Pay Off the Mortgage or Invest? What Should Come First

Should you invest your extra money or use it to pay off your mortgage early?

In this episode, we tackle that question from Brian, a 35-year-old dad with two kids and an extra $1,000 per month. His ultimate goal isn't simply building the biggest net worth possible. He wants to work less and spend more time with his family.

We walk through a practical path that prioritizes building a strong financial foundation, reaching Coast FIRE, working toward mortgage freedom, and ultimately using that financial flexibility to create more time, space and margin.

We also answer a question from a 40-year-old listener with $700,000 invested for retirement who wonders: Can you actually save too much for retirement?

We explore how Coast FIRE can help us determine when we may have enough invested for the future, why time has an opportunity cost too, and how pulling back on retirement contributions could allow us to enjoy more of our lives today.

And to close things out, Calvin Hill joins us for another Money Quiz! We talk investing, the difference between making more money and making more time, and the surprising amount of money generated by the company behind his favorite game, Clash Royale.

RESOURCES:

Boldin:https://marriagekidsandmoney.com/boldin

Coast FIRE Calculator:https://marriagekidsandmoney.com/calculators/coast-fire/

Nectarine (Advice-Only Financial Advisors):https://marriagekidsandmoney.com/nectarine

Leave us a voicemail:https://marriagekidsandmoney.com/voicemail

CREDITS:

Host: Andy Hill, AFC®

Podcast Editor: Johnny Sohl

Podcast Support: Michelle Ahmed Learn more about your ad choices. Visit megaphone.fm/adchoices