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Message
re: Paying off a mortgage early vs Putting money into an IRA
Posted on 1/3/13 at 10:31 am to fishfighter
Posted on 1/3/13 at 10:31 am to fishfighter
This question gets asked a lot on a multitude of financial forums.You can figure out the financial benefits to both sides pretty easily. What you can't figure out with math is the feeling of security of having a paid off mortgage.
I'm self employed...I know it'd probably mean more to my retirement account if I was contributing extra there, but if something happens to me down the road I'd rather be debt free.
I'm self employed...I know it'd probably mean more to my retirement account if I was contributing extra there, but if something happens to me down the road I'd rather be debt free.
2
Posted on 1/3/13 at 10:40 am to Venelar
quote:
I know it'd probably mean more to my retirement account if I was contributing extra there, but if something happens to me down the road I'd rather be debt free.
I just don't understand this as it doesn't make any sense. Your money is still there, it didn't disappear, and actually had a greater earning potential.
Posted on 1/3/13 at 10:44 am to Venelar
quote:
if something happens to me down the road I'd rather be debt free.
there isn't a debtors prison.
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