This is an age old question, “Should I Pay Off My House?”
Some advisers say “no” – you need the tax write-off of the interest. Or maybe your rate is low so it would be wiser, instead of using extra money for paying down the mortgage, that you invest it in the market or put it in some other investment vehicle.
One of the best quotes I have ever heard on the subject is,
Do you know what people recommend that you don’t pay your house off? Those who have never paid theirs off.
I have always thought that paying off a debt is the best thing if you have the means and have a plan. Sometimes it’s not so direct. Here is a great article about that question. My financial planner and I took this subject and analyzed it from a financial and an emotional standpoint.
Action Step for You: Evaluate and plan your house payment strategy.
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