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This episode from the personal finance summer series of 'Coaches, Consultants, and Money' hosted by Erica Goode and co-hosted by husband, Ben Goode, CPA, discusses the debate around whether or not it's beneficial to pay off a mortgage early.
Sharing personal experiences and professional insights, they explore the pros and cons of early mortgage payoff versus maintaining it for its term. They stress the importance of personal priorities, financial strategies, and the potential psychological benefits of being mortgage-free, all while highlighting different approaches to managing a mortgage based on individual circumstances.
The episode emphasizes there isn't a one-size-fits-all answer, encouraging listeners to consider their specific situations and priorities when deciding on their mortgage strategy.
00:05 Welcome to Our Summer Series: Coaches, Consultants, and Money
00:52 The Great Mortgage Debate: To Pay Off Early or Not?
01:32 Erica's First Mortgage Experience and Real Estate Insights
06:40 Strategies for Not Paying Off Your Mortgage Early
18:55 The Psychological Benefits of Paying Off Your Mortgage Early
26:37 Smart Ways to Approach Mortgage Payoff
29:46 Wrapping Up: Making the Best Financial Decision for You
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