Anyone who has read this blog knows clearly that I want you to be debt-free – including the mortgage!
Think about that for a minute … Debt-free INCLUDING the house. How much money goes out to pay debt and the house every month? For the average family it is somewhere between $1,000 and $3,000 every month! What would you do with that money if it did not have to go to service that debt?
A www.JosephSangl.com Financial Hero, David Bach, recently wrote an article on Yahoo! Finance about "How to save big on your mortgage".
In the article, David makes a fantastic statement. David writes …
I'm often asked if it makes more sense to prepay aor invest the money in stocks and bonds. Rather than ponder which will get you a higher return, I think the better question is which investment decision will free you financially and allow you to retire earlier.
In my 9 years of experience as a financial advisor for, the clients who paid their debts off early — specifically their mortgages — retired 5 to 10 years before those who didn't.
I ran the calculations for a $150,000 30-year mortgage with 6.0% interest:
I just love the idea of all of us reading this blog being debt-free including the house!