"Pay Off Your Mortgage as Fast as Possible"

Aggressively paying off a 3-4% mortgage instead of investing in assets earning 8-10% annually can cost you hundreds of thousands in long-term wealth, a mistake Dave Ramsey champions despite its math flaws. The average investor who prioritizes index funds over extra mortgage payments gains 30% more wealth over 30 years, outperforming the typical homeowner who follows the #6 advice of debt elimination. For a $300,000 loan, this strategy sacrifices $280,000 in potential returns, making it 50% worse than simply following the #5 advice of disciplined investing.