When it comes to paying off your mortgage, the 15 vs. 30-year mortgage question can stop you in your tracks.  Chances are, you’re probably trying to figure out how to get a better interest rate or get out of debt sooner.

But to make the decision that puts you in the most financial control, you have to fully understand what’s at stake.  And to do that, you have to peel back and peer under layers of pretty compelling myth and misinformation.

https://www.youtube.com/watch?v=TK94hJDMgW4

It sounds harder than it is. 

You just have to be willing to see things for what they are, ask questions, and challenge popular assumptions.  If that seems scary or hard or strange, when did taking the easy path of shortcut thinking ever create your finest moments? (Like never.) 

Unfortunately, mainstream financial thinking has millions of Americans making decisions that take away their control. 

There’s an unspoken rule that’s seeped into our psyche.  It’s that smart people pay off their mortgages quickly. 

But could our bondage to what we feel we ought to do be turning our American Dream into our American nightmare? 

In today’s conversation, we’ll uncover the biggest myths about paying your mortgage. We’ll show you why the focus on paying it off quickly will handicap your cash flow and control.  After we’ve unpacked the facts, you’ll know with confidence and clarity what’s best for you and be able to make mortgage financing decisions without second-guessing yourself.

Table of contentsWhere Paying Off Your Mortgage Fits into the Cash Flow SystemWhere We Got the Idea That You Should Pay Off Your Mortgage QuicklyMyths and Truths About Paying Off Your Mortgage LoanMyth 1: Having a Mortgage Means You Are in DebtTruth: Having a Mortgage Does Not Mean You are In DebtMyth 2: Your House is a Great InvestmentTruth: Your House Is Not an InvestmentTruth: Your House Is an ExpenseTruth: Appreciation on Your House Isn’t Great After AllTruth: The Opportunity Cost of Paying Off Your Mortgage is HighTruth: You Might Just Be Breaking EvenTruth: Home Equity Is Not an Investment or SavingsTruth: It’s Inconvenient to Use Your EquityMyth 3: You’re Safer When Your House is Paid OffTruth: Putting Your Cash into the Four Walls of Your House Means Less to Save and InvestTruth: The Slower You Pay Off Your Mortgage, the More Cash You KeepTruth: With a 30-Year Mortgage, You’re in a Safer Position During the Entire 30 YearsTruth: Wealthy People Don’t Always Pay Everything They’re Capable OfTruth: Today’s Dollars Are Worth More than Tomorrow’s DollarsTruth: When You Pay Off Your Mortgage Quickly, You Give Up Your Most Valuable DollarsTruth: The Closer You Are To Paying Off Your Home Loan, The Greater the Risk of Foreclosure If You Stop Making PaymentsTruth: Your Home Value Has Nothing to Do with Your EquityMyth 4: A Lower Interest Rate Costs You LessTruth: Banks Set Interest Rates Based on What’s Best for ThemTruth: To Be in Control, Model the BankIn ConclusionMath vs. EmotionWhat to Do Next Oh One More Thing...

Where Paying Off Your Mortgage Fits into the Cash Flow System

Owning a home requires paying for it.  And paying for anything, no matter how you do so, affects how much of your money you keep. Making the best financing decisions gives you more to keep and put to work.  But no matter how much money you keep, it’s just one small part in the bigger picture of building time and money freedom.

That’s why we have created the 3-step Business Owner’s Cash Flow System, your roadmap to take you from just surviving, to a life of significance, purpose, and financial freedom.

The first step is keeping more of what you make by fixing money leaks, becoming more efficient and profitable.  Then, you’ll protect your money with insurance, legal protection, and Privatized Banking.  Finally, you’ll put your money to work, increasing your income with cash-flowing assets.

Paying your mortgage happens right here in The Money Finder step of ...