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re: mortgages additional payments or lump sums?
Posted on 4/1/14 at 8:53 am to AndyJ
Posted on 4/1/14 at 8:53 am to AndyJ
quote:
If you become disabled or lose your job, will that money in the market do you much good? Not really.
Liquidity is actually one of the best arguments against aggressively paying down mortgage. If you become disabled and lose your job, it's a hell of a lot easier, quicker, & cheaper to get your money out of a market account than it is to get it out of your house.
1
Posted on 4/1/14 at 9:03 am to Cold Cous Cous
quote:
Liquidity is actually one of the best arguments against aggressively paying down mortgage. If you become disabled and lose your job, it's a hell of a lot easier, quicker, & cheaper to get your money out of a market account than it is to get it out of your house.
And the opposite is just as valid, mortgage payments are usually a family's largest expense, if you become disabled or lose your job and have no mortgage payment you don't need to draw as much investments. Life changing health events, forced retirement, kids going to college, these things seem to occur at the age when the average person would have a house paid off if they had been focused when they were young.
This post was edited on 4/1/14 at 9:07 am
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