Should you pay off your mortgage or invest the money instead? The speaker says it depends on your goal: a debt-free home, or a bigger investment portfolio. Since mortgage interest isn't tax-deductible on personal homes, decide which matters more to you first.
So here's some of the intricacies, right? The question was, is the aim to own the principal place of residence outright? Now for a lot of people I meet, they wanna go, do you know what, I wanna own my home outright, so ultimately there's no mortgage on it, ultimately, and that's there because it's not a tax-deductible debt. Then I want an investment portfolio that I now own that delivers me an income. Now that's not to say that in the future you won't continue investing and draw back on some of the equity and do things in the future. But you want to answer for yourself, what's your outcome? If your outcome is to sit there and go, yeah, I want my home outright and then I want an investment portfolio, then that's what we're basing it on, right? So what's your outcome?
