I know in the personal finance space there are many different opinions and advice flying from every direction. What do you think?
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8 Comments
Jay @motivated_jay · 17d
I think so. Getting rid of that principal and interest payment changes everything. Once the bank is out of the picture, your baseline living expenses drop drastically. Having that absolute certainty and owning your roof free and clear is a level of security that a math equation simply can't capture.
marco @marcouch · 16d
ABSOLUTELY NEVER pay off your home entirely. Title theft/fraud is the largest reason and people doing it know how to do it well. You don’t have to leverage yourself to the gills, but always keep something small on it. It keeps the banks on title and your title insurance company in effect. Take the money, invest it and pay the minimal interest compared to your investment’s ability to generate more.
Thang N@thestockman35 · 17d
Really, it just depends on the interest rate of the loan, the return on your investment, and your life situation. Whichever is higher, I'll do that.
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