Pay Off Your Mortgage or Invest? 

Written By Amanda Greville

If you’ve spent more than five minutes on financial TikTok, Instagram, Reddit, or Google, you’ve seen the noise:

  • “Always invest instead of paying off your mortgage.”

  • “Never carry debt when you could be mortgage-free.”

  • “Leverage everything while you’re young.”

  • “The lowest mortgage rate is all that matters”.

Everyone seems very confident.
Everyone seems to have the answer.

And yet, most homeowners feel more confused than ever.

Here’s the truth that rarely gets clicks: there is no universal “right” answer when it comes to big financial decisions like paying off your mortgage or investing. The decision is highly individual, and personal.

Why the Internet Loves Absolutes (and Real Life Doesn’t)

Online financial advice is built for attention and scale, not nuance.

Blanket statements perform well because they’re:

  • Grabbing your attention

  • Easy to understand

  • Easy to share

  • Easy to argue about

But real life doesn’t work in absolutes.

Two homeowners can be the same age, same income, and same mortgage balance - and the best decision for each of them can still be completely different.

Why? Because money decisions aren’t just math. They’re about:

  • Risk tolerance

  • Cashflow

  • Stress levels

  • Life stage

  • What helps you sleep at night

And none of those show up in a calculator.

Markets Can be Volatile. Interest Is Guaranteed.

This is one of the most important distinctions people overlook.

Investment returns are expected, not owed.
Mortgage interest is guaranteed.

That doesn’t mean investing is bad, far from it. It means the comparison isn’t as clean as the internet makes it sound.

Some people are perfectly comfortable with:

  • Market volatility

  • Staying invested during downturns

  • Long time horizons

For them, investing first may absolutely make sense.

Others value:

  • Certainty

  • Predictable outcomes

  • Reduced monthly obligations

For them, eliminating a guaranteed 4–6% mortgage cost and freeing up monthly cashflow is the “win”, emotionally and mathematically.

Neither group is wrong.

Why Age Alone Isn’t the Deciding Factor

You’ll often hear advice like:

“If you’re young, invest as much as possible. If you’re older, scale back AND you should be mortgage free by retirement.

Time horizon does matter, but age alone is an oversimplification.

Some 30-year-olds prioritize stability, flexibility, and lower fixed expenses.
Some 60-year-olds are comfortable using leverage strategically and investing with intention.

The better question isn’t “How old are you?”
It’s:

  • How stable is your income?

  • How much risk can you actually tolerate?

  • What does peace of mind look like to you?

  • How important is monthly cashflow?

The “Third Option” No One Talks About

Most online debates frame this as a choice between:

  • Pay off the mortgage or

  • Invest the money

In reality, many homeowners take a hybrid approach.

For example:

  • Pay down the mortgage to reduce guaranteed interest costs and improve cashflow

  • Then access a portion of home equity to invest

  • If those investments generate income, the interest cost may be tax deductible when structured properly

This approach isn’t for everyone, and it must be set up correctly. But it highlights the bigger point:

This doesn’t have to be an all-or-nothing decision.

The Most Overlooked Factor: Peace of Mind

Here’s what almost never gets talked about online:

Some people simply feel better knowing their mortgage is gone, or shrinking fast.

That peace of mind:

  • Reduces stress

  • Increases flexibility

  • Makes job changes or life pivots easier

  • Improves overall financial confidence

Whatever helps you sleep at night matters. And it’s allowed to matter.

So… What’s the “Right” Answer?

The honest answer?

The right answer depends on you.

Your income.
Your goals.
Your tolerance for risk.
Your cashflow.
Your desire for certainty vs growth.

Big financial decisions deserve context, not noise.

And they’re best made with professionals who understand how the pieces fit together.

If you feel overwhelmed by all the conflicting advice online, that’s not a failure on your part.

It’s a sign that you’re asking the right questions, and that your situation deserves more than a one-size-fits-all answer.

Talk to your licensed mortgage agent, financial advisor, and accountant.

Look at the full picture.

And choose the path that aligns with both your numbers and your nervous system.

Because personal finance is exactly that - personal.

Amanda Greville
Next

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