Comments on: Early Mortgage Payoff…a Good Idea? http://wealthpilgrim.com/early-mortgage-payoff-a-good-idea/ WealthPilgrim.com -No Money Worries. No Matter What. Thu, 17 May 2012 13:25:41 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Kevin http://wealthpilgrim.com/early-mortgage-payoff-a-good-idea/#comment-38475 Kevin Mon, 07 May 2012 15:09:42 +0000 http://wealthpilgrim.com/?p=15852#comment-38475 Angie, thank you for your reply. "I also love the fact that it takes a lot of pressure off my husband to HAVE to earn big bucks in the future to support all of us." This is SOOOO TRUE. I'm glad you recognize it. Many wives do not understand the socioeconomic pressure on men. We are in our mid 40's and have now had no mortgage for a year. The emotional capital gained and pressure relief for not having to make a certain income each month indescribable. Someone may be able to demonstrate on pure face value the economic benefit of a 4.0% mortgage when real interest rates on relatively risk free investments go back to 5%, but it is no comparison when you count the emotional return, decreased stress, and so forth. There is far more going on here than a simple monetary calculation. Angie, thank you for your reply.

“I also love the fact that it takes a lot of pressure off my husband to HAVE to earn big bucks in the future to support all of us.”

This is SOOOO TRUE. I’m glad you recognize it. Many wives do not understand the socioeconomic pressure on men. We are in our mid 40′s and have now had no mortgage for a year. The emotional capital gained and pressure relief for not having to make a certain income each month indescribable.

Someone may be able to demonstrate on pure face value the economic benefit of a 4.0% mortgage when real interest rates on relatively risk free investments go back to 5%, but it is no comparison when you count the emotional return, decreased stress, and so forth.

There is far more going on here than a simple monetary calculation.

]]> By: none http://wealthpilgrim.com/early-mortgage-payoff-a-good-idea/#comment-38445 none Thu, 03 May 2012 23:12:45 +0000 http://wealthpilgrim.com/?p=15852#comment-38445 unless you cant pay the taxes unless you cant pay the taxes

]]> By: ann http://wealthpilgrim.com/early-mortgage-payoff-a-good-idea/#comment-38369 ann Thu, 26 Apr 2012 20:47:35 +0000 http://wealthpilgrim.com/?p=15852#comment-38369 I think what you are saying is right. I will hold off making other investments for awhile. Thank you I think what you are saying is right. I will hold off making other investments for awhile. Thank you

]]> By: Neal Frankle http://wealthpilgrim.com/early-mortgage-payoff-a-good-idea/#comment-38359 Neal Frankle Thu, 26 Apr 2012 06:13:50 +0000 http://wealthpilgrim.com/?p=15852#comment-38359 There are pros and cons. From a financial standpoint, you just have to be very careful of not getting in over your head. I agree that could be a wonderful time to accumulate real estate. But if you build it on debt and then have a problem with finding renters and/or you lose your job, the entire house could come crashing down on you. Does this make sense? There are pros and cons. From a financial standpoint, you just have to be very careful of not getting in over your head. I agree that could be a wonderful time to accumulate real estate. But if you build it on debt and then have a problem with finding renters and/or you lose your job, the entire house could come crashing down on you. Does this make sense?

]]> By: ann http://wealthpilgrim.com/early-mortgage-payoff-a-good-idea/#comment-38358 ann Thu, 26 Apr 2012 06:06:06 +0000 http://wealthpilgrim.com/?p=15852#comment-38358 oh I am sorry. I guess i didnt make myself clear. My question is should i make extra monthly payments to pay down my loan earlier or should i save this money to invest in another property or investment opportunities. Is there any thing wrong with just paying just the minimum ($300) each month for 30 years even if i can afford to pay down a lot more? oh I am sorry. I guess i didnt make myself clear. My question is should i make extra monthly payments to pay down my loan earlier or should i save this money to invest in another property or investment opportunities. Is there any thing wrong with just paying just the minimum ($300) each month for 30 years even if i can afford to pay down a lot more?

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