5 Things I Learned After One Year of Living Mortgage Free

That scripture is brutal. Low/no debt = options. Focus on that.

I’m trying to take out a mortgage, so this seems a bit too far of a future to me

Congrats to you. Big accomplishment! Changes the game for sure!

Now you just have to worry about maintenance and real estate taxes. Also, possibly HOA

Ken doba 🤣

Can't wait, but still have to TRY in my life. Makes sense! Blessed!

The only peace is the hope in Christ. We don’t know - Job - what God will allow to happen.

Been overpaying for a while now. 13 months more to go, to being mortgage free. Can't wait !!

The feeling of NOT having a mortgage is such a great feeling. I was fortunate enough to pay cash for my house and the total rebuild. If I ever had to, I know that I could sell my house and have a chunk of money to help through the issue. Been mortgage free since 2016. I pray everyone has the chance to enjoy the feeling of being home payment free as young as you can.

left brain succeeded to give you a stable life. Now its time to activate your right brain to find enjoyment in life :)

We paid off our £700k mortgage in 3 years, like you, we are so fortunate! A few things we’ve realised:
1) the reason for paying it off is more psychological than fiscal, after crunching the real/real numbers it’s not necessarily a slam dunk on what’s a better investment.
2) I don’t know if in the West we are ever free of annual housing obligations, property taxes rise every year, as the house ages it needs repairs, etc.
3) we thought we’d both walk away from work, but the next burden on the shoulders is fulfilling Eccl 11:2, “investing in 7-8 ventures” to protect against risk!

All that said - still happy we’ve done it! Now trying to get a line of mortgages for multiple rental properties ! Thanks for the video!

Well said. It’s hard to have anyone to talk these things through with because most everyone is in the survival grind and can’t relate. These are the struggles I have being a stay at home mom. I don’t have any excuses other than my own undisciplined self for any goals o don’t reach. Congratulations to you and your family on being debt free.

This is what Dave Ramsey tries to tell everyone. Paying off the house early is the best thing. It gives peace of mind

So just hoe much more do you now have to pay in incone taxes since paying off the mortgage? Do the math folks ...sometimes paying off the house can cost you much more in taxes....eliminating the benefit

I paid off my house like 5 years ago. I continued to work hard, saving up for major updates. I worked myself into the hospital. After that i slowed down and am almost in retirement mode. I work to pay utilities, taxes, homeowners insurance, food amd repairs. God has blessed me so much.

The relief of being debt free makes you not want to ever go into debt ever again.

With rent going up into the 1500s or more, so glad i bought my house. My morgage payment was only a 3rd of what people are paying for rent!

Thank God

What most people find is that being debt free doesn’t buy them happiness. They lose purpose in living without challenges

Surprised you didn't mention the need for shifting into saving mode but keeping spending about the same.

Pay your taxes or they will take your home away

In my opinion, paying off your mortgage is overrated. Especially depending on your mortgage rate that you currently have. Let's just say you have a 3 to 4% mortgage rate. You're basically borrowing money for free. It doesn't really even make sense to pay off your mortgage If you're interest rate is below 6% because you can use all that extra money that you're putting towards paying off your mortgage to better use and better investments that would profit you much more in the long run. You would literally be losing thousands of dollars trying to pay off thousands of dollars. It doesn't make any sense.

Second reason paying off your mortgage is overrated is because you simply just don't have that much more money per month unless you were literally living paycheck to paycheck. For instance my mortgage principal interest taxes and insurance is $2,700 and my actual mortgage is $1,300 So you really never even own your home anyway. You're still having to pay taxes and insurance every month for your home So they don't take your home from you.

So in our case, If we paid off our mortgage we would only be saving $1,300 a month or $325 a week. Don't get me wrong, That's definitely good, But it's not life-changing money. That is, unless you were already over leveraged and basically living from paycheck to paycheck then anything extra is life changing money.
But my point is, It's just not worth paying off your mortgage for an extra few hundred dollars a week unless that few hundred dollars a week actually puts you in your dream position. But I would say, If $350 weekly is that significant to you then you're just simply over leveraged period.

Retirement isn’t an end g0al, but a journey best secured by careful and consistent investments.

What about property taxes? HOA fees? I’m sure you pay more than $300 a month right?

welcome to the boomer's mentality

Congrats man, hoping to be mortgage free too myself. Well done - I’m soo glad God has blessed us

We paid the house off three years ago, biggest regret I have. I dont feel liberating nor do I live any different. I also dont have more money. The mortgage you think you are saving is just spent on something else. My interest rate was 1.9% when i paid it off. I had the opportunity to refinance at 1.6% percent. We will never ever, in our lifetime see 1.6% mortgage rate, that was free money. I regret every day not taking max out snd reinvesting that money. Now i have a paid off hoise with dead equity. Not a dime available to me from it unless i sell or refinance at 8+% interest rate.

So, in summary, you are in peace but you have no big goals and you don't care.

Not sure I envy you, but congrats as much as this makes you happy

They can still take your property away. It's called property taxes and zoning.

It’s interesting that you seem to need god to tell you to take care of your family.

I have 35% of my capital investments in an IRA, 25% in index funds, and the balance spread across other investment accts totaling over $250k. I took a big hit in Q2,. Right now i am just looking for ways to recover in 2025 and pay off my mortgage before another economic crisis rolls around.

Congratulations brother

Why do you think you're blessed? Are you more blessed because you don't have a mortgage. God is the one who determines if you're blessed

I feel this so much. Thanks for sharing your story I'm far from mortgage free yet, but I had one big thing consumed a lot of emotional energy, and made me delay or avoid other commitments to myself and other people. I've done the big thing now, and the sent of relief and inner peace is great, but it doesn't magically make me wake up and jump into the other commitments! So yeah, now I have more space to work on myself. Thanks for the inspirstion.

I would like to think that being debt free would actually improve your health also. You can now afford the more expensive healthy foods stress levels be lower able to take more time off work or even get a different job that's less demanding on your body. Working less hours would allow more time to hit the gym.

Only $300 for tax and utilities ? What about insurance? you don't carry insurance?

Gods Peace.

God didn’t do anything because God doesn’t exist. But you did do it all yourself so congratulations.

Congratulation You are a winner 🎉

I hope you become even more blessed than you already are❤ Thank you for not being shy to include the Word in your content.

Where did u get that wood stove? Is it electric?

Congrats, but the aim is to sell and upgrade cus your still young and its best investment for kids futures

🎉🎉 congratulations 👏👏👏 I'm almost there.

I hate to be this guy, but I paid of my mortgage about 10 years ago before I turned 30. I definitely have no regrets, but I’ll tell you, that good feeling does eventually wear off and I still have plenty of stress about life family and my career.

every single person deserve there own home.....there is plenty to go around for all bit these bastardss have set the system up in such a way where they mske us believe there is a shortage.....there is no shortage of anything its a made up lie.....in the process human beings really suffer when they shouldnt have to.....

Paid off my credits cards - soooo good feeling! And 4-6month of paying of my $30k car in 1.5 years . Next step is to get a house and pay it off.

Im on my journey to going from broke deep in debt to being debt free hopefully within the next 5-10 years.

It’s a weight lifted off the shoulders when the mortgage is paid off.

11 months of investing. $67k saved, debts cleared, and a portfolio just shy of a quarter million. Taking my finance into consideration last year was worth it in retrospect.

Watching in 2025! Thank you for sharing this video. I am a believer as well, so hearing you share bible Scriptures was encouraging the most. May God continue to bless and guide you.