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Optimal Finance Daily - Financial Independence and Money Advice
2719: Why Choose To Live In The Poor House - Again? by Helene Massicotte of Free to Pursue on Should I Rent or Buy
May 9, 2024
Financial freedom advocate Helene Massicotte discusses the drawbacks of carrying a mortgage into retirement, advocating for the liberating benefits of being debt-free. She highlights the financial and psychological freedom that comes with owning a mortgage-free home, emphasizing the importance of financial security and investment opportunities in retirement.
09:05
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Quick takeaways
- Being mortgage-free allows for more savings and spending flexibility in retirement.
- Balancing home equity and net worth is crucial for financial flexibility and investment opportunities.
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Benefits of Living Mortgage-Free
Living mortgage-free provides the opportunity to save and invest more for a comfortable retirement. Additionally, it allows for increased spending on personal interests like travel, learning, and other activities, providing financial flexibility and a sense of security. Being mortgage-free reduces financial obligations and offers peace of mind by eliminating concerns about housing security, along with potential cost savings on home insurance premiums. By avoiding perpetual mortgage commitments, individuals can experience financial freedom and pursue a more prosperous future.
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