The Financially-Dumb Answer to Pay Off the Mortgage or Invest

The Financially-Dumb Answer to Pay Off the Mortgage or Invest https://youtu.be/YXo4T89KOY8 Should you pay off the mortgage or invest, should you pay off debt before investing? It’s the most common question I get and the common answer is totally wrong! You heard right. The answer you get from ‘financial experts’ will leave you in financial ruin! In this video, I’ll explain why the conventional wisdom on paying off debt versus investing is a one-way ticket to the poorhouse. I’ll show you all the numbers, which costs more between student loans, mortgage debt, credit cards and different investments. Then I’ll reveal two reasons why you should ignore the numbers and make a financially-dumb decision. I’m doing this video as a collab with Sarah Wilson, The Budget Girl, who is sharing her perspective in another video. She makes some good points and maybe has the right answer for you so click over to watch her video after you hear my perspective. https://youtu.be/i4LI8IKTwqo Everyone says to pay off debt before investing. This means paying off student loans, the mortgage, all your credit card debt before putting a penny in an investment account. It makes sense if you look at the numbers, i.e. the interest rates versus the returns. But that ‘makes sense’ answer is the WRONG one! It means most people will never start investing and will always be living paycheck-to-paycheck. It means never having the opportunity to get out ahead. I’m not saying you should borrow debt to invest. That’s a completely different question. I’ll give you two reasons though to start investing now, even if you owe high-interest debt. Don’t stop investing to pay off debt! My Investing Recommendations 📈 FREE download - the 5 Sites and Resources I use to invest https://ift.tt/2ZgW3P7 📊 Get a free share of stock on Robinhood! https://ift.tt/2MJ7SWE Invest on the no-fee website I use, M1 Finance https://ift.tt/2HqeQx3 Get a free share of stock on Webull plus access to extended hours trading BEFORE the market opens. https://ift.tt/2M1qRd4 Free Webinar – Discover how to create a personal investing plan and beat your goals in less than an hour! I’m revealing the Goals-Based Investing Strategy I developed working private wealth management in this free webinar. Reserve your spot now! https://ift.tt/2TbmwcK Ready to Make Money Online? 🤑 Get this special negotiated deal with Blue Host for web hosting https://ift.tt/2UgRGxb The email tool I use to grow my list and create funnels https://ift.tt/2OdONL8 Free Webinar to Grow a YouTube channel! How I grew from 0 to 75,000 subs fast! https://ift.tt/2KID4nm Want to know how I started six blogs from scratch to make over $10,000 a month? Get this FREE five-day email course on building a blog that makes money and an easy checklist with everything you need. https://ift.tt/2VBMunA My Books on Investing and Making Money 💰 📗 📈 Step-by-Step Dividend Investing http://amzn.to/2aLpFcs Step-by-Step Bond Investing http://amzn.to/2aLpA8p Investing in the Next Big Thing https://amzn.to/2SqMa9z Make Money Blogging http://amzn.to/2kpL6Cr 📺 Crushing YouTube https://amzn.to/2YVCqfi 🙏 Step-by-Step Crowdfunding http://amzn.to/2aS2DRK Want Two FREE Audiobooks? https://ift.tt/2Nv66sA SUBSCRIBE to create the financial future you deserve with videos on beating debt, making more money and making your money work for you. https://ift.tt/2zsdiOe Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps. Let's Talk Money! with Joseph Hogue, CFA