Free Mortgage Payoff Calculator – How Fast Could You Pay Off YOUR Mortgage??

mortgage payoff calculator

You paid off your credit cards, student loans, your car. You saved up a solid emergency fund and now you’re investing 15% for your retirement. Holy crap, you’re rocking it!! And now it’s time to start paying off your house! Woot woot!!

FYI – If you’re not quite up to this step yet (ie. you still have consumer debt), be sure to use this debt snowball tool for help! And then come back to this post when you’re in a better position to slay your mortgage!

How Fast Could You Pay Off Your Mortgage?

Alright, so now you’ve got a 15-year, a 30-year, or maybe even a 50-year mortgage (hopefully not though!). What if you started throwing some extra money at it? How quickly could you pay it off? I bet you’d be surprised!

Related: Should You Pay Off Your Mortgage Early?

In January of 2015, I made the decision . . . → Read More: Free Mortgage Payoff Calculator – How Fast Could You Pay Off YOUR Mortgage??

What’s Your Spare Time Actually Worth?? It’s Time to Quantify It!!

spare time actually worth

“Hhhgggrrr,” I grunted as I attempted to fit one more curl into my set. My face was red, I was out of breath, and to be completely honest, I was even a little dizzy… Of course it was at that moment (why is it that opportunities always come when you’re visibly at your worst??) that a guy behind me wanted to get chatty, “So what is it you’re training for?”

Somewhat embarrassed, I basically told him, “Nothing” (I’m just crazy enough to work out for the sake of working out), and then we got into the small-talk conversations…our names, ages, where we work, etc.

He was a financial advisor and was obviously well-off. After learning about my passions and my work, it was pretty evident that he thought I should be the same.

“You’re old enough, you can look people in the eye when you talk with them, and you . . . → Read More: What’s Your Spare Time Actually Worth?? It’s Time to Quantify It!!

Should You Pay Off Your Mortgage Early?

pay off your mortgage early

You just received a $100,000 inheritance (Woot woot!). You want to be smart with it…so buying a Ferrari is out of the question. But should you pay off your mortgage early? Or, should you put the money into the stock market to earn more interest over time?

This is the age-old question…

Should You Pay Off Your Mortgage Early?

Ask almost any financial advisor and they’ll tell you to put your money into the market…

Here’s their reasoning:

You’re likely paying just 4% (or less) interest on your mortgage loan, and the market has historically earned 7-8%. Thus, it only makes sense to put your money in the stock market and earn more. The interest on your home is tax deductible, so it makes more sense to keep it and save money on taxes.

It sounds completely logical at first, and many people go along with their reasoning (including members . . . → Read More: Should You Pay Off Your Mortgage Early?

Don’t Let a Job Switch Nuke Your Retirement

withdraw your retirement early

Switching jobs can be tough financially, especially if you didn’t plan on leaving your old job. You lose your steady paycheck and your benefits. You still have all of the bills you had before, and maybe expensive COBRA insurance at the same time.

Even if you start a new job immediately, you may have more time than usual between paydays. And what if you don’t have a new job yet? Experts estimate your job search in terms of how much of an annual salary you’re looking for as one month for every $10,000. That means if you used to earn $70,000 a year, it will likely take you 7 months to find that next job! Ouch!

And suddenly, you remember…you had a retirement account at that old job. You’ve been saving 3, 5, maybe even 10% or more of your salary for years. You really need that money now. Maybe . . . → Read More: Don’t Let a Job Switch Nuke Your Retirement

4 Amazing Results of Knowing Your Why

your why

“Hey, you know what you should do? You should sell your nice car, stop going out to eat, and slow down on all those trendy clothing purchases. Then your life would be much better.”

That statement all by itself sounds pretty crazy doesn’t it? So…what you’re telling me is that if I reduce my fun in three areas….my life will be more fun….? What nut-house did you come from again?

4 Amazing Results of Knowing Your Why

In my opinion, the above advice is sound, but there’s one important element that’s missing – it’s the person’s ‘why’. If they like their current life and have absolutely no reason to change it, then why would they? But, if you explain to them that if they sacrifice a few things for just two years, they could be amazingly wealthy for the next 50, you might peak their interest a bit more.

