Rambler
Thinks s/he gets paid by the post
- Joined
- Jul 15, 2007
- Messages
- 2,487
It all comes down to personal comfort with risk. If you are comfortable that the money you owe makes more than it costs you, then it makes financial sense to keep the mortgage. Comfortable is the key word.
As for me, I have no pension, mainly after tax investments. They do “currently” make more than a house payment would cost me. But there have been times otherwise as well. I paid off my house in my mid 30s and the DW and I decided to never have a mortgage again on our main home. If we were to ever consider a vacation home, we might consider a mortgage, but not the main home. For us, its just a “comfort” thing.
As for me, I have no pension, mainly after tax investments. They do “currently” make more than a house payment would cost me. But there have been times otherwise as well. I paid off my house in my mid 30s and the DW and I decided to never have a mortgage again on our main home. If we were to ever consider a vacation home, we might consider a mortgage, but not the main home. For us, its just a “comfort” thing.