Re: Pay Off The Mortgage ?
Originally Posted by
nnuut
Depends how much interest you pay a year, with the low interest rates now that amount may or may not be worth it depending on your balance. When I paid mine off it wasn't worth it.
Birch,
Nnuut is right...for me, after just doing a re-fi in January to a 3.25% rate, the mortgage deduction "benefit" has gone away.
For now, I've decided just to keep the mortgage, and pay extra on the principal, as many have suggested. This keeps me from taking a big tax hit, allows me some flexibility, month-to-month, on how much extra principal I pay, and keeps my retirement pot working for me, rather than being tied up in a non-liquid investment.
Thanks for all the comments and opinions !
Stoplight...
"Too old to rock and roll...too young to die"... - I. Anderson
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