Using investments to pay off the mortgage can provide financial independence and options for the future.
There might be taxes on the investments, but cashing out CDs could provide funds to become mortgage-free.
Paying off the mortgage now allows Kate to decide what to do with her property later without the financial burden.
Are there penalties for cashing out CDs?
—There may not be penalties if the CDs have already rolled over. However, taxes may still apply.
Should Kate pay off the mortgage even if she plans to move?
—Yes, paying off the mortgage now doesn't affect the decision to move. The funds can be transferred to a new property.
Will paying off the mortgage provide financial independence?
—Yes, being mortgage-free frees up monthly expenses and provides more financial flexibility.
09:44Kate is considering using her investments to pay off her mortgage.
13:05Dave suggests cashing out her CDs to become mortgage-free this week.
12:25Paying off the mortgage won't affect future property decisions.
