Should I Pay Down My MORTGAGE or Should I INVEST? Is it Worth Paying Off My Mortgage Early? Should I Invest While I Have Debt? Should I Focus on Becoming DEBT-FREE? Are there Tax Benefits to Keeping a Mortgage?
The Bank of Canada just increased Interest Rates AGAIN by 0.25%. This is the HIGHEST Interest we have seen in 22 years so now, more than ever, Canadians need to decide what’s the best way to handle their money AND their debt! There is a TON to discuss here and this decision goes beyond just a numbers game! On paper, if your investment rate of return can beat your interest rates, then it’s better to invest that extra money instead of paying down your mortgage quicker. But there are pros and cons to each and even tax benefits to holding onto a mortgage! This video will help you decide and I’ll share my story of what I am doing with MY variable mortgage 🇨🇦
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SKIP AHEAD ⏩
-Bottom Line: 0:00
-Interest: 0:54
-Stock Market Returns: 2:30
-Market Downturn: 3:43
-Locked-In: 4:25
-Peace of Mind: 5:20
-My Mortgage: 5:51
-Tax Benefits: 6:32
-Home Business - Tax Deduction: 7:37
-Hybrid Approach: 8:32
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DISCLAIMER: I am NOT your financial advisor! My videos and the topics discussed are my opinions and are presented for entertainment purposes only. This information should not be construed as legal or financial advice. It is always up to YOU to do your own due diligence. It’s YOUR money so make YOUR own decision!
I will NEVER ask you to send me money nor will I ever provide my phone number or personal email address. If you see this, that is a fake account and please report any suspicious activity or scam accounts claiming to be me.
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