Certified financial planner Sophia Bera answers: Well, the answer is that it actually depends. When it comes to debt, mortgage debt is probably the best kind of debt that you could have, but it's still debt. People like to say that you get a nice tax deduction, but it's usually overrated for the amount of money that they debt is actually costing you over your year mortgage.

If you have any other debt, I would pay that off first. If your mortgage is the only debt you have left, I would want to know more about your mortgage: Is it a year or a year mortgage?

How can I invest to pay off my mortgage and retire early? | This is Money

What is the interest rate? When do you want to retire?

I would also want to find out how you're doing on reaching your other financial priorities? Do you have adequate emergency savings three-six months? Are there any big upcoming expenses on the horizon i. Are you saving enough for retirement?

Currently, the rates on year mortgages are about. So if you really want to pay ky livestock grain market report your mortgage faster and you have a year mortgage, I would probably suggest that you consider refinancing to a stock market crash of 1929 summary mortgage and cut your interest rate at the same time.

Should I Pay Off My Mortgage - HomeOwners Alliance

That's the first step. The next step is something that's going to cause a lot of controversy, but I'm going to say it anyway: Invest or pay off mortgage uk the only debt is a mortgage, you have enough emergency savings, you're on track for retirement and there's no big expenses on the horizon then I say GO FOR IT!

Pay down your mortgage with gusto! This is contrary to invest or pay off mortgage uk most traditional financial planners will tell you.

But also remember that this is how most financial planners get paid, on how much of your money you invest with them. I didn't always see the logic in paying down your mortgage instead of investing, until one of the smartest and most well-respected financial planners I know wrote this article: Why Keeping A Mortgage and a Portfolio Might Not Be Worth the Risk.

Now, go have a mortgage burning party!

This post is part of a continuing series that answers all of your questions related to personal finance. Have your own question?

Is it still worth paying off your mortgage early? | This is Money

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