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Jan 20, 2020
5:57
:09
pm
cougaman
All-American
Yep. If you are paying enough state taxes/property taxes/interest then the
double tithing doesn't make much difference. If you are considering paying your home off, then that definitely changes things.
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cougaman
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cougaman
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Mar 11, 2006
Last login
May 11, 2024
Total posts
68,746 (4,481 FO)
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Messages
Author
Time
What’s CB collective thoughts on paying off your home early?
SlantRoute
1/20/20 3:12pm
I'd buy rental real estate but I get your mindset.
mulletino
1/20/20 3:13pm
Nothing feels so liberating as owning your home outright. I would not take
Ycrazy
1/20/20 3:15pm
315k invested in the stock market will make more than paying off your home.
Baron
1/20/20 3:15pm
Assume I have zero knowledge on the stock market...
SlantRoute
1/20/20 3:17pm
You actually might be better off. Low cost index funds all the way.
JJCoug
1/20/20 3:21pm
No it doesn't. Get an advisor with vanguard or fidelity or a simple target date retirement fund.
Baron
1/20/20 3:22pm
You could just buy an index fund and forget about it. Don't have to know anythin
Triznaynay
1/20/20 3:22pm
This. Cash flow now vs earnings.
Grit for Brains
1/20/20 3:18pm
Or not. Timing is everything. Buy low sell high .. absolutely
Big Daddy D
1/20/20 3:26pm
As a low risk individual I think you’re fine to pay it off. If you
bluecougar1985
1/20/20 3:16pm
What are the long term options?
SlantRoute
1/20/20 3:18pm
Things mentioned in thread. Real estate, stock market, even several low risk
bluecougar1985
1/20/20 3:22pm
We did it and I like the feeling of being debt free. Am I going to regret
N8Dawg
1/20/20 3:18pm
Pay it off. If you don’t like it, you can go get another mortgage.
ovalY
1/20/20 3:41pm
Do you itemize or take the standard deduction?
cougarfann888
1/20/20 3:18pm
I itemize.
SlantRoute
1/20/20 3:20pm
Remember that if you no longer have your home interest, you may fall below the
cougaman
1/20/20 3:35pm
Especially if you double pay tithing.
Acorn
1/20/20 5:47pm
Yep. If you are paying enough state taxes/property taxes/interest then the
cougaman
1/20/20 5:57pm
Here is how I would look at it....
whiteninja
1/20/20 3:23pm
We've been paying ours down like crazy and will be done next December.
O Gaucho
1/20/20 3:24pm
We did it... fully realizing it was not the most prudent decision purely from an
BoiseBlueCoug
1/20/20 3:25pm
If you can . . .
2FarGone
1/20/20 3:27pm
I paid mine off 15 years ago.
tevye
1/20/20 3:29pm
I don't pay down my mortgage because I don't care much about things. And my
JAGA97
1/20/20 3:33pm
If you can, do it in a heartbeat, even if it doesn’t make financial sense.
UNLVcougar
1/20/20 3:35pm
You will never get back the 8%+ annual averaged returns on that $300k if you
Ash
1/20/20 3:35pm
What safely and predictably yields 8+% these days?
SlantRoute
1/20/20 3:51pm
Nothing safely returns at that yield. But VOO or any index fund that tracks
Ash
1/20/20 5:22pm
Split the middle...pay down to about $100k left on the mortgage, invest the...
CougaReb
1/20/20 3:45pm
For the people who say you should not pay off early because you get better returns investing that money, do you
slappy
1/20/20 3:53pm
Make minimum monthly payments on interest rate barely above inflation. Make enormous returns elsewhere.
mulletino
1/20/20 3:56pm
I'm a wimp when it comes to these things. I know it would make sense, but I just don't have the guts
slappy
1/20/20 4:02pm
Not a bad thing.
mulletino
1/20/20 4:06pm
That’s because you are feeling the risk element missing from all interest rate
ovalY
1/20/20 4:29pm
I built my home in 2001...
CoachSpeak
1/20/20 4:22pm
I love this quote from Pres. Hinckley about James E. Faust.
O Gaucho
1/20/20 4:32pm
That is exactly why I posted what I posted above. That talk from Pres. Hinckely
UNLVcougar
1/20/20 4:47pm
Here's another "ears to hear" quote by President Eyring
Doozy
1/20/20 4:50pm
Except that if my liquid investments exceed the remaining loan balance my
Ash
1/20/20 5:26pm
Unless it is in cash, there is risk the investment would fall below the balance
ovalY
1/20/20 5:31pm
How is that different than if your primary home value falls below the original
JAGA97
1/20/20 6:37pm
If the value falls after paying it off you still don’t have a mrtgage.
ovalY
1/20/20 6:49pm
But we are talking about financially prudent people here who have ways of
JAGA97
1/20/20 7:29pm
Do what you like. Everybody tolerates risk differently. G
ovalY
1/20/20 7:46pm
I have chosen to leverage my money via passive multifamily investments.
CougarThug
1/20/20 5:10pm
Nothing wrong with splitting the difference and saving some money
KSwiss
1/20/20 7:26pm
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