Do NOT Pay Off Your Mortgage (Update)

Do not pay off your mortgage, at least until you've watched this video. So 3 times a year I do a live video like this on whether you should pay off your mortgage or not, and mostly my opinion is do not. And there's something to update right now before you all get triggered. Um, the first reason you you should not pay off your mortgage is because let the government and the central banks do it for you. How do they do that? Well, unfortunately, they don't just give you the money. But do you know how much inflation has been since lockdown 2020? Can anyone guess in the comments the total inflation in the last 4 and a half years? It's not 2% a year, it's not 3% a year. Can you guess how much inflation has been in the last 4 years? I'll tell you in a moment. But inflation is the increasing prices, the reduction of your spending power, the devaluation of money and spending power. So there's 2 ways inflation affects you. It forces up prices, but it also pays down debt. This is all relative, of course. But inflation makes things more expensive. You know, they say, 'Well, why do the rich get richer? No one seems to know.' It's simple. The rich have assets. Assets go up over and above inflation. Property's gone up over and above inflation. Gold and silver have gone up over and above inflation. So inflation pushes prices up, and if you own those assets or sell those things at those higher prices, is you make more money. Well, you make net more money if it's more than inflation. But the other silent way of getting rich, and the government's silent way of paying off their debt, and therefore the silent way of paying off your debt, is inflation. Now, people think that inflation is a natural occurrence, you know, like the seasons. No, it's not. Inflation is genetically engineered. It is man-made. The governments and central banks control monetary policy, and they can engineer inflation. If they stop printing money today and they limited the supply of money, there would not be the reduction in value. There would not be as much inflation. If they stop stimulating the economy with a trillion in lockdown, there would not be massive inflation. So let's get this right. In the last 4 and a half years, inflation has been more than 25% in the UK in total. So if you didn't have a mortgage, you didn't get the benefit of that paydown of your mortgage. And if you paid off your mortgage, all the money you have in savings or all the money you saved has gone down 25% in value. So I've got tens of millions of pounds worth of mortgages in tens of millions of pounds plus worth of property because my equity is about 45%, loan to value about 55%. So I've got tens of millions of pounds worth of mortgages, which means that inflation of 25% in the last 4 years has paid off tens of millions of pounds of my mortgages, which is pretty tasty. Thank you, government. I know I was bitching and moaning about them, but I figured this out 18 years ago, so I was able to play their game. So reason number 1 you don't want to pay off your mortgage is because inflation is high, or has been since lockdown, and it's not slowing down anytime soon until all this debt's paid off, which will never happen. So you want inflation to pay your mortgage off for you. Also, the benefit of getting a mortgage to own your own home, inflation pushes the debt down and pays it off for you, but it also pushes up the value of your asset. So you win twice. So anyway, they're the first or second, two reasons why you shouldn't pay off your mortgage. The second one is what you can else do with the money. What you can else do, listen to my English. So there's an opportunity cost of money that pays down your mortgage. Alright, it might save you a little bit in your payments, not much probably. But you know, if you're overpaying a couple of hundred pounds a month, or you're just paying interest of £1,000 a month, what could you do with £1,200 a month? You could probably buy another property in a year, an investment property. You could buy gold, silver, Bitcoin, you could start a business. So this high opportunity cost of paying off your mortgage because you can get a better return with the money. That's the second reason you don't want to pay off your mortgage. And the third one, which is the update part that I put in the title, is that it looks like interest rates are coming down. And sort of a basic rule of money is that the less the interest, the more you want to borrow. The more the interest, the less you want to borrow. So when interest rates were virtually zero, like what, 0.25%, I mean, you should have borrowed the whole world because the money was basically free. I know you know that now because interest rates have gone up, but of course, if interest rates are— I mean, 6% is actually the long-term average. People think that interest rates are really high now. They're not. They're lower than the long-term average. But I would say as soon as it starts to go over 6%, you've got to seriously consider that as a high cost of debt and you may not want too high a mortgage. So it looks like interest rates are