What’s . . . → Read More: 4 Amazing Results of Knowing Your Why

3 Reasons Why I’m Not Maxing Out My 401k

not maxing out my 401k

All you personal finance geeks, get your gasps ready….

I’m not maxing out my 401k.

Am I nervous about it?


Do I think I’ll change my mindset in the near future?


Would I tell you to max out your 401k?

Probably not….

3 Reasons Why I’m Not Maxing Out My 401k

It seems like an absolute sin in the personal finance world, but I’m just not a big fan of maxing out my 401k. Why not? There are actually quite a few reasons. Three to be exact…

1) I’d Rather Pay the Taxes Now

Most people love investing in their 401k because it’s tax deferred – meaning, if they invest the money today, they can avoid paying taxes until they take their money out later.

This is great and all….but here’s my take on it:

The United States’ national debt has more than tripled since 2001. In just . . . → Read More: 3 Reasons Why I’m Not Maxing Out My 401k

7 Tips to Save Up Cash for Your Next Rental Purchase

save up cash for your next rental

Want to buy a rental property? I always recommend doing it with cash.

And then of course I hear this…

“Derek, you must live in some kind of fairy tale if you think people can save up enough cash to buy a property outright. Most can barely do it with a loan!”

Well, I’m not most people, and you shouldn’t be either…because most people are broke and have constant setbacks from their continual poor choices!

Instead of living in the land of “most people”, let’s first discover the major benefits of buying a house with cash:

Never pay interest to the bank – this alone is hundreds of thousands of dollars in savings No need to pay for an appraisal – saves time and makes it more appealing to the buyer Cheeeeaaap closing costs – since the greedy bank isn’t involved, you save thousands here A reduced purchase price – . . . → Read More: 7 Tips to Save Up Cash for Your Next Rental Purchase

What’s Your Five-Year Plan?

five-year plan

“What do you see yourself doing five years from now?”

Granted, this isn’t really an ice-breaker question, but whenever I get to know somebody decently well, I like to bounce this off of them and see how they react.

Most of the time, their response starts with….


They have absolutely no idea!

People spend more time planning a vacation than they do planning their own lives!! Sad, but true…

What’s Your Five-Year Plan?

If you ever meet me in real life and want to avoid the *crickets*, then you’d better start figuring out your five-year plan!

More importantly than just not looking foolish though, realize that this is an incredibly important step to becoming financially successful. As Zig Ziglar always said, “If you aim at nothing, you’ll hit it every time.”

In other words, if you just wander through life, you’ll definitely end up somewhere, but is it really . . . → Read More: What’s Your Five-Year Plan?

Are You Constantly Overspending? It’s Time to Check Yourself…

constantly overspending

Having a little more spending money in your pocket is an attractive idea to just about anyone, especially with summer quickly approaching. The first step to having more money on hand is examining where it’s currently going and tailoring your current budget so that you have a little more wiggle room. Check out the useful tips below to see if you might be overspending in any area, and what you can do to stop if you are.

1) Paying Extra to Avoid Hassle

Convenience is one of the number one factors that contributes to overspending.

It’s present in almost every aspect of our daily lives. If you want to get somewhere fast, you may rely on a cab or car-share service instead of the bus. If you don’t have the time or desire to cook for yourself, you may order takeout or call for delivery instead.

While these things may . . . → Read More: Are You Constantly Overspending? It’s Time to Check Yourself…

Are You Eating Your Lunch? Or is Your Lunch Eating You?

small changes

Have you ever started talking with someone about money and thought, “This person really has it all together”? …and then later realized they waste their money by going out to lunch every. single. day. ?

Is Your Lunch Eating You?

It’s innocent enough, right? You manage your money well by driving a 10 year-old car and you live in a modest house, which saves you hundreds of dollars a month compared to your frivolous friends, so why not treat yourself a little bit for lunch? After all, it can’t make that much of an impact in the grand scheme of things, right?


My lunch that I take from home costs me $1.78: Sandwich Bread = $0.17 Turkey = $0.40 Cheese = $0.08 Banana = $0.15 Clementines = $0.32 Granola = $0.66

The average lunch in our work cafeteria costs $6.00. The food might be a little tastier than my . . . → Read More: Are You Eating Your Lunch? Or is Your Lunch Eating You?