13. Pay Off Your House
This is the moment right here!
What would you do if you had absolutely no debt?
No car loan, no student loans, no credit card bills, and…no mortgage…???
How much cash would you have coming in that would be extra?
Wouldn’t that be absolutely crazy? (we’ve been doing it for the past 5+ years, and let me tell you, it is simply glorious, and on so many levels!!)
Finish this step, and that’s exactly where you’ll be – completely debt free with wads of cash that you won’t know what to do with. 🙂
So how do you do it? It’s pretty simple really:
- Invest 15% to your retirement
- Contribute some amount to your kids’ college fund (use this calculator to help you figure out how much)
- Then, use all your other excess dollars and put them toward your home mortgage (straight to the principle!)
With this method, you’ll likely pay off your house in 5 years or less!
Want some more info on paying off your house?
Check out the material below