Cashing out and enjoying a life of financial independence first requires the elimination of life’s large expenses. One of the largest expenses many of us face is a mortgage. But the idea of paying off a mortgage early draws many critics.

Unfortunately, mortgages are kind of a necessary evil in today’s society. Real estate prices have reached a level that make paying cash for a home just about cost prohibitive for most families. So, the large majority of us obligate ourselves to pay some ungodly amount each and every month for the next thirty years of our lives. Three decades is a long time.

If you are an up-and-coming thirty-something with a fast-track career and a big income to match you are probably looking to upgrade that starter home you bought a few years back. Of course, I’d much rather stay in the starter home and pay it off early, but I understand most people outgrow starter homes when they have kids.

At 36 years-old you go out and buy a $300,000 house with just enough down to get financing approved. You’ll be 66 years-old before that mortgage loan is paid off. That means for the next three decades you will have to make that big mortgage payment every single month, pretty much guaranteeing you’ll never be able to cash out.

For this reason alone, all the arguments against paying off your mortgage early are void in my book. Sure, you’ll lose some tax advantages, and the money could be invested in the market at a higher rate than your mortgage is financed, etc, etc. But for me, the freedom of not owing anyone money, especially on your home, is priceless.

Just think of how fast you could accumulate serious wealth buy simply investing what would have been a mortgage payment each month. Whether that is $900 a month, or $2,000 a month, it wouldn’t take very long to be able to seriously consider cashing out. Simple math tells us that $2,000 a month for ten years is nearly a quarter of a million dollars, and that doesn’t account for compound growth over that same decade. Imagine how much you could accumulate in three decades!

So decide what you really want – a tax advantage for thirty years, or the chance to be financially independent in less than thirty years. The choice is yours. As for us, well, we are moving forward with our plans to pay off our mortgage so we can start investing even more money towards our cash out nest egg.