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Reply to "Why not pay down the mortgage?"
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[quote=Anonymous]Two reasons: 1) You can make more if you invest the mortgage proceeds long term in a total stock index fund. You say you like CDs and are risk-averse. In that case, this does not apply to you. (Your risk aversion is a mistake, I suspect.) 2) Liquidity. You have a bundle of cash, or money in an index fund you can get to if needed. If you have a paid off house and things go to hell and you have no income, you are stuck. You will not get the money out of that house with a new mortgage. (If 62 or older you might qualify for a reverse mortgage but there are downsides with that.[/quote]
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