Pay off your mortgage or invest? If you're pursuing FIRE, you've wrestled with this question. A paid-off house means thousands extra in your pocket each month and a lower FIRE number. But investing that same money could build significantly more wealth and get you to FIRE with a bigger nest egg. S...
Pay off your mortgage or invest? If you're pursuing FIRE, you've wrestled with this question. A paid-off house means thousands extra in your pocket each month and a lower FIRE number. But investing that same money could build significantly more wealth and get you to FIRE with a bigger nest egg. So which strategy wins?
To help you decide, Scott built a brand-new mortgage calculator that accounts for interest rates, investment returns, and taxes. He and Mindy use it to analyze real-world scenarios—high mortgage balances, different life stages, various risk tolerances—proving there's no one-size-fits-all answer.
In this episode, you'll learn:
Who should prioritize paying off their mortgage early
The hidden pros and cons of each strategy
Why your timeline to FIRE changes everything
How to use Scott's calculator for your specific situation
Different paths for those retiring soon versus decades away
Whether you want maximum wealth for a luxurious retirement or just want to quit your job as fast as possible, we've mapped out strategies for both.
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