Quote:
Originally Posted by LakeCleElum
I know of zero people that had the discipline to save the money that would have paid off their mortgage. I paid off my 2nd home at age 26, had a mortgage for 8 months at age 41 when I bought a bigger house in the country.
With the money most were spending on a mortgage, I paid cash when I built my cabin at the lake, paid cash when I build my retirement home (own all 3 now; mortgage free) and put over 400K in IRA and Investments by age 55.....Dunno if I could have done that AND retired at age 52 by paying a mortgage for 30 yrs???
|
Couldn't agree more. Half of a mortgage payment goes to interest. How is saving that not the best investment around? If you pay cash for your house that is money you are saving that can be spent on your next house or retirement fund.