Millionaires Say: Pay Off Your Mortgage Early… or Invest? 🤔

Should you pay off your mortgage early or invest the money instead? Let’s look at the math.👉🏾 A mortgage feels like a burden, but paying it off early usually isn’t the best financial move.👉🏾 If your interest rate is 7% or less, history shows you’ll likely come out ahead by investing.👉🏾 The stock market has averaged about 10% annually over the long term. That 10% growth beats the 7% you’d save by eliminating your mortgage.Some people still choose to pay off their mortgage early for peace of mind — and that’s okay. But if your primary goal is building wealth, the numbers point toward investing instead.📌 Save this video – Financial Independence Explained. #investing #financialfreedom ▸▸▸Enroll in our Stock Market Investing Course for Financial Independence and Retiring Early: https://www.ourrichjourney.com/investingforfire Enroll in our new 21 module, 4-plus hour stock market investing course with more than 30 handouts of summary notes, homework assignments, and resources. Learn how to research and select investments, how to determine your asset allocation, how to rebalance your portfolio, how to optimize your investments for tax purposes, how to automate your investments, and much more (including a 19-page Investment Plan to work on)! ▸▸▸Enroll in our FIRE Master Class: https://www.ourrichjourney.com/firemasterclass This FIRE Master Class is designed for people interested in pursuing financial independence and retiring early. In the Master Class, we explain how to live off of your investments during early retirement; how to withdraw money from your investment accounts to support your living expenses during retirement; how to calculate your FIRE number; new and creative ways that you can save money; new side hustles for making money; how to invest in the stock market and in real estate; we discuss healthcare options in retirement . . . and MORE! ▸▸▸Enroll in our How to Move to Portugal Course: A Step-By-Step Course to Relocating and Living in Portugal: https://www.ourrichjourney.com/movingtoportugal This course is designed for people interested in moving to Portugal. In the course, we explain the visa process, the documents you need to submit for your application, and the step-by-step process that we took to obtain our visas; we explain the residency permit process and how we obtained our residence permit here in Portugal; we explain the process for buying and renting a house in Portugal; we discuss healthcare, school options, and setting up NIFs, we explain taxes here in Portugal, and MORE!Books that have helped us on our Financial Independence Journey-----The Bogleheads' Guide to Investing: https://amzn.to/2UjEc4jThe Intelligent Investor: https://amzn.to/2MKGokhA Random Walk Down Wall Street: https://amzn.to/2zIVI8pThe Book on Rental Property Investing: https://amzn.to/2UkwgQ6Building Wealth One House at a Time: https://amzn.to/2ZJQuDW▸▸▸Follow us on Instagram: https://www.instagram.com/richjourney/▸▸▸PLEASE SUBSCRIBE:DISCLAIMER:We are not financial advisors. Our videos are for educational purposes only and merely cite our own personal opinions. In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary. Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won't experience any loss when investing. Always remember to make smart decisions and do your own research!AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at no additional cost to you, we may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact our personal opinions.