coming down. Banks are actually, for the first time in a long time, competing with each other. There's mortgage wars, which means some of you with new mortgages could be paying in the 4s percent, which long term, that is cheap money. So for all of these reasons, you do not want to be paying off your mortgage and there's a lot of people that tell you that that's what you've got to do, but it could take you 35 years. You could blood, sweat, and tears, and, you know, sacrifice all kind of general good quality of life and living to try and sweat to pay off this mortgage. And bang, what are you left with? Not much. Oh, and then you die, and then inheritance taxes, 40%. So anyway, let me know what you think in the comments. Do you agree with my statements? Do you have— do you want to challenge me? Do you think there are any reasons or instances where you should pay off your mortgage? I would say if your interest rate is going from variable and it's 2— sorry, fixed— and it's 2% or less up to variable and it's going to be 6% or 8%, then, you know, like I said, once those interest rates get over 6%, you could think about it. Okay, quick summary then. Reasons to not pay off your mortgage: Number 1, inflation is paying off for you and your mortgage has gone down in value by 25% in the last 4.5 years. Reason number 2, interest rates look like they're coming down. And then reason number 3 is opportunity cost of the money and where else you could invest the money. You should be able to beat what you save. You know, if you pay £1,000 a month on— well, if you overpay a couple of hundred pounds a month, it's going to take you 15 to 20 years to really notice any sort of decent reduction in your payments. But if you invested that into assets that produce income, you know, that could give you financial freedom in 10 or 15 years, perhaps, if you invest it well. Okay, so give me a yes in the comments if you want more of this kind of content from me, because there's a lot of contrarian money investing tips that the world needs that they're not getting because they're being hypnotized and indoctrinated by the central banks, the governments, and the schooling system, which I believe are all kind of one big globalist machine. And I'm here to give you financial freedom, to teach you to make, manage, and multiply money, build multiple streams of recurring income, be an investor. And you don't have to be some kind of Warren Buffett, you know, just part-time investor to manage your money well, teach you how to manage your money well and maximize your returns, get your tax bill down. That's something I'm big into, helping you, you know, legitimately and legally get your tax bill down. So if you'd like to achieve all of this, I've actually not done this on a Facebook Live, I don't think ever, but if I have, it's literally like once or twice in 15 years of being on Facebook. And that is I'm going to invite you to my Moneymaker Summit Live. So I have a live event that we occasionally run. It's one of our flagship events, it's called Moneymaker Summit, and it teaches you to make, manage, and multiply money, build multiple streams of recurring income, teaches you what, probably the 6 best business models for '24 and '25, this year and next year, low cost, high speed, start at home, just need a phone and an internet. There's talks on the 8 ways to build vast wealth. There's talks on how to invest. There's talks how to leverage media, social media, build up the personal brand, I've got a section where I turn the cameras off and I talk about how to save tax. There's what, 6 multimillionaires speaking at this event. It's a deep dive. There's bonus Q&A sessions with the millionaires. There's VIP upgraded tickets to get dinners with the millionaires. So here's what I've done for you. I've got a handful of subsidised tickets, i.e., ones I'm going to pay for you, and then I've got massive discounts on my VIP and upgraded tickets. You can choose your ticket level by going to tiny.cc/mmslive. Tiny.cc/mmslive, as in Money Maker Summit Live. I've just put the link in the comments. Now, warning, some of our events we intentionally only have 100 people Some of them we have 200 people. Bearing in mind I have 3 million people that follow me on social media and subscribe to my email list, you're going to have to be damn quick. And I look to subsidize maybe about 20 people per event. I'm not giving away free tickets, I don't like doing it. Um, free advice is worth every penny, but when you pay, you pay attention. But my Rob Moore Foundation subsidizes and covers the costs for about 20 of you per event. That's not a lot, bearing in mind on my lives 50,000 people each day have been, you know, watching each live that I've done. So if you go to tiny.cc/mmslive, um, you can either register for the free ticket, and if you're in one of the first 20, uh, oh, by the way, you've got to show commitment. It's not— I'm not just not giving these away to anyone. You've You've got to show up. I've got to know that you want to do this. I've got to know that you're coachable. By the way, I'll be there. I'll be doing about 5 keynote