These are from Cash Money Life and I found quite a few to be interesting. There is always a question of whether or not to pay off or pay down debt. I think that like most things in life you have to go with what feels right and what helps you to sleep at night.
While money is all about the math - sometimes it isn't. Currently, my only debt is my mortgage. I think that given my salary, my earning potential (i.e. if I leave my job I will most likely be able to earn the same at another company in the same field of course), and the monthly payment - my overall mortgage is acceptable. Except it's not. To me it's a crazy large number. Yes if I focus on the fact that the actual monthly payment is affordable I can *somewhat* manage to lower my blood pressure. Knowing that I bought this place more as an investment and it is a good investment also helps. Even so, I want it paid off - tax deductions be damned!
Why I still have debt and don't plan to retire early
It's logical but we all need to be really careful when we start focusing on "I can afford the monthly payments" especially when that logic is used to justify mortgage, car, student, and credit card loans.... For some the tipping point is reached very quickly.
Five reasons to not pay off your mortgage
Ensuring I have liquidity is one of the reasons for this blog. I was previously focused so much on paying down my mortgage that I got to a point where I got scared because it's not like I can quickly sell my home and that is where all the money is! Having money in savings and in the market will help me feel much more balanced.
Are you investng in assets or stuff?
Let's all raise a hand for assets!
Pru
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Positive comments are always welcome. Negative comments will be deleted. Selling something - ain't gonna happen. I'm not a financial adviser and you're probably not either. Careful what you recommend.