Should I pay off my mortgage or start investing?

[Candice Ravin Woodfin]

I'm months away from paying off my mortgage. I had planned to research 1st quarter, pay off debt and then hit the ground running.  I have no desire to househack. So now I'm wondering should I take that lump and use for down payment instead of paying off my mortgage. 

[Jon Puente]

Hey Candice, 

If you are months away from paying off your mortgage, then it doesn't really matter either way.  Some will say "Be debt free!" and some will say "Leverage your money!"  It really depends on your risk tolerance.  

The truth is that if you payoff your mortgage, then you take that payment (you used to make) and stack up as quickly as possible to invest.  If you do not pay off your mortgage, then you have money readily available to invest, but you also have a mortgage payment on the side.  

But if we are only talking a few months then it does not matter much, unless you need that money right now.