Reply to Would you save extra money for retirement or put toward mortgage debt?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]i would definitely save for retirement over paying off your mortgage.  your return is going to be far better in the stock market over a 30-40 year horizon.  is this guaranteed? no, but i think to assume you are going to get a worse than 3% annualized return over that period of time is overly cautious.

i would invest as much as you can, as early as you can and let that money work for you. if you spend the next 10 years paying off your mortgage and neglecting your retirement savings, you are going to be behind the eight ball. [/quote]

+1. You can always pay off your mortgage once you retire.  I say this as someone who is retired in their 40ties.[/quote]

Plus retirement protected from creditors and bankruptcy. [/quote]

Huh?!? If you have creditors and have to declare backruptcy, you should get a job and not be retired.[/quote]

you missed the point.  if you get yourself in a bad situtation, creditors can't get to your retirement money but they can get to your house.  so when you come out of it all, you will have your retirement $$$ intact.  i don't think PP was suggesting that someone whose financial affairs are a wreck should retire. [/quote]

Thanks PP - this is exactly what I meant.[/quote]

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