Re: How to be Setup for Life ?
Because any pre payments on a fixed note are applied to the back end of the note and do not better your situation today. What you are doing is using todays dollars to pay a debt not due for 5,10,15 maybe 20 years out when the inflation adjusted buying power of that same money will be considerably less. Even at savings account interest you are doing better than pre paying monthly. Either you earn the interest or give the money to the bank for them to profit on.
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