Property Investing in The 21st Century

Mortgage Free Retirement

A lot of people want to be mortgage free by retirement. In many cases, the timing works just right and the major monthly mortgage payment frees up significant amounts of their money. If you time your mortgage being paid off with your leaving your job for retirement, you’ll have more money to spend on retirement.

But how much better would it be to free up that big chunk of money MUCH sooner?

Here are some ways you can increase your monthly income NOW by paying off your mortgage sooner. That way you can grow your retirement income and do MORE in your golden years. (And maybe even retire sooner than planned!)

* Move to weekly, bi-weekly, or accelerated bi-weekly mortgage payments. Instead of paying a monthly fee, you’ll have your mortgage paid off years sooner.
* Invest in a second piece of property that can bring you rental income AND pay off the mortgage on that property. Flip the property in a few years for a profit and pay your mortgage off PLUS have money left over.
* Rent out a room (or convert your basement into an apartment) and use the rental income to pay your mortgage off sooner.
* Downsize to a smaller home with a smaller mortgage payment now. Pay the same monthly or weekly fee you’re paying today so that you get debt free sooner. If you’re an empty nester, you’ve probably got plenty of spare room that you don’t need.

The mortgage payment is probably your biggest expense so the sooner you can free up that money, the sooner you can either put more towards investing for your retirement OR be more financially carefree!

Written by Clint Maher - 21st Century Academy
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