View Single Post
billyboy billyboy is offline
Registered
 
billyboy's Avatar
 
Join Date: May 2004
Location: Central Coast California
Posts: 1,299
house payment

I see that several of you spoke of paying off your home mortgage. I am getting the golden handshake so to speak, very soon. I will have plenty to pay off my home and some left over.I would like to do this for the security since my income will probably take a dip for a while at least. It seems that financial advisers like stock brokers, tax preparers and insurance salesmen say that I should not do this since I'll loose the deduction. I say that since my income will certainly dip for a while that who cares about deductions, especially for money thrown away(interest). To me, piece of mind is worth plenty. I can afford to take a lesser paying job until something better comes along without sweating my house payment. Once I get rolling again and get back to my current income levels, then I can funnel the portion that was my house payment into income producing investments, but at least I'll have the choice then. Is this atotaly wrong way of thinking?
__________________
'68 911 2.2 "E" PMO Carbs, Electromotive Crankfire Ignition, Adjustable Spring Plates, turbo tie rods, Bilsteins, headers, MB911 muffler...
"The sea merely lies in wait for the innocent but it stalks the unwary."
Old 08-21-2005, 06:58 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #17 (permalink)