speeches. We've got a billionaire coming to one of the events to be a keynote speaker. So provided you're committed and you're in the first 20, I can give you a subsidized ticket. My foundation pays for that. I mean, it's not the best ticket. The best tickets, you can upgrade to dinner with me and my 6 multimillionaire mentors and friends, champagne reception, Q&A sessions, private ones with me and my multimillionaire panel. So the upgraded tickets, which there are big discounts on them right now, they're probably the better, the better offer. But, you know, it is the cost of living crisis. A lot of people are struggling and I want to kind of do my bit. So I do not offer this on Facebook where you are here following me. This is completely separate to Rob.team. It's a live event in person. Experience the energy, meet the multimillionaire speakers, learn the best business models for this year and next year, the ones that maybe we can't always share on social media because, you know, we're saving a lot of tax and we're doing strategies and tactics that I quite frankly don't want my competitors to know. Some of the sessions, there will be no recordings. And I've only got, I think, 2, maybe 3 dates left for the whole year. I mean, haven't even planned any for next year yet. So go to tiny.cc/mmslive. Either be one of the first 20 to get the free tickets or the small upgrade and get the better seats at the front, you know, first access, meet the millionaires, have the dinner with the millionaires. There's some bonuses you'll see on the page, just depends on your choice. You've got to be quick. I don't know how many tickets are left. I know with the amount of people that are watching my Facebook Lives at the moment, these will be gobbled up. Because here's the thing, what you're learning at school and at university, and actually a lot of the stuff that these young broke kids are teaching on TikTok about money, and what the system wants you to know, and what you hear on the news, is the opposite of what you want to know to get rich. You want to observe the masses, do the opposite. You want to be greedy when others are fearful and fearful when others are greedy. And in the last recession of 2008 and '09, I bought dozens of properties and became a multimillionaire. And if I could go back, I would buy hundreds if I could. I'd borrow money from the whole world to buy properties back then. And I'm seeing the cycle come all the way around full circle again. I'm seeing similar signs. And a lot of people will tell you to pay for your own home. Oh, I have a house mortgage-free. Yeah, that's security and retirement. Well, except you could pay up to 40% of that in inheritance tax. So of course the system would want you to pay off your house. The system wants you to take 35 years to pay off your house. They want you to pay 2.5 times the value of the house in interest. They want you to be in debt forever. They want you to pay most of your earnings in tax. And then you've struggled your whole life, you've got a few of these assets finally paid off. And all you've really been paying in your life is interest and debt, and then 40% of it is in inheritance tax. So of course they want you to do that. I don't have repayment mortgages on many of my properties. I do on the ones that I have to, but many of my properties I'll just pay off, I'll just pay the interest and I'll let the government and inflation pay off my loans for me. That's what I've taught you in this video. There are 3 main reasons. You do not want to be paying off your mortgage right now. And I've shared them, so go back and watch the recording and replay. Thanks for tuning in. I will meet you personally, I will sign your book if you've ever got any of my books, Money Matrix, Money. I'll sign your book at the Moneymaker Summit. And I'm gonna subsidize 20 tickets. The things that we teach are practical ways to make money in the new economy. So we've got an AI masterclass on the Moneymaker Summit. Summit, you know, and some practical, simple ways to either have a business in AI or use AI in a business. Save time, save money, make money. And we teach you how to build multiple streams of income without getting overwhelmed. We teach you the right business models for you. We teach you how to build your online brand persona, whether it's your face or not. Um, so basically the modern ways of making money, we teach you at the Moneymaker Summit Live. Dates are on the page, tiny.cc/mmslive. There's some good basic details there. The sexiest section, you're going to love this, is the 90 minutes I do when we turn the cameras off where I teach you all the ways to reduce your tax bill down. I have saved tens of millions in tax legitimately. Obviously I wouldn't be saying that on a live or teaching you in a room you know, if I wasn't confident that anyone could do this. I don't teach schemes and scams. I teach stuff that the government want you to do, but they don't want everyone to know that you're doing it. And I'll teach that at Moneymaker Summit. So see you there, tiny.cc/mmslive. Don't miss this opportunity because I don't offer this on Facebook.