Comments on: The Mortgage Dance of Money

By: Don't Pay Off Your Mortgage Until You Retire | Financial Samurai

Don't Pay Off Your Mortgage Until You Retire | Financial Samurai — Fri, 25 Mar 2011 09:01:21 +0000

[...] Admittedly, there was also an irrational fear that I would be a 40 year old renter if I kept at my pace. There’s nothing wrong per say in being a 40 year old renter, just like there’s nothing wrong with being a 40 year old virgin. But, regardless, I didn’t feel like shelling out month after month of hard earned cash to help someone else pay off their mortgage. [...]

By: BostonToDC

BostonToDC — Fri, 02 Jul 2010 14:47:59 +0000

I originally went to college in Newport Rhode Island and lived in the mansion
(converted into dorm rooms) next to the Breakers. My room was called the
“round room” which was in the tower. I loved Newport RI very much, such a
beautiful area. If you like the Breakers there are tonnes of other mansions in that
area all along Bellview Ave.

By: admin

admin — Thu, 01 Jul 2010 04:59:22 +0000

It’s the darndest thing ain’t it? Part of the reason why I went and bought a peace of property was b/c I actually wanted to have more of a purpose to work and save many years ago. The rental prop now has kept me honest in my spending habits, and I’m thankful for it.

By: Money Reasons

Money Reasons — Thu, 01 Jul 2010 00:46:07 +0000

Yeah, I regret having to admit that since I’m debt-free now, lifestyle inflation has been knocking at my door. I’m resisting it as much as possible, but the summers out here are short and my kids are growing up so fast…

Surprisingly, my family is what’s keeping us in our current house. It’s a good house and neighborhood overall, so it hard to leave friends and move to a bigger house.

I agree with the taxes, but then again I believe 40% of the population doesn’t pay any income tax? I’m sure if the government did raise taxes across the board as you suggested, a year or less later, the present goverment would increase the child credit or introduce some other credit so that just the rich pay taxes again… I’m not rich or a high income earner, and even I see that it’s not fair (or maybe I’ve been reading Evan’s site too much!)…

By: Geek

Geek — Wed, 30 Jun 2010 18:06:32 +0000

So you don’t have to pay interest on the principle if you have an emergency savings account, basically? I don’t think we’d ever have something like that in the US.
When you take it out, do you have to pay the back interest, since it’s as if you never paid the principle in the first place? That’s all that would make sense to me…
I could see investors in banks not liking this as well….

By: Geek

Geek — Wed, 30 Jun 2010 03:56:26 +0000

I’m kind of attempting to buy, and avoiding my ‘half’ of the fees (though the seller pays all). You’d be surprised – some brokers don’t tell their sellers that they could just pay 3% when there’s no buying agent.

Cupcakes are great, but I’m on team Pie.

By: admin

admin — Wed, 30 Jun 2010 03:01:19 +0000

I agree on being able to take chances, more chances, which may or may not pay off in the future. Hard to take chances if we’re bogged down by a lot of debt!

By: admin

admin — Wed, 30 Jun 2010 02:18:06 +0000

If your debt costs only 3% and you only have 23K left, why bother indeed. You only bother if the spread is wide enough over savings like I’ve written, and if your debt is annoying you enough to pay it off.

Inflation is a BEAUTIFUL thing for debtors!