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Optimal Finance Daily - Financial Independence and Money Advice
2703: Why Paying Off the Mortgage Early May Be a Big Mistake by Len Penzo on How to Fight Inflation
Apr 25, 2024
Financial expert Len Penzo discusses why paying off the mortgage early may not be ideal in a high-inflation environment. He explains the benefits of maintaining a mortgage during economic changes, investing strategies, and weighing the pros and cons of homeownership versus income-producing investments.
11:02
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Quick takeaways
- In a high-inflation environment, maintaining a mortgage could be more advantageous than clearing it early.
- Consider historical examples to understand the impact of inflation on mortgage payments before deciding on repayment strategies.
Deep dives
Questioning Paying Off Mortgage Early
The podcast examines the popular dilemma of whether it's beneficial to pay off a mortgage early or invest elsewhere, shedding light on the implications of inflation on this decision. The host shares a personal story of transitioning from advocating for early mortgage payments to reconsidering this strategy due to concerns about inflation and currency devaluation.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode