Quote:
Originally Posted by corn18
Quote:
Originally Posted by David70
Still a guaranteed 6% is I believe impossible to find.
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Ding, ding, ding, we have a winner! You MIGHT make more than 6% on your investments. You WILL pay X% interest on your mortgage. Hard to quantify risk, and that's why there are at least 771,347,965 threads on the financial fora asking the same question: Pay off my mortgage or invest? It's really more about emotions than math in the grand scheme of things. It does FEEL really, really good to own your house and have absolutely zero debt. But the numbers say a 2.75% fixed rate 30 year loan along with three 0% 7 year car loans comes out ahead. But that doesn't make me feel as good as being debt free. |
+1
There is something about not having to make any payments and actually owning an asset. Being debt-free provides a lot of financial flexibility.