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General, Assets and Investment Planning

Should I Pay Off My Mortgage?

Many say purchasing your home is one of the biggest decisions you make in your life, but very few talk about how big of a decision it is to pay off your home.

There’s a lot of disagreement on this topic, and clients often find themselves lost and uncertain as to what they should do. With you guiding the conversation, clients will gain a more nuanced understanding of why and why not to consider paying off their mortgage. Help your clients identify every facet of the equation and its relation to their own financial situation.

This flowchart covers important decision-making factors a client must consider when paying off their mortgage, such as:

  • Thoroughly weighing the pros and cons involved in this big decision, and how they specifically relate to their financial situation.
  • Recognizing what degree of flexibility they may or may not have after paying off the mortgage.
  • Considering any tax implications that may result from paying off the mortgage.
  • Identifying sound reasons for paying off the mortgage, and determining the best course of action if applicable.
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What Customers Are Saying About Us

Hundreds of other advisors are actively using fpPathfinder. Read what those lovely people have to say about us.
“This is probably the best money I have ever spent. I love fpPathfinder!”
— Phillip, an advisor in North Carolina
“The white-label feature in Deluxe is really fantastic. It is really powerful to talk through the decision tree with a client with our logo & color options on the chart, frankly, because it makes us look smarter!”
— Bill, an advisor in New York
“With working from home most of 2020, we wanted to still catch some face time with our clients. We used the checklists and flowcharts to conduct webinars covering various topics. In fact, having the charts readily available, we were able to do many of these on a weekly basis, knowing the material was pretty much already established. We had such great feedback that we are continuing the webinars into 2021. We have many that actually look forward to our meeting times, and found being able to have the flowchart or checklist available to work on their own later was an added bonus.”
— An advisor in Texas
“Thanks for having all of these so conveniently put together. We were working on many of these for years, but often could not find the time to keep them updated. This has been a blessing to our firm. ”
— An advisor in Texas
“I love your resources, you guys & gals have helped us take our practice to the next level!”
— Trevor, an advisor in California
“I think fpPathfinder is the best tool I’ve ever seen in the financial planning realm. I spend an unbelievable amount of time researching some of these issues that have been boiled down to one page: consulting with other experts, citing specific sources as a backup, reviewing my work, and coming to a final conclusion.”
— Jeff S, an advisor in Missouri
“The charts are probably as much value to me (as advisor) as they are when given to a specific client. I know and understand the topics covered, but it can be a lot faster to refresh with a quick glance at the chart’s decision tree vs having to read through regulations”
— Larry, an advisor in Oregon
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