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Money and Finances
Reply to "If paying off your mortgage is dumb, why do so many rich people do it?"
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[quote=Anonymous][quote=Anonymous]For me, I admit fear is a part of it. A big one. I’m a fed, so less income in general than many on this board. I remember many older colleagues whose finances got hit massively by 2008 to the point they had to pull back retirement papers. Their TSP dropped like a rock and they had to keep working. Some for years longer. It may be irrational but I’d feel better if my housing was handled before I’m at retirement age if at all possible. [/quote] I feel the same way, and I'm not a fed. Our mortgage is at a very low rate, so maybe when we retire in 10 or so years we'll just set money aside in a safe vehicle where the return exceeds the interest rate. That's splitting the baby. [/quote]
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