Paying Off Your Mortgage Early Is Not Dumb

I have never met anyone with a paid-off home that regrets their decision.

I paid almost $9,500 in interest last year on my mortgage.

Personally, I have flip-flopped on this debate many times. There are times when I throw extra money at my mortgage and other times when I just pay the minimum.

The argument is that you earn a lot more by investing in equities long term than what you lose in interest by paying down your mortgage. Those in the financial space state that you can use your equity earnings to pay off your home in retirement. If I do that, by the time I am done with my mortgage I will have paid over $150,000 in interest.

I understand that in twenty years, I can more than double my investments even if I never deposit another cent.

However, in two years I have lost 7% on my equity investments.

I know that we are in extraordinary times right now and that this isn’t the most accurate representation of the stock market. Nonetheless, I question why people say it is dumb to pay down your mortgage? I am a long-term investor and I know that my money has time to recover from these…