Re: Buying a house
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think about what you typed. then think about it some more. then think about what the stock market generally returns if you are long term investor. then think about what a typical mortgage interest rate is. then tell me again why paying your mortgage off early is smart?
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No need for the insulting tone, I understand all that. It's all about your risk tolerence level I guess. Debt = risk.
If my mortgage rate is 5%, and I can get 8-9% from mutual funds (Don't tell me about the 20% returns you got in the last week, i invest for the long term) The 3% extra I get for those few years is worth less to ME that the peace of mind and awesome cash flow I can get from living in a paid off home. YMMV.
I'm not talking about 15 years, I'm talking about paying it off in 7 or 8. That's the beauty of not buying "the biggest house you can possibly afford"
If your portfolio is so huge that the 3% extra over 8 years comes out to a huge amount, I see your point.
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