Should you pay off your mortgage first?

Should you pay off your mortgage first or save for retirement at the same time? It can be a good idea to do both at the same time as its too hard to save saving later - but you should understand the implications of paying off your mortgage before you make the decision. Lisa Dudson explains.

Category:

Howto & Style

Tags:

• moneyTV
• Lisa
• Dudson
• money
• budgeting
• mortgage
• retirement
• savings

[NipkowDisk]

Excellent advice!!!!! A few days ago I paid off my 15-year mortgage in just under seven years. The interest saved I'll calculate later today but the added peace of mind I'm experiencing now is incalculably wonderful!!!!!!!!!!!!!!

[kevinarmstrong1]

It's about time people start coming around to the idea of paying off their mortgages. Thank-you!

[fivequotes]

sis! this is very helpful. thank you so much for your advice.

[Greenvegan828]

Why would you pay extra when that is NOT necessary?

Also, Lisa needs a diet. Trust me she must be eating the profits.

[joe700700]

@kevinarmstrong1 if everyone thinks like you...then we wont' have the dumb mortgage crisis like in the US!

[Jazzeerun]

I paid myine off early The reason(s): you can only write off 1/3 of the interest paid on your taxes and paying it off is a guaranteed rate of return vs. the risk taking stock market (mutual funds) - of which, there's no guarantee.

[maroonhighers]

Excellent,  just what the sort of advice I have been looking for. Decision made!!! thanks

[chessdude67]

Very Helpful! Thank you.