It’s fair to say Australians have an obsession with property – it’s often considered a rite of passage to adulthood to buy our own home.

After that, the next common goal is to pay down the mortgage on that home as quickly as possible. I mean, we don’t want to pay more interest than necessary right? Or do we?

After buying a home, many Australians then turn their sights to paying it off as quickly as they can. But is that really the best move?Credit: Dominic Lorrimer

What you may not realise is that if you focus solely on paying down the mortgage on your own home and ignore other avenues of generating wealth such as investing, you’ll have less choice than you think.

That’s because unless you’re willing to downsize or bring in a border – that home isn’t going to generate an income. It’s about understanding your home is an asset. Not an investment.

I want you to consider paying more off your mortgage and investing. You might think once the mortgage is gone, you’ll start investing then. But let me explain why it’s better to start now with a case........

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