Why did we pay off a low interest mortgage early? | 9 to FI 036 | 9 to FI Podcast

Why We Paid Off a 3.75% Mortgage Early (and What My First Year of Retirement Looks Like) | Josh & LoriWhy would Josh and Lori pay off a low-interest 3.75% mortgage years early—before Josh retired? On 9 to FI, Josh hosts the show solo while co-host Elliot travels in France, and welcomes first-time guest Lori for a candid conversation recorded in a Columbia, Missouri hotel before a Nick Hexum concert. They explain paying off their primary home mortgage in 2024—about 19 years into a 30-year loan—despite common advice to invest instead, with Lori emphasizing emotional security, reduced stress, and eliminating a major monthly expense before relying less on Josh’s income. They discuss budgeting changes, remaining costs like taxes and insurance, and wanting to avoid future debt. Lori also shares an honest assessment of Josh’s first year of retirement, including struggles with structure, balancing fun with chores and rental rehabs, and how rental demands have affected his mood and routines, alongside benefits like more help at home.00:00 Welcome and Guest Setup01:36 Meet Lori in Columbia02:51 Why Pay Off Mortgage04:46 Emotional Money Mindset06:49 Low Rate vs Investing Debate09:24 Debt Free Future Plans12:03 One Year Into Retirement14:00 Finding Structure and Balance15:52 Rental Rehab Season18:28 Household Chores and Roles21:01 Wrap Up and Future Episode Tease21:38 Hotel Room BloopersDo you have feedback or suggestions? We want to hear from you!Contact Elliot: [email protected] Josh: [email protected] of these products help the show. Thanks for your support!Mint Mobile - We both use ⁠Mint Mobile⁠ and save a ton on our phone plan: ⁠https://fbuy.me/vgAmz⁠⁠Empower⁠ is Josh’s choice for Net Worth and BudgetingWanna create a podcast? We use ⁠Descript⁠Looking for a new credit card?  We’re big fans of ⁠Chase⁠⁠Buy Us a Coffee⁠ - One time donation or monthly, it’s up to youWant to save money on gas? Try ⁠Upside!⁠Books mentioned in this episode:Come find us and subscribe on YouTube: http://www.youtube.com/@9toFI