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Reply to "A nice problem to have "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]No one is taking into account the peace of mind and psychological impact of having a paid off mortgage and owning your house outright. Yes it doesn’t make practical, logical sense to pay off a 3% mortgage. But the feeling you get can’t be discounted and has some intangible value.[/quote] It has very real value when that "super safe Fed job" you got suddenly disappears. I will never understand the people who want to hold on to debt forever. I have so little debt my credit score is crap. But I don't care because I don't buy stuff I can't afford. - signed age 60, own 6 rentals plus my home outright, $2M invested and work is completely optional. [/quote] When you can easily pay off your house from investments any day of the week, it doesn’t cause you any distress to have a mortgage. Our remaining mortgage is $300k @2.25%. Our investments and savings are worth $5M. Even if we lost our jobs the mortgage would not stress us.[/quote]
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