Why You Should Actually Pay Your House Off Early
From Yahoo Finance: 2025-04-18 14:01:00
Money experts often discuss how high-interest debt like credit cards can hinder wealth building, but mortgage debt is often considered “good debt” due to property appreciation and fixed interest rates. Financial experts like Rachel Cruze advocate for paying off mortgages early, emphasizing the importance of financial freedom and peace of mind.
Cruze challenges the common advice to invest excess cash instead of paying off mortgages early, pointing out that most people wouldn’t borrow against their homes to invest in the market. While mortgage debt may not be as damaging as credit card debt, the idea of being debt-free and having financial freedom is a powerful motivator for many.
Ultimately, the decision to pay off a mortgage early depends on individual financial goals and comfort levels with debt. While mortgage debt is seen as a liability, the idea of owning a home outright and being free from mortgage payments can bring a sense of liberation and security that many find appealing in their financial journey towards wealth and retirement.