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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]So many threads supporting paying off mortgages early.

People who tell you to pay your mortgage off early, especially when you have a rate well below HYSA rates, don’t understand compound interest or inflation.  20 years from now your current mortgage payment will be the same, but in 2043 dollars, you’re paying far less in buying power.  And, that entire 20 years, you have the lump sum you could have used to pay off the mortgage invested and compounded for the entire time.  [/quote]

You don’t understand how age works. Someone who  took out a 30 year mortgage at 55. Might want to pay it down sooner as at 67 income drops like a brick. [/quote]

NP. I have never understood why people want to pay off a mortgage by retirement. Why do people think people want to stay in that property? The whole 30-year mortgage thing assumes people are going to stay in one house forever and then stay there during retirement. I don't understand it. I am a young GenX. The longest place I have lived is 6 years. No way I am paying off a mortgage by retirement...because who cares? I won't be living there in retirement. I will be selling and downsizing.[/quote]

Because not everyone plans to move or downsize.  I hope to upsize.  We have a very small house but not having a mortgage is freeing.[/quote]

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