Do NOT Pay Off Your Mortgage

Do not pay off your mortgage. There are mortgage wars going on. Hallelujah, praise the Lord. Finally, mortgage companies and banks are having to compete with each other, which is exactly how it should be. And mortgages are now dropping in the 4s percent now. And people often have a bit of a— they get pissed off with me saying it straight. When I talk about not paying off your mortgage. There are some extremes which I'll quickly tick off, but for the most part, it is not financially good for you to pay off your mortgage because of opportunity cost, because of inflation, and a couple of other financial benefits that smart people with money know and everyone else doesn't. Now, you've been led to believe that buying a house is like a great savings account. And so you should work really hard and squirrel for 35 years to finally pay off this mortgage. So you have this asset that you can retire on. This is what you've been led to believe. Except now there are 35-year mortgages, which take you beyond retirement, then statistically, you've got 3 years of retirement, and then you die. And then they take 40% of it back, having charged you 2.5 times the value of it in interest. This is what the banks do, and this is the propaganda that's been pumped into you since the last generation. I've just walked through a spider's web. So you need to immunize and protect yourself from this information that has an ulterior motive for the banks to consume from you. I think the banks want debt taxes, interest, and compliance. They're the 4 things the banks really care about: debt, interest, taxes, compliance. So you have to figure out how the banks make their trillions and play them at their own game. So why shouldn't you therefore pay your mortgage off when you've been led to believe that's the best thing to do? Well, number 1, let the government and the central banks pay it off for you, because inflation has been over 25% since March 2020 lockdown. Do you know what that means? That means if you held any mortgages, the governments and central banks essentially paid your mortgage down by 25 to 30%. If you had a £100,000 mortgage, relatively, they could have paid £25,000 to £30,000 of it off for you because of inflation, because of all the furlough money they pumped, the trillion they had to pump into the economy, all the massive money printing that they did, and because they're trillions in debt. So do you think the banks want to pay off their debt by paying trillions or hundreds of billions down every year? No, because they can't afford to. So they'll just control inflation, eke it up, print more money, and devalue their own debt. Now, when they devalue their own debt, which they are selfishly incentivized to do, that devalues your debt. So if you don't have any mortgages, Your cash is going down, but they can't pay off your mortgages for you because you don't have any. So you've got cash and equity, but it's being eaten by inflation. So here's what you do. You get a mortgage you can afford, and right now mortgages are in the 4s percent. And then, by the way, don't stretch yourself. I'm not saying that. And then the extra money— I'm getting interest-only one. And people say, oh, well, if you haven't paid it off, that's a problem. Well, if you get a 25-year interest-only mortgage, your $200 grand property will go to $400 grand and then probably $700 grand. But let's say you had a $150 grand mortgage on it. That wouldn't have gone up. In fact, it would have gone down with inflation. So $150 grand mortgage on a $200 grand house in 25 years, though the mortgage is still $150 grand because you haven't paid it off. You just paid the interest. But relatively, that $150 grand has probably gone down to, I don't know, $60 grand. But your property's gone from $200 grand to $400 grand to probably $700 grand because they double every 12 to 15 years. So you want to let the central banks, the governments, and how they manipulate the money system to do that for you and to pay your mortgage off for you. And then the extra money you would overpay to pay your mortgage off, you take and you invest in other assets. And then as those assets get big enough, you live off the income, and then the income can pay off your mortgage, and then your house is free, and you've got assets that are producing income. That is how the rich invest. People say all the time, oh, it's not fair, the rich are getting richer, why do the rich get richer, it's completely wrong and corrupt that the rich get richer. There's one simple way that the rich get richer. It's nothing to do with governments and central banks and banks and billionaires being evil. It's nothing to do with greed and corruption. I mean, that's actually driven by the central banks and governments because they create regulation, so they control behavior. So you can't really blame the rich because the rich are only working in the system that the governments have created. Anyway, it's going to answer my own question there, but oh yeah, the rich get richer because of one reason: assets. Assets go up with inflation and assets go up over time. And so if you've got assets, you get rich. And every time there's inflation, it eats your debt down, but it pushes your asset value up. So imagine you own a real estate portfolio and inflation is 5%. It's probably pushing your portfolio up 5% to 8% a year, but it's pushing your debt down 5% a year. So your equity starts at this, and it goes up and up and up because the asset value goes up with inflation and the debt goes down with inflation. And right now there's mortgage wars. Where they're all fighting with each other to get your money. And this is real, and this is advice I learned from millionaires and billionaires 18 years ago. This is what the millionaires and billionaires know that the masses do not. So if you heed this advice, then I reckon you're going to get more wealthy more quickly, and you're not going to be under the control of the system that just wants maximum interest, maximum debt, maximum taxes. They want inheritance tax when you die. So obviously they want you to own a house when they die. Because think of it from their point of view. They've trapped you in on buying a house. It's a debt trap for your whole life. You've paid them 2.5 times the value of it in interest. And then they can take 40% of it back in inheritance tax. It's a clever fucking model, but not a model that I think is good for humanity. So give me a yes if you like this kind of content. And give me a yes if you want a load more of this kind of content. Because I'm actually relaunching my money