tag:blogger.com,1999:blog-32639162.post85476630615407756..comments2023-12-07T01:00:56.264-05:00Comments on My Wealth Builder: Saying Bye Bye to our MortgageSuper Saverhttp://www.blogger.com/profile/11172939501208456194noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-32639162.post-42994070413079553842009-05-19T14:12:00.000-04:002009-05-19T14:12:00.000-04:00When you are investing your own money in the stock...When you are investing your own money in the stock market then the risk to reward ratio makes sense. If you still have your mortgage then you have more risk and less reward all of a sudden it doesn't seem to make sense. <br /><br />Glad you are back on track.Michael @ The Life Insurance Insiderhttp://gardenstatelifeinsurance.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-32639162.post-73549226821526242552009-05-19T10:15:00.000-04:002009-05-19T10:15:00.000-04:00I don't disagree that paying off your mortgage is ...I don't disagree that paying off your mortgage is a good thing, it is. However, I would say that right now is the worst time to make such a choice. The stock market has most likely already taken most of the plunge. I am assuming that like most people, most of your investments have been hit hard by the downturn. If this is the case, you would be selling at lows, and really at this point, the stock market should see some gains over the next few years. Also, mortgage rates are at their lowest, so there is no real incentive to pay them off right now, when higher gains should be attainable in the stock market. In your case, your mortgage rate is fairly high at 5.375%, so I would be looking at ways out of that mortgage, and in to something cheaper with todays great rates you should be well below 4%. I think a long term mortgage like you have is the worst thing anyone can do, as you always pay a hefty premium for that safety. Over the last 10 years if you had gone shorter term, or even variable you would never have come close to 5.375% on average.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32639162.post-21302095762380965492009-05-18T11:57:00.000-04:002009-05-18T11:57:00.000-04:00Good choice, if you plan to stay in the house forv...Good choice, if you plan to stay in the house forver, get rid of the mortage debt- consider you have all other factors in placeL. Marie Josephhttps://www.blogger.com/profile/08742625250214975088noreply@blogger.com