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Few topics cause more division among economists than the age-old debate of whether you’re better off paying off your mortgage earlier, or investing that money instead. And there’s a good reason why that debate continues; 双方都提出了令人信服的论点。

对许多人来说，抵押贷款是他们一生中最大的一笔支出。 所以只要有机会，你就会想尽快还清。 On the other hand, a mortgage is also the cheapest money you will ever borrow, and it’s generally considered good debt. 你得到的任何额外的钱都可以用在其他地方。

然而，现实并没有那么清晰明了。 对一些房主来说，提前还清抵押贷款是正确的选择。 而对其他人来说，投资他们的钱会更有利。

提前还清抵押贷款的好处

• You’ll pay less interest: Each time you make a mortgage payment, a portion is dedicated towards interest, and another towards principal (we’ll ignore other costs for now). 利息是按月计算的，包括你的剩余余额、你的分期偿还期限以及与贷款机构商定的利率。

如果你有30万美元的抵押贷款，30年固定利率为4%，你的月供将在1,432.25美元左右。 当你还清抵押贷款时，你将总共支付515,609美元，其中215,609美元是利息。

If you wanted to lower the total amount you pay on interest, you don’t need to make a large lump sum to make a difference. If you were to increase your monthly mortgage payment to $1,632.25 (a $200 a month increase), you would be saving $50,298 in interest, and you’ll pay off your mortgage 6 years and 3 months earlier.

虽然这是一个过于简单的例子，但它表明，从长远来看，即使是每月还款额的小幅增加也会产生很大的影响。

• 本金的每一分钱都有保证的投资回报： 你为你的抵押贷款额外支付的每一笔款项都会直接影响到你支付的利息。 事实上，每一笔额外的支付都是一笔投资。 与股票、债券和其他投资工具不同，你的投资肯定会有回报。
  
• 执行纪律: 每个月明智地投资你的钱，而不是把钱花在其他地方，这需要真正的承诺。

Your monthly mortgage payments are a form of enforced discipline since you know you can’t afford to miss them. It’s far easier to set a higher monthly payment towards your mortgage and stick to it than making regular investments on your own.

Besides, once your home is completely paid off, you can dedicate a larger portion of your income towards investments, your children or grandchildren's education, or simply cut down on your working hours.

投资的好处

• 更大的投资回报： The biggest reason why you should invest your money instead comes down to a simple, green truth: there’s more money to be made in investments.

Suppose that instead of dedicating an additional $200 towards your monthly mortgage payment, you decide to invest it in a conservative index fund which tracks S&P 500’s index. 你今天用200美元开始你的投资，然后在接下来的30年里每个月再增加200美元。 到期限结束时，如果指数基金的年收益率为5%，你将获得91,739美元的利息，你的投资总价值将达到163,939美元。

如果你认为5%的年化收益率有点过于乐观，悦博体育只需看看标准普尔500指数在2002年12月至2012年12月期间的表现，平均年化收益率为7.10%。

• 更大程度的多样化： Real estate has historically been one of the safest vehicles of investment available, but it’s still subject to market forces and changes in government policies. The forces that affect the stock and bonds markets are not always the same that affect real estate, because the former are subject to their issuer’s economic performance, while property values could change due to local events.

悦博体育通过把多余的钱用于投资，你可以使你的投资组合多样化，分散风险。 如果你完全依靠你的房子的价值，你实际上是把所有的鸡蛋放在一个篮子里。

• 更大的流动性: 房子是一项伟大的投资，但即使在最好的情况下卖掉房子也需要时间。 So if you need emergency funds now, it’s a lot easier to sell stocks and bonds than a home.

Misael Lizarraga是一位房地产作家，热衷于向首次购房者和投资者传授房地产概念。 他经营realestatecontentguy.com网站，并为北美几家领先的房地产博客撰稿。