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<I just finished watching today's episode of Oprah as well and had the same reaction to tip #1!! DH and I recently made the decision to start paying extra towards our
mortgage on a monthly basis, so I was disappointed to hear this advice. I would have to agree with you - that the long term interest savings are the real benefit - and
the psychological boost of "beating" the system and getting that much closer to owning your home free and clear!! >

It may be a psychological boost to pay off your mortgage early. But from a financial standpoint it seems it would make more sense to keep the mortgage. If the interest of your mortgage is in the single digits, you should over time easily be able to earn more money by putting the money in equities (rather than pay off the mortgage). The historical return of equities have been higher than the single digits.

On the other hand, if this was the 70's with interest rates in the 20% level, the advice might different.

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