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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]This is kind of an interesting question from the perspective of economic class. Like most people, I will never be worth $2 million and don't have any living relatives worth that much (our parents are dead anyway). I owe over $100k on my low interest mortgage and probably WOULD pay it off if I magically came into a huge windfall. My reasoning is this: In my tiny experience, life has a way of chewing away at any money that might accumulate. An unexpected layoff, child's medical emergency, parental dementia, broken cars. At some point down the road, I know that the money will be all gone and the best move I can make for my mood is to remove that mortgage debt hanging over my head. It's not rational but I know I'm not as clever as most of the folks on DCUM.[/quote]
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