I’m 30, and I paid mine off last summer. I’ve had countless people tell me that that was a bad idea (mostly by those who still have one or can’t qualify for one.) But that doesn’t matter, because I knew that being debt-free resonated with my preferred lifestyle and overall profile as a human being. I’m not someone who can stomach living with debt while having my home equity fluctuate in the market knowing I could’ve used that money to remove the stress of monthly payments from my life. Yeah, seeing my $XEQT and $VFV position gain in value would be great, but not at the expense of developing stomach ulcers from stress lol. I’m aware that my home equity won’t outperform $VFV or $XEQT and I’m ok with that because the ROI on my personal life satisfaction will. I’ve spent a lot of money on experiences (outings, vacations, gifts, etc) that I otherwise wouldn’t have been able to afford if I had payments. That means something to me. I live a better life experience without a mortgage and knew I would, so I paid mine off. You’re different than me, and everyone else on Blossom. If you can live a better life with a mortgage/investing the difference, don’t pay your mortgage off. It’s that simple and only you know. As Dave Ramsey would say, “stop listening to your broke brother in law.” 😀 Check out my Montreal personal meetup Facebook group, link in my bio!
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