Rob issues a warning in this episode and talks about why paying off your mortgage might not be the smart financial decision you think it is.
KEY TAKEAWAYS
- If you are under an old mortgage deal, paying under 3% interest then your mortgage is less than inflation and it would cost you more to pay it off.
- Inflation is reducing your mortgage and debt more than you realise.
- You need to think about what else you could use with the cash other than paying off your mortgage. An investment that beats your current mortgage rate should be simple to find.
- Rates have gone up but they are still under the long-term average.
BEST MOMENTS
“Inflation is probably a quicker pay off of your mortgage than your repayment mortgage”
“In an ideal world what you want is the government paying off your mortgage for you”
“Deals are flowing right now”
“That income from that asset could pay off your mortgage for you”
VALUABLE RESOURCES
bit.ly/Robsupporter
ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
“If you don't risk anything, you risk everything”
CONTACT METHOD
Rob’s official website: https://robmoore.com/
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LinkedIn: https://uk.linkedin.com/in/robmoore1979
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