Rob challenges the norm and the expected in this episode and outlines the reasons why paying off your mortgage could actually be a bad financial decision for you! Rob also discusses the current state of the housing market including the opportunities to be found and how you can find out more ways to leverage the crash and create multiple streams of income.
KEY TAKEAWAYS
- The idea of lower monthly outgoings and owning your house outright can be appealing but these aren’t always good reasons to pay off your mortgage.
- It’s likely you will get a better return investing any money into alternative assets rather than using it to pay off your mortgage.
- Inflation will effectively save you money on your mortgage by devaluing its cash value over time. Instead of paying your mortgage down, let inflation do it for you.
- There may be properties to buy soon that will present a better cash flow than when there were record low interest rates.
BEST MOMENTS
“This could be quite a false economy you could have cost yourself a reasonable amount of wealth thinking you are building a pension for your future”
“Don’t be stupid, don’t pay your mortgage off”
“Inflation is one of the best ways to pay your mortgage down"
“Take any spare capital and invest it into assets”
“I reckon in the two years after 2020, inflation in reality…was more than 10% [increase] a year”
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/
Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs
LinkedIn: https://uk.linkedin.com/in/robmoore1979
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