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Reply to "If you were to inherit $2 million, would you pay off the remaining $150k of your very low interest mortgage?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]To those of you that wouldn't pay off the mortgage, how many times in life do you spend money on yourself that you don't need to spend, like on an expensive vacation, jewelry or a new car? Those expenses are more wasteful than paying off a mortgage.[/quote]. I wouldn’t pay off our low rate mortgage and we live very well. Several trips a year, eat out at nice restaurants often. We are not into jewelry and our cars are older, because that’s what we prefer. We can buy new car if/when we need. It may be freeing for some to pay off their mortgage, and there is nothing wrong with that, but for us the math doesn’t make sense. We max out retirement and invest in low fee S&P index funds and that have done well. The money is better served being invested…for us. [/quote] Why wouldn't you do all that - invest, save and pay off the mortgage? Its not one or the other, it should be all.[/quote]
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