channels. So I have a money channel on YouTube, nearly 200,000 subscribers. You probably don't know about it. And I have a money podcast, and I'm doing a little relaunch, rebrand. I'm merging them so that the content is similar or the same across the two. One's video, one's audio. And I'm giving away 15 grand, a load of silver coins, and a millionaire moneymaker special pack to anyone who subscribes. So here's how you subscribe. It's really easy, it costs you nothing. It's completely free, and there's loads of money content to help you make, manage, and multiply money. You simply need to go to tiny.cc/mmsyt. Tiny.cc/mmsyt. Tiny.cc/mmsyt. S-Y-T. Let me just explain what this is so you know, and you can see people going, so you'll want to go now. So that is my YouTube channel, my money YouTube channel, nearly 200,000 subscribers. It's my newest channel, and there I give you strategies and tactics for free, always, on making, managing, and multiplying money. Now it used to be a short channel, and now I've got a co-host and we're doing longer deep dive content on all things money related. We're doing a bit of a rebrand this week. We're cleaning up the channels. We're making it longer and more tactical. And if you just go now to the link, subscribe, then this week I'm going to give away 15 grand. I'm going to give away a load of silver coins, and I'm going to give away a new Millionaire Moneymaker Resources Pack that I've created, all for free, just because I'm relaunching it. And I obviously want that to be successful, so that's why I'm giving you all those gifts. There's nothing to pay. So the link is tiny.cc /MSYT, which stands for More Money Secrets YouTube. All right, you've got the link there. Now give me a yes in the comments if you prefer audio, you know, if you listen to podcasts and you prefer audio while you're walking or running or driving. So if that's you, then you want to go to this link, and that is tiny.cc/MMSAudio. So at the moment, my Money Maker Secrets YouTube channel and my money podcast are kind of a bit different and scattered in terms of the content. We're aligning them up. There will be unique content on each platform, but much of the content will be similar, just whether you prefer audio or visual on YouTube. So if you like the audio, go to tiny.cc/mmsaudio. It's this week I'm doing all these giveaways. After that, they're done. So make sure you go and subscribe to those now and make sure you get good financial education. And I find it ironic that people who teach financial advice knowledge, um, in colleges make 40 grand a year and are in debt. There's something fundamentally wrong there. That's like your personal trainer's just had a triple heart bypass operation. And cholesterol is through the roof, you wouldn't hire that personal trainer. And a lot of the people are in the system teaching you about money, I believe, are essentially controlled and influenced by central banks and governments and the families that run the world, because it's in their best interest to make profit, and it's ultimately not good for humanity. I really do believe that what I teach is good for humanity. In fact, someone at my Moneymaker Summit event this weekend said, Rob, you're doing God's work, keep doing it. Which is a really nice thing for them to say. I've not had that said before. So I just want people to know how money really works, because if you make more, it's good for me. If I make more, it's good for you. If your friends make more, it's good for you. If we all make more, it's good for all of us, except it's not as good for the central banks and governments because they make less because they make most of it. So I want you to make loads of money. It's good for you, good for me. You should want everyone you know to make good money. If we all make good money, we're all more kind and more generous and more giving and more supportive. Because money is the tool to be able to do that. So this is why I do loads of free content. This is why I'm doing this money relaunch. My goal by my age 50 is to be one of, if not the top money commentators in the world, which is why I'm doing all this content, which is why I'm relaunching these channels, which is why I'm giving all this stuff away at no cost to you. So relaunching More Money Secrets on YouTube and Audio, go and subscribe now because this week there's going to be a couple of opportunities for you to maybe get 5, 10, or 15 grand as a gift from me, as a donation, giving away loads of silver coins and my Millionaire Moneymaker Pack. And the links are in the comments, but if you want the YouTube, it's tiny.cc/mmfytmikemoneymaker. Mike— what's S again? I can't believe I actually flown helicopters and I can't remember what S is. Um, MMSYT. And then if you want the audio, it's tiny.cc/mmsaudio. And warning, if you spend now 35 years paying off your mortgage, you'll pay 2.5 times or more the value of your property. You'd have negated having any disposable income or money to enjoy your life. You'll be paying it off into your retirement. You'll die not long after, and then 40% of most of it will go in inheritance tax back to the government. And they want their bill before you've sold your assets. You have to sell the assets to pay the bill. That's what the system wants. I believe it's far best not to pay off your mortgage while One second. It's far better not to pay off your mortgage but to get a competitive rate, let inflation and the central banks pay it down for you, let the appreciation of the property go up and build all your equity. And then the money that you would have paid off, the £200 a month that you would have paid down, the £5,000 at the end of the year that you would have paid down, invest that into other income-producing assets. And in 35 years, instead of having one property, you'll have 10 or 20, and you'll have a stock market portfolio. And instead of having to then try and survive on that one house worth of money, you'll have multiple streams of recurring income from other assets that can pay you until you die and then can pay your kids and then can pay your kids' kids. And this is all the kind of content that I do. So if you like it, make sure you're following me, make sure you subscribe to the channels. Let me know what you think in the comments. Stand up and speak out against these things that are wrong in the world. You know how everything's going to a cashless society, how the banks won't take any cash anymore. You can't pay it and you can't take it out. It's all control and it's all wrong. Stand up against that shit. And remember, if you don't risk anything, you risk everything.