$1000 extra mortgage payment saves how much interest?

How much interest can be saved by making just one payment of $1000 to your mortgage? I’m going to breakdown the numbers and compare the principal payment to the interest payment to see just how much money can be made making an extra mortgage payment at different times during the mortgage. I will also compare this to a scenario where the money was invested instead, as it is often the case in 2019 that paying down the mortgage is not the choice that will make the most money.
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My primary investment strategy is long term high yield dividend investing. I have been an actively trading the market for over 20 years and have built most of my wealth by reinvesting my dividends and following my 14 Personal Rules of investing. I actively trade options on both the American and Canadian Stock exchanges using options strategies and buying and holding high yield dividend paying stocks.
I generate monthly income in two ways. Averaging more than an annual 7% return by collecting dividends on high yield dividend stocks that I hold. The second income stream comes from the selling of option premium and taking advantage of theta decay. This neutral strategy allows me to make money in both bull and bear markets and limits my risk. Both of these strategies are suitable for passive income and create a stable predictable safe passive income.
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Levi Woods
Disclaimer: I am not a financial planner and am not offering investment advice. This is an opinion channel only and should not be taken as any form of financial advice. I receive a small commission from the purchase of any item from using the links listed above. There are financial risks involved in taking on any monetary transaction that I discuss in my videos.
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