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Reply to "Why not pay down the mortgage?"
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[quote=Anonymous]A lot of responders on various threads advise against paying down a mortgage. Can someone walk this dummy through why that's the best approach? We have some investments indexed to the market and otherwise just have cash sitting around, some of it in wimpy things like CDs that earn almost nothing. We are risk-averse and want to keep a chunk of money pretty accessible in case something disastrous happens. Our mortgage rate is almost 4% and we have $700,000 left on it. DH keeps saying he wants to buy gold and stick it in a safe, which...let's just say doesn't quite seem like the right approach to me. :wink: Very healthy household income, but both of us are from very modest backgrounds and have no financial savvy. [/quote]
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