Reply to Saving for college vs paying off house

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I hope your husband can consider the possibility that his strategy might not be the best one for wealth accumulation.

Perhaps print this article below and see if he'll read it?  I find Ric Edelman to be very sensible.

http://www.edelmanfinancial.com/education-center/articles/1/11-great-reasons-to-carry-a-big-long-mortgage[/quote]

OP here. I just read through that and it was very interesting.

A point my dh keeps coming back to is that over the course of a 30 year mortgage he will pay 300k in interest. That number is what bothers him the most. He doesn't think that he can get 300k in investment over 30 years (I think we can). [/quote]

Most of these PPs are lunatics.  Do you all like just giving your money away to the government when you don't have to?  The tax benefits of the mortgage interest deduction and 529 plans aren't nothing.  Paying off your mortgage for "peace of mind" when you're perfectly able to otherwise pay it monthly is just stupid.  Why don't you point out to your husband how many 100s of thousands of dollars he'll be LOSING in interest if he doesn't stick some money in the 529s.  Someone pointed out that your husband doesn't like carrying a lot of debt.  I think it's pretty sh*tty that he'd prefer to just saddle your kids with it instead.[/quote]

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