Subject: Re: FRIDAY THE 14TH by Matatk on 2022/1/14 20:09:48
Quote:
GRIS wrote: MATT, ONE OF THE BEST FINANCIAL MOVES I EVER MADE WAS PAYING OFF THE HOUSE WHEN I HAD A CHANCE. THE INCREASE IN DISPOSABLE INCOME WAS SECOND ONLY TO GETTING THE LAST TWO KIDS OUT OF COLLEGE :-) DEBT IS INSIDIOUS AS A TAPEWORM.
If you ask the financial "experts" you should take that extra money and put it into a mutual fund or index making 12% and then in 30 years you'll be ahead blah blah blah. We have an extremely low interest rate in my opinion, 2.75%. Compare that to the mortgages of the '80s at 10 or 12% and it's insane. But paying off your mortgage early is a huge psychological benefit in addition to the savings in interest. We've always made extra payments, just looking to supercharge that a bit since we're finally in a position to do so. This won't happen overnight but I'm looking to pay it off in the next 5 years hopefully instead of 11.
