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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]I am super worried about getting laid off in my 50s, this is why I keep enough money to pay off my mortgage in liquid investments. I would be more worried with my mortgage paid off and not having as much in liquid investments. After all, I'd still need to pay property taxes even without a mortgage.[/quote] +1 I don't pay off my mortgage to increase my sense of security. I have locked in low mortgage rates and would hate to have to tap a HELOC at higher rates if I needed cash for bills--instead I keep enough in cash, ibonds, cds, t-bills, and short term bonds to more than cover the remaining amount on my mortgage. It helps me sleep at night and helps me feel more free to invest the rest of my assets in the stock market.[/quote]
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