“We’re ahead on the home loan” is one of my least favourite phrases

“We’re ahead on the home loan” is one of my least favourite phrases.

Ahead compared to what?

Ahead of the original 30 year loan term that quietly gets reset every time your broker refinances the loan. So on paper you are debt free at 70?

Or ahead of the point where you actually want to slow down work, spend more time with family, or have some choice about how you use your time?

In my experience being “ahead” only matters relative to the life you want to live.

For some people aggressively paying down the home loan makes sense. For others, delaying repayments to use opportunities to build wealth can be a great overall decision.

The question is not whether you are ahead.
It is whether you are on track to meet your goals.

On track if interest rates go up.
On track if the house needs major repairs or that renovation finally happens.
On track if you need to take time off work, something that becomes more likely the longer you home debt (20-30 years is a long time!)

Most people do not actually know when their home loan will be paid off because it is not viewed in the context of a full financial plan.

One that considers income changes, lifestyle choices, investment strategy, and whatever else life throws at you.

Security is knowing that even if one, two, or three things do not go your way, you are still moving on the right track.

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