Paying off the mortgage because debt free feels good

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Papers of Indenture
Posts: 197
Joined: Sun Sep 01, 2013 11:40 am
Location: Baltimore, Maryland

Re: Paying off the mortgage because debt free feels good

Post by Papers of Indenture »

I'm planning on doing the same.

Dragline
Posts: 4436
Joined: Wed Aug 24, 2011 1:50 am

Re: Paying off the mortgage because debt free feels good

Post by Dragline »

It certainly would be a good diversification move at this stage if you had been riding the bull market but are worried about getting bucked off.

ThisDinosaur
Posts: 997
Joined: Fri Jul 17, 2015 9:31 am

Re: Paying off the mortgage because debt free feels good

Post by ThisDinosaur »

I do both. Half my savings goes to stocks and the other half to mortgage and student loans. It doesn't make sense to buy bonds with a lower interest rate than my debt, but I'd also hate to miss out on any irrational exuberance.

thrifty++
Posts: 1171
Joined: Sat May 23, 2015 3:46 pm

Re: Paying off the mortgage because debt free feels good

Post by thrifty++ »

In a sense though having zero debt might give you the freedom to take higher risk actions which have a higher potential reward. Eg high risk stocks, starting higher risk business strategies, taking up new career options which you would have otherwise not have undertaken etc.

Jason

Re: Paying off the mortgage because debt free feels good

Post by Jason »

For someone my age, my net worth is weighted towards securities as opposed to house, so I've been very aggressive recently.

I understand rationally the rent vs. buy vs. payoff enchilada, but I want to be done with it.

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