RockLife
Recycles dryer sheets
- Joined
- Feb 24, 2017
- Messages
- 93
We have been debt free for about a decade, I'm 60, DW is 55 and we RE'd 4 years ago.
We took a mortgage and bought a house yesterday. We'd sold our previous one about 4 years ago and traveled the Caribbean for 3+ years while renting. The portfolio continued to grow during the travels as we kept spending in check.
So here we were with the opportunity to buy our dream home, but I didn't like what it would do to my tax situation. I'd have to take taxable income on the money, and possibly push us over the ACA cliff. And pull big $s from the portfolio that's been paying for our retirement.
Then I saw the interest rates and the solution was simple. At 2.875% this is practically free money. Why would I ever pay off this mortgage? Well, there are certainly reasons, but I've never been so happy to be in debt before.
Comments?
We took a mortgage and bought a house yesterday. We'd sold our previous one about 4 years ago and traveled the Caribbean for 3+ years while renting. The portfolio continued to grow during the travels as we kept spending in check.
So here we were with the opportunity to buy our dream home, but I didn't like what it would do to my tax situation. I'd have to take taxable income on the money, and possibly push us over the ACA cliff. And pull big $s from the portfolio that's been paying for our retirement.
Then I saw the interest rates and the solution was simple. At 2.875% this is practically free money. Why would I ever pay off this mortgage? Well, there are certainly reasons, but I've never been so happy to be in debt before.
Comments?