ilmscore | Prediction Details
"if my mortgage is sub 5% it's going to be a different answer that my mortgage is above 5% because if it's sub 5% well now I have a better like Ood of investing that money in the stock market or something and beating that return and even if I didn't put that money in the stock market well I could put this cash into a high interest savings account and I can generate 4 and a half to 5% a year in interest from a high interest savings account and use that money to pay this down if I have a 3 and half% mortgage so that's the first question that I would ask second question that I would ask myself is what is my risk tolerance am I somebody who wants to just live financially free and just be comfortable or am I somebody that wants to live a little bit bigger now for me I have a little bit of a higher risk tolerance I don't have the highest risk tolerance but I have a little bit of a higher risk tolerance and I have bigger financial goals so for me because I have the higher financial goals I know that I don't just want to be comfortable I want to have the ability to build more extreme levels of wealth I'm going to have to take different types of risks and have to do different things to my money which is why for me especially if my mortgage is under 5% I'm going to be more aggressive with my investments and as opposed to just paying down my mortgage now if my mortgage is 6 7 8% now it's a little bit of a different question because now maybe I'm going to pay down my mortgage a little bit more aggressively while also investing my money I want to be investing my money whether it's in my own business whether it's in stocks whether it's in real estate I want to be investing my money but this is where now understanding well kind of where the mortgage is is going to change how I play this game if I have a 2 and a half or 3 and a half% mortgage I'm going to continue paying the mortgage and I'm going to be investing my money other places as fast as possible"
By Minority Mindset | February 15, 2024 | Pending
From video
My 10 Step Checklist To Become A Millionaire 00:22:46 - 00:24:28
Interpreted Prediction
If mortgage rates are below 5%, it's generally more advantageous to invest the money elsewhere, as potential investment returns or high-interest savings account yields can exceed the mortgage cost. A higher risk tolerance and larger financial goals also favor investing over aggressive mortgage payoff.

Prediction Details

Topic
Mortgage Payoff vs. Investing

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