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2. Yes, paying off the mortgage is an excellent investment, earning at least the amount of interest you're paying, and maybe more if your interest is not entirely tax deductible. Debt-free is a great feeling.
What should you do with a secret cash stash?
Have you considered announcing it to a bunch of strangers on the internet?
Homeowners insurance in Florida can be punishingly expensive due to hurricanes, so paying off a house makes a lot of sense since you could then drop the hurricane insurance.
What happens if it's ruined by a hurricane? It's not like it can be replaced from the pocket change like in case of an old jalopy....
I’m just not a big fan of paying down my primary mortgage @3.5%, when my investments are all paying large double digit returns. To each their own
Tenpoundbass saysPatrick says2. Yes, paying off the mortgage is an excellent investment, earning at least the amount of interest you're paying, and maybe more if your interest is not entirely tax deductible. Debt-free is a great feeling.
Yes I don't know how much your Mortgage is right now, but a nice chunk of change drastically changes things on the Interest you pay the principal you owe going forward on subsequent payments.
The end of 2014 the wife and I decided we were going to start knocking down our 30 year mortgage that originated in 2010.
We started throwing $2K to $3K every month on top of the mortgage payment due. It's amazing how much each payment knocks the interest owed down compared to if we didn't not pay it, from month to month. As of now we should be paid off in 2020, I wish we started in 2010 when w...
I’m just not a big fan of paying down my primary mortgage @3.5%, when my investments are all paying large double digit returns. To each their own
2. payoff another $5700K off mortgage.
3. other reasons...