

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[azteca]

I was single at the time. I managed to save 3 months of emergency funds. 2 yrs after I moved into my house. I was diagnosed with cancer. The following year as I was going back to the hospital and doctors. To check for any remaining cancer cells. New management came in, I lost my job. Fortunately I had that money saved up. I was cleared from Doctors and was able to find another job 2 months later. I cannot stress enough about having an emergency funds. And I did get a 30 yr mortgage. Made extra payments as I could. Stopped making extra payments, when I was going through this. The mortgage was paid off in 19yrs. I was told I'm losing out in investing. But paying off the mortgage gives me a peace of mind, in case something else happens.

[jsr]

You and your wife should be really proud of yourselves for the personal and financial decisions you’ve made. Your are such wonderful parents to your baby.

[kmeadowsb]

Appreciate the call out to the personal freedom/peace of mind that may come in paying off a mortgage. We also have a 2.x% mortgage, investing and financially prepared. But, we are in our 50’s and in a second marriage, ie. “starting over” w/ a newer mortgage. Even w/ a HYSA the monthly obligation from a mortgage, especially w/ high real estate taxes is an emotional burden that requires the current scenario of income remain stable, w/o knowing what the future may bring that impacts that reality. 🙏🏻

So grateful you shared your story and that you were prepared for Logan… she is so beautiful and so blessed to have such a wonderful dad and mom!

[Robcar]

Wow. Really enjoyed this video. Good stuff my friend. And welcome to Dallas.

[thehandsurgeon]

This is a fantastic video And teaching experience. I think people don’t really appreciate the other aspects of making this type of decision and you have put it into great perspective. Thank you!

[shawnbrennan]

Peace of mind is definitely underrated

[caioalmeida]

Very helpful…. 100% agree with everything you said

[lukem]

Appreciate the info. Debating this myself at 3.8% with 230k on mortgage. Math doesn’t make sense but personal reasonings do. Any debt sucks but when you spoke about 10% Not just 10% though, with compounding interest that money you put into house would have been worth millions. High yield account also need to pay taxes not a big plus compared to mortgage percentage.

[Twbrooks]

If you have a high income and can pay off the home quickly like in your situation I see no issue with the approach. I just worry some people take the path of paying a little above their normal monthly payment. If the decision to pay off early takes a 15-20 years of a 30 year mortgage, it wouldn't really make sense to pay off early (if only saving 10+ years). In that case time in the market would have been better with the usual cost averaging into the market vs prioritizing paying off the home early. Either way, I think your situation was a unique one where I wouldn't have any issue paying off early. Just may not be the ideal for middle class earners who can pay it off very quickly.

[Lionheart_He-Man]

Great job paying off your mortgage early bro! Now you are better equipped to pursue your passions and provide the extra care for your daughter! 🤴

[shawnbrennan]

For folks considering this now, you also need to guess what Congress will do in 2026+ as the trump-era tax rates and standard deduction revert to the old numbers.

[BNA_Est.]

Clicked for the advice. Stayed for the Girl Dad energy 😂

[stoveguy]

Buy a house. It doubles in value in 5 yrs? World is messed up. It shouldn’t double in 5 years. Young buyers can’t afford house now as it’s 4x their income. Or 5x, or 6x. Something’s not right here