Bear3412
DIS Veteran
- Joined
- Aug 12, 2011
.... Balance is the key.....
Well.... slighty leaning toward cruising.
.... Balance is the key.....
My goal wa to have our mortgage loan paid off by the time the kids went o college....so we could afford to pay for college. Not saying that is a plan for everyone....but we need to have a plan to eventually pay off that loan so you don't have to work till you are 70.
Not sure why you are writing this about my post. I did not suggest paying your mortgage off early!! I said it is debt and you should have a plan for paying it off. Life is short and I am all for living large but the reason so many people got upside down on their mortgage loan is because they refinance and take out the equity and then blow the money or buy a bigger house. My goal wa to have our mortgage loan paid off by the time the kids went o college....so we could afford to pay for college. Not saying that is a plan for everyone....but we need to have a plan to eventually pay off that loan so you don't have to work till you are 70.
Actually, you did tell me to pay my mortgage off early? Im not sure where you think you didn't. It was the last part of your post. "Pay off your mortgage/house and quit paying $5000 a year in interest". So, ya, you did tell me to pay it off.
Maybe where you come from, a lot of people put extra's on their mortgage. I know many many people who don't. The way I see it, while yes, these extra's (renovations/car/credit cards) are then rolled into the mortgage, but that is still debt.
My mortgage is just what it is. It is my home I am paying on. I have a great plan in paying it off. I have only 15 years left, because I have accelerated my payments.
And sure, I could work my tail off, be unhappy in life, not take time for myself or family, and get that mortgage paid off, so much sooner. But to what advantage? There really wouldn't be one. I have NO debt. I own a home. I pay for it, like I would rent. I am not living above my means. I will enjoy vacations, and spending that time with family and friends. In the end, that will matter more than paying off my home earlier.