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Should You Pay Off Your Mortgage?


I get this question all the time: from those who just purchased their home to those deep into retirement. The answer is complicated and specific to the individual's situation.

 

Some important things to consider:

  • Do you have an adequate emergency fund?

  • Can you hit your short-term goals?

  • Do you feel stressed month-to-month with cash flow? I.e., do you have any left over each month after paying bills?

  • Are you saving for retirement?

  • What's your interest rate? Is it much lower than the market's long-term average of around 10%? Could investing be more beneficial in the long run?

  • Does paying off your mortgage provide peace of mind? Can you take more risk with your investments if you know your house is paid off?

 

Every client and situation is different.

 

The following flowchart could be helpful if you are considering paying off your mortgage.



 

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Risk Disclosure
Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.

This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding the accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.

Hyperlink Disclosure
The information being provided is strict as a courtesy/convenience. When you link to any of the web sites provided here, you are leaving this website. We make no representation as to the completeness or accuracy of information provided at these websites.
 
AlphaOmega Wealth Management, LLC (“AOWM”) is not liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technology, web sites, information and programs made available through this website.
 
When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for use of the web sites you are visiting.
 
AOWM does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to AOWM’s web site or incorporated herein, and takes no responsibility thereof.

 
 
 

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AlphaOmega Wealth Management, LLC (“AOWM”) is a registered investment advisor offering advisory services in the State(s) of Nebraska and in other jurisdictions where exempted.  Registration does not imply a certain level of skill or training. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by AOWM in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant an applicable state exemption.

 

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Hyperlink Disclosure

 

The information being provided is strict as a courtesy/convenience. When you link to any of the web sites provided here, you are leaving this website. We make no representation as to the completeness or accuracy of information provided at these websites.

 

AlphaOmega Wealth Management, LLC (“AOWM”) is not liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technology, web sites, information and programs made available through this website.

 

When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for use of the web sites you are visiting. 

 

AOWM does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to AOWM’s web site or incorporated herein, and takes no responsibility thereof. 

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