Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 05-31-2012, 09:37 AM   #21
ziggy29's Avatar
Join Date: Oct 2005
Location: Texas
Posts: 15,624
Getting rid of a 6.5% mortgage in the era of the Fed's long-term War on Savers and pathetic yields on capital is definitely the right thing to do. Some might argue whether it was better to pay it off or to refinance (not that the "pay off debt or invest" question ever comes up here), but I don't think folks in either "camp" would suggest you should have kept that loan when you had the ability to get rid of it one way or another. Tax consequences aside, where else would you achieve the equivalent of a safe 6.5% return with your money? I don't see anywhere.

"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-31-2012, 10:03 AM   #22
Moderator Emeritus
Join Date: Oct 2007
Posts: 4,929
Originally Posted by ziggy29
in the era of the Fed's long-term War on Savers
I always get a chuckle out of that phrase. Mostly because I remember just how good things were for savers back when 10 year Treasuries were yielding 10% or better...

Given the fiddling small differential between savings rates and mortgage rates, I'd go with whatever path gives me the most peace of mind. No mortgage here...

M Paquette is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


All times are GMT -6. The time now is 09:47 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.