How To Be Truly Financially Free

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How To Be Truly Financially Free

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Youll never own a house in any state with property taxes miss a couple years and see if you still own it.

sportsfanatics

And then the taxes and insurance get you. My home is over a hundred years old, comfortable not fancy. Taxes and insurance $5000 a year. That’s why we had to pay it off. Now we have to try to keep it during retirement.

jillanglemyer

We're 32 and 6 payments away from having our house payed off. We're so blessed. God is good ❤

tradconmom

Big mistake to pay off a mortgage early...you will be much further ahead if you take whatever you would use to pay off a mortgage early and invest it instead. If you have borrowed money at a lower interest rate (3-6%), it makes no sense to pay that off early when you can make 9-11% in the stock market.

JohnSmith-qqjp

I was maybe 25 when I first heard the term "Living off the Interest". That subsequently became my goal. Essentially being able to pay all of your bills each month solely by using "unearned income" from multiple sources - with or without a mortgage. What matters most is being able to reliably exceed your total expenses with unearned income. If you have a $1, 500 mortgage and no other debt whatsoever you could easily have a very manageable expense profile and not be forced to work for money as long as you have adequate cash flow from dividends, capital gains, Social Security, and other income producing investments.

DaveM-FFB

Yay, we do own our house!!🏠 o mortgage is the best.

cathyjohnson

These days a home is more classified as a van, car, caravan etc You are actually quite lucky if yu have a mortgage, unless of course your house poor.

Red_

Yes and then when someone sues you they can take your home if they get a judgment. Best thing is too put it under an LLC

Iloveturtles

Over time, if the value of your home increases or if the local tax rate goes up, your property taxes could become higher than your mortgage payment.

RetroDigitalus

I'd rather invest since mortgage debt has no emotional implication for me when I know I could pay it off any day.

SilentSputnik

God willing, we should be able to pay off our house in 2 months (or after 10 years on a 30 year mortgage) and finally be debt free! 😃

motorcyclemichael

I would much rather have a payment. Have my money in Dayton producing stats and make sure that my Dylan income is 5 times what the family and then when I get enough equity? I once in a week because that home never makes money. It only costs and it's only 1/5 of what I'm bringing in. I would much rather continuously grow. The actual cash pile and if Worse comes towards insurance pays off the house. I can go get another one tomorrow.

jeffzawislak