A few days into 2025, I wrote about the reasons my husband and I are prepaying our low-rate, 15-year mortgage, which is currently under 2%.
Over the next 24 hours, I received multiple angry emails from male readers.
I mention the fact that all my emails were from men because, in the 15 years I have written about finance, I have only received unhinged, angry emails from men. Despite the fact I am financially successful by every measure and considered an expert, some men look up my contact information so they can aggressively explain how I'm doing everything wrong.
The messages I received this time were more of the same, with most saying one of the following:
- I should be putting the extra $751 I'm paying toward my mortgage each month into a high-yield savings account or certificate of deposit.
- I should be borrowing more against my home so I can invest in rental real estate (apparently they don't know I used to be a landlord).
- I should always have a mortgage, so my settlement would be more fair if I ever get a divorce. Yes, I am totally serious about that one!
I don't care what they think or say, and I believe they're incorrect for more reasons than one. I will continue paying extra toward my 15-year home loan until it's paid off, and here's why.
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Returns aren't everything
Sure, I would earn more interest if I put the extra $751 per month I'm currently paying on my low-rate home loan into a high-yield savings account or certificate of deposit (CD), since rates are over 4.0%. However, I've found over time that returns aren't everything — and that some decisions make sense for my family even if they're not the mathematically optimal choice.
For example, we paid off our old home and went mortgage-free for several years before we upgraded to our current home in 2020, and I absolutely loved being debt-free during that time.
We also bought a new SUV in cash last year, even though the manufacturer was offering 0% APR for 72 months. I haven't had a car payment for more than a decade, and I don't plan on having one now.
Early retirement is easier when you have zero debt
We are also gearing up for early retirement in about five years, when my husband and I are around 50 years old. This means we probably make different decisions than someone who plans to work until age 65 or 70. Specifically, we're trying to get a few things done before we pull the plug on our work and live off investment income.
We have a two-year emergency fund for early retirement, 15 years of expenses in a brokerage account, and the rest of our retirement funds in traditional accounts like a 401(k) and Roth IRA. The brokerage funds will help us cover retirement expenses starting at age 50 until we can access our 401(k) funds at age 59 ½.
Not having a mortgage at age 50 will lower our expenses by $1,749 per month (almost $21,000 per year) right off the bat, which will help us cover our living expenses during retirement using the 4% rule. Without a mortgage, our costs will be limited to taxes, insurance, groceries, utility bills, travel, and regular living expenses.
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People don't have all the information
A few people who emailed me said having a mortgage is beneficial in case I get a divorce, and that not having a mortgage would put me at risk of being a victim of home title fraud. That first part is not on my radar since I've been happily married for almost 20 years and plan to stay that way. That second part is partially true, although I use an identity theft protection plan that monitors for home title fraud and comes with $1 million in identity theft insurance.
Men who contacted me also insisted I would be missing out on the mortgage interest tax deduction when I pay off my home loan, even though this hasn't been true for a while. The Tax Cuts and Jobs Act of 2017 increased the standard deduction for taxpayers through the end of 2025, which made it so that just over 10% of taxpayers itemize their taxes in a given year. This means around 90% of taxpayers (give or take) claim the standard deduction and, therefore, aren't able to deduct mortgage interest when they file their taxes. My husband and I count ourselves in the majority who claim the standard deduction as well.
The Tax Cuts and Jobs Act is set to expire on December 31 if not renewed. But considering President Trump signed the TCJA into law in 2017, many believe most of its provisions will be extended. We'll have to wait and see to know for sure.
Debt freedom is priceless
Finally, having an entirely debt-free lifestyle is one of the best feelings in the world — especially when you have kids. Being debt-free frees up more cash to save and invest, and to dream big when it comes to how you want to live your life.
My family has thrived with our debt-free lifestyle, taking the opportunity to travel with our kids to more than 40 countries, go to all kinds of concerts and events, and say "yes" to countless opportunities from overnight summer camp for our kids to pricey school field trips, sports, and lessons.
I slept great at night without a mortgage on our old home, and I sleep great now, knowing the 15-year loan on my current house will be paid off in a few short years. Returns aren't everything, and having true financial freedom is priceless.
