If you locked in a rate at 2.99% why would you want to pay that down quicker?

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Mar 25, 2020
2:37:59pm

memento All-American

If you locked in a rate at 2.99% why would you want to pay that down quicker?

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memento

Bio page: memento
Joined: Nov 26, 2010
Last login: Apr 29, 2024
Total posts: 5,592 (374 FO)

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Messages

Author

Time

Has the market crash over the past couple weeks changed your mind about

Odysseus

3/25/20 2:20pm

It has been a huge blessing to be debt fee (except a mortgage) for the past 10 years.

3/25/20 2:23pm

<< Deleted >>

Abe Froman

3/25/20 2:24pm

If you locked in a rate at 2.99% why would you want to pay that down quicker?

memento

3/25/20 2:37pm

<< Deleted >>

Abe Froman

3/25/20 2:40pm

I agree with this. Yes, you could invest and maybe make more, but being

Breaded Hamster

3/25/20 2:42pm

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Abe Froman

3/25/20 2:43pm

Of course not, as long as your overall asset allocation

memento

3/25/20 2:50pm

If you take out a lot of debt just before the banks fail, it could work out well

3/25/20 2:25pm

Pay down debt

Swish

3/25/20 2:25pm

how do you pay down debt with food storage?

cougarnerd

3/25/20 2:29pm

Edited it sorry that didn’t make sense.

Swish

3/25/20 2:54pm

Not at all.

lagryffe

3/25/20 2:25pm

That seems optimistic even in good times.

crack

3/25/20 2:27pm

Maybe. But the bottom of 2009 took us to >100% returns over 5 years

lagryffe

3/25/20 2:42pm

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Abe Froman

3/25/20 3:09pm

Let's just say I did really well the last time around and have been waiting

lagryffe

3/25/20 3:15pm

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Abe Froman

3/25/20 3:24pm

Nor am I. I've sold nothing and have ridden this thing down.

lagryffe

3/25/20 3:29pm

RE: On paper, sure, but how many timed the bottom perfectly?

memento

3/25/20 3:17pm

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Abe Froman

3/25/20 3:23pm

Don't think you understood the premise of the article...

memento

3/25/20 3:32pm

Maybe, maybe not- I think there are definitely different levels of risk aversion

Breaded Hamster

3/25/20 3:43pm

Not sure why but I feel the exact same.

chitownboy

3/25/20 2:38pm

Except for mortgage I agree, investment money

BYU71

3/25/20 2:27pm

If your premise was markets never crash when you started to invest

memento

3/25/20 2:37pm

It has strengthened my resolve that investing right now is preferable to paying down debt.

Pimpin4Paradise

3/25/20 2:40pm

I always looked at paying off debt as reducing risk.

CosmoK

3/25/20 2:42pm

And now you know why those of us who have been through the big crises in early 70s, early 80s, 2001, 2007-8, etc

Zenoch

3/25/20 2:46pm

May be a boomer but you are boomer who can sleep at night. I agree with your

Ycrazy

3/25/20 3:30pm

One other thing to consider is the tax benefit of mortgage interest

lagryffe

3/25/20 3:40pm

Pay down all debt except home mortgage

Gente_Boa

3/25/20 5:54pm

We paid off our house about 3 weeks ago. It may not be for everyone, but it

crack

3/25/20 6:09pm

I will continue to put any extra I make into paying off the only debt we have

3/25/20 6:27pm

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