Bigritchie
Recycles dryer sheets
- Joined
- Jun 13, 2007
- Messages
- 377
Now that is exactly the type of statement that puzzles me, the 'gives me alot of extra cash per month' part. I don't see it.
If you had taken those pre-payments, and put them in an investment, that investment could be paying off cash. Maybe a little more or a little less, depending on all the variables previously mentioned. It could be in your emergency fund, meaning more of your other investments could be allocated to longer term (hopefully higher return) areas.
But how can it be 'a lot more'? Seems you can only say that if you totally ignore the other side of the equation, which is not a prudent thing to do, IMO.
Just to be clear - it's fine with me if you say you 'feel better' about not having a mortgage, or that it simplifies things for you, or that you did the math and it looked to provide some after-tax benefit, or you just wanted to do it. It's the 'a lot of extra cash' that I really question.
-ERD50
By extra cash I mean I have an extra 900 dollars per month cash flow, that I would not have if I had a mortgage. And I despise being in debt. Debt to me is slavery.