Anonymous
Post 02/06/2014 12:38     Subject: Is it completely stupid to pay off our mortgage?
Anonymous wrote:
Anonymous wrote:No, you should not pay down the mortgage. There are two key things for you to understand:

1. You're not just leaving a little bit of money on the table by not investing it. You are leaving huge sums. The compound returns on the investment over years are massive. I understand the idea of wanting to feel secure, but you're not paying a few hundred or a few thousand dollars for that security. You are paying hundreds of thousands or millions of dollars for that security.

2. There is no risk-free way to store your money. If you do not invest your money, you WILL lose most of it to inflation and other factors. You need to stop thinking about investment as taking on risk and not investing as playing it safe. You are exposing yourself to risk either way. Just face that reality and work to build your wealth.

A financial advisor should help you understand both of these concepts.


Sounds like a financial adviser/salesman talking.

There's money to be lost to inflation via investing in stock market also, see below, chart is from St.Louis Federal Reserve (FRED), commented by the blogger.



Hmmm....so maybe the stock market isn't what its cracked up to be after all....
Anonymous
Post 02/04/2014 13:05     Subject: Is it completely stupid to pay off our mortgage?
Anonymous wrote:No, you should not pay down the mortgage. There are two key things for you to understand:

1. You're not just leaving a little bit of money on the table by not investing it. You are leaving huge sums. The compound returns on the investment over years are massive. I understand the idea of wanting to feel secure, but you're not paying a few hundred or a few thousand dollars for that security. You are paying hundreds of thousands or millions of dollars for that security.

2. There is no risk-free way to store your money. If you do not invest your money, you WILL lose most of it to inflation and other factors. You need to stop thinking about investment as taking on risk and not investing as playing it safe. You are exposing yourself to risk either way. Just face that reality and work to build your wealth.

A financial advisor should help you understand both of these concepts.


Sounds like a financial adviser/salesman talking.

There's money to be lost to inflation via investing in stock market also, see below, chart is from St.Louis Federal Reserve (FRED), commented by the blogger.

Anonymous
Post 02/03/2014 17:30     Subject: Is it completely stupid to pay off our mortgage?

Paying off would be silly, not only because it's cheap cash at that interest rate but also because you'll NEVER eliminate your monthly payment. You can only turn PITI into TI.

Anonymous
Post 01/23/2014 18:32     Subject: Is it completely stupid to pay off our mortgage?
You definitely need a plan. What are you going to do after you pay off the house?

I agree Bogleheads is very helpful but you have to get very organized to post anything there.

I got this book out of the library even though we are 15 years away from retiring and thought many of the chapters were quite helpful (and straightforward).

http://www.amazon.com/Smartest-Retirement-Book-Youll-Ever/dp/0399536345

He has an investment book which probably is good too.
Anonymous
Post 01/22/2014 21:13     Subject: Re:Is it completely stupid to pay off our mortgage?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:We paid off our mortgage 5 years into a 15 year @ 3.25%. Best thing we ever did. Kept the same insurance. covers the same as when first purchased.



It's good to know that it's possible to keep your insurance.


You've been under the impression that everyone who owns his home outright lacks homeowner's insurance?


Well, there was one idiot on here who owns two rental properties and was bragging about how much he had saved by not having homeowners' insurance.