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re: When to pay off the mortgage

Posted on 9/20/22 at 7:07 pm to
Posted by tigersfan1989
Baton Rouge
Member since Oct 2018
1265 posts
Posted on 9/20/22 at 7:07 pm to
I sleep 8+ hours a night no problem with most nights not waking up once. I have a mortgage. I put over 40k / year in retirement and another 15k or so in additional investments. I don’t put a penny extra towards my mortgage. Both of our vehicles are paid for one is 10 years old and the other 6 years old. I don’t understand the concept of having a mortgage as stressful. I could pay it off within a year if I really wanted to but I’m keeping it for the next 25 years. I keep the money in investments to grow I don’t keep it locked up in house equity. My home value has no correlation to if I have a mortgage or not so why put extra money towards it when I can have my money compounding in the market.
This post was edited on 9/20/22 at 7:10 pm
Posted by lynxcat
Member since Jan 2008
24479 posts
Posted on 9/20/22 at 8:07 pm to
I don’t understand why having a mortgage creates stress.

And even once the mortgage is paid off, I’ll still have $15K+ in property taxes and insurance into perpetuity. The house is never “owned” outright.
Posted by Gorilla Ball
Member since Feb 2006
12000 posts
Posted on 9/23/22 at 7:45 am to
I agree - similar
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