'I Regret Paying Down Debt' – When Paying Off Debt Is The Wrong Decision⎜Ep 1376⎜Property Academy

In this Property Academy podcast episode, we explore when paying off debt may not be the best choice and how it can potentially impact your long-term financial goals.
Join us as we delve into alternative strategies and considerations for managing debt effectively.

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#propertyinvestment
#mortgagetips
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[mackpang]

Always pay down the debt using offset accounts when building up a portfolio as you can always draw it down when opportunity comes. You never know what will happen tomorrow if you lose your income. To me the ability to earn money is the biggest asset.

[JMichaelx]

It’s worth understanding that as long as you owe one dollar on your mortgage, the home is not yours. We don’t quite appreciate that because no one living today has faced a cataclysmic collapse of the economy. I think it’s a good strategy to own something at some point in your portfolio.

[minutesofglory]

I did the same thing, except i stayed in my current home and paid it off completely, i prefer not paying non-deductible interest loans than buying something newer and more expensive and shackle myself in debt again! no thanks

[lewisdawson]

An excellent video. I like your statement "simple decision which are obvious". But lets challenge the approach " this is would not be the right fit for someone who is older and close to retirement" This later statement is a general observation, but it is an observation based on "I" or "me" if you take the approach that you are building generational wealth and you substitute "I" with "family" then it doesn't matter at what age you take on debt.

[thedon]

What happened to your usable equity calculation? The new lower property value is $780, 000. 20% of this is $156, 000 not $45, 000.

[ispeakdesign]

Great video gents! I'm currently in the position with a couple revolving credits and one offset with 2 banks. What I don't understand here is that once I pull money out of these to buy an IP, these accounts will have very high, floating interest rates. I don't get how this makes sense to do?

[dilshanization]

The guy probably didn't anticipate the market tanking. Only in retrospect does he wish not paying off the debt.

[poobum]

i like paying more for every thing while my assets and kiwi saver continues to fall knowing that having a cup of coffe is almost a crime if i want to borrow money from a bank .. i will vote Labour knowing all these things and knowing we will still have a shortage of housing for rent ...