Mortgage free within the beltway?

[Anonymous]

Anonymous wrote:All these people saying it's a bad idea don't have a clue how interest works.

Do you have any idea how much interest you pay on a 500k note? Accelerating that pay off saves tons and tons of money.

Do you have any idea how much money that money would have made invested conservatively in stock market over the last 30 years?

[Anonymous]

We went to a 15 years mortgage a while back so will have it paid it soon-- maybe 5 years before retirement and while the kids are in college. Wanted the freedom of some additional cash flow and a lower interest rate.

[Anonymous]

We paid it off. peace of mind

[Anonymous]

I think it's silly to say it's a bad financial decision. You can always invest the money you would have paid towards a mortgage.

[Anonymous]

I doubt you are real middle class. But, if you want to pay it off go for it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:All these people saying it's a bad idea don't have a clue how interest works.

Do you have any idea how much interest you pay on a 500k note? Accelerating that pay off saves tons and tons of money.

Do you have any idea how much money that money would have made invested conservatively in stock market over the last 30 years?

Invested conservatively? It may have lost money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:All these people saying it's a bad idea don't have a clue how interest works.

Do you have any idea how much interest you pay on a 500k note? Accelerating that pay off saves tons and tons of money.

Do you have any idea how much money that money would have made invested conservatively in stock market over the last 30 years?

Yes. But do you have any idea how much it will make over the next 30? No, and neither does anyone else. Unless you invest really conservatively- and mortgage rates are higher than US treasuries…

[Anonymous]

We did it. We have a lot of money invested elsewhere. We were looking ahead to 2024 and beyond.

[Anonymous]

Are you worried about losing your income stream? Or wealth? Rationally that’s the only reason a mortgage payment would be a psychological burden. Otherwise try counseling.

[Anonymous]

Most wealthy people I know all live in paid off homes. These are hardly stupid people (some are in finance work). There is something about not having a mortgage, one less bill to worry about. As for us, we recently paid off the balance of 3.5% mortgage..now sitting on a $2.5m million home with $25k annual taxes and insurance. No regrets.

[Anonymous]

Anonymous wrote:All these people saying it's a bad idea don't have a clue how interest works.

Do you have any idea how much interest you pay on a 500k note? Accelerating that pay off saves tons and tons of money.

I think you’re the one who doesn’t understand what interest is.

[Anonymous]

We did. It’s awesome. We have a great income and nearly no expenses. I don’t spend my time concerned with the slight potential income I could have having invested that amount instead.