Canadian Wealth Secrets

The Million Dollar Mistake Most Canadians Are Making Part 2 | Pay Off Your Mortgage? A Case Study

Kyle Pearce, Jon Orr Episode 151

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0:00 | 37:22

Is it smarter to pay off your mortgage fast—or start investing now?

Many Canadians instinctively rush to pay off their mortgage early, thinking it’s the safest financial move. But what if that strategy is actually costing you long-term wealth? 

In this episode, Jon Orr and Kyle Pearce unpack a common—and costly—mistake: letting equity sit idle in your primary residence while missing out on investment growth. If you’ve ever wondered whether you should pay down your mortgage faster or start investing today, this one’s for you.

Here’s what you’ll walk away with:

  • A side-by-side breakdown of two real-world scenarios—aggressive mortgage paydown vs. early investing—and the long-term impact of each.

  • A surprising insight into why investing earlier, even in smaller amounts, can outperform dumping extra cash into your mortgage.

  • Clarity on the emotional vs. mathematical sides of money decisions—and how to find the right balance for your risk profile and goals.

Hit play to find out which strategy builds more wealth—and how to start making smarter decisions with every extra dollar today.

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Canadian Wealth Secrets Show Notes Page:

Consider reaching out to Kyle 

  • …taking a salary with a goal of stuffing RRSPs;
  • …investing inside your corporation without a passive income tax minimization strategy;
  • …letting a large sum of liquid assets sit in

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If you listen to podcasts like The Rational Reminder with Ben Felix & Cameron Passmore, The Canadian Investor, The Canadian Real Estate Investor, Build Wealth Canada with Kornel Szrejber, ChooseFI with Jonathan Mendonsa & Brad Barrett, Afford Anything with Paula Pant, The Ramsey Show with Dave Ramsey, BiggerPockets Money, The Money Guy Show with Brian Preston & Bo Hanson, Invest Like the Best with Patrick O’Shaughnessy, Masters in Business with Barry Ritholtz, The Wealthy Barber Podcast with David Chilton, Financial Audit with Caleb Hammer, In the Money with Amber Kanwar, The Loonie Hour with Steve Saretsky, or More Money Podcast with Jessica Moorhouse — we’re confident you’ll enjoy Canadian Wealth Secrets too.

Canadian Wealth Secrets is an informative podcast that digs into the intricacies of building a robust portfolio, maximizing dividend returns, the nuances of real estate investment, and the complexities of business finance, while offering expert advice on wealth management, navigating capital gains tax, and understanding the role of financial institutions in personal finance.