If you are looking to pay it off for retirement purposes, there was an article in best life talking about how you are wasting money by paying off your mortgage instead of putting it into a retirement account. You are putting a taxed dollar (.60-.70) into your house, when you could be putting a dollar (1.00) into your 401k. Worth a look.
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Payoff Mortgage or not?
- Thread starter midlifeguy
- Start date
Quote from day7793:
Is this a stock trading forum or a real estate forum? I am confused by the sheer number of real estate posts.
Stock trading does not exist in a vacuum.
Your comfort level for taking risk is surely affected by many other factors. Having a paid off house can increase one's comfort level if they don't have to worry about making a mortgage payment every month.
On the flip side, I have seen sales people that could not perform unless something was about to be repossessed. Know thyself and then do what works best for you.
Joe.
Quote from midlifeguy:
If you have enough money to payoff your mortgage,
would you do it? I have heard pros and cons but do not
want to risk losing money in the markets with money that could be used to be house debt free.
Pay mortgage off... what, are you NUTS?
Give up your opportunity to piss'n moan for a federal bailout?