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If you are a homeowner and have some extra cash set aside - you probably asked yourself: is it better to make an extra payment towards your mortgage or invest that money towards your retirement?
In this video, we are going to go over whether you are better off making an extra payment towards your mortgage or contributing to your retirement fund. We will also cover how much money you need to retire, taking into consideration your home costs.
00:00 Intro
01:00 Pay off Mortgage vs. Invest in Retirement Calculation
09:04 How Much Money Needed to Retire Calculation
13:07 How Assumptions Affect Your Decision
14:56 Takeaways & Pros and Cons
Disclaimer: Note this video is not financial nor accounting/tax advice and should be used for entertainment purposes only. Consult with your own financial advisor, accountant and/or tax advisor for advice related to your specific situation.
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WHO AM I:
Gabrielle is a CPA and Tax Expert, as well as the founder of Balance + Wealth CPA, a licensed CPA firm that specializes in Tax. Prior to starting her business, Gabrielle worked as a Tax Manager at one of the Big 4 Accounting Firms for 7+ years, advising Fortune 500 companies. Gabrielle posts weekly videos on personal finance, business finance, and tax tips.
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