Do most millionaires pay off their mortgage?
A quick way to frame “pay it off” vs “keep it and invest” thinking.
Do most millionaires pay off their mortgage? This question often comes up when homeowners weigh the peace of mind of being debt-free against the potential upside of investing.
Answer
Many surveys of high net worth households show a mix of behaviors: some millionaires carry mortgages, while others prioritize early payoff. Those who keep mortgages often do so because they can invest excess cash at potentially higher returns than their loan rate. Others prefer the risk free “return” of paying down principal and value the security of owning their homes outright. Popular financial authors frequently highlight debt free millionaires who used accelerated payoff as part of a disciplined savings plan. Ultimately, millionaire status usually comes from consistent investing, controlled spending, and strategic use of debt, not from any single decision about mortgages.
Use our mortgage payment comparison tools to see how different rates and payoff speeds change total cost.
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