Should You Pay Off Your Mortgage Before You Retire?

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Over the passed few months, I've watched what do invest slowly depleiting. Yes the market goes up and down, so I know it will come back. Having my house paid off is forever. It is money invested that cannot be taken away as long as I have insurance. It is an emotional high knowing that loans are paid off- highest interest first of course. Make a plan and stick to it, period. It is the panic that drives commodities. The feeling off security will help the American psyche. Pay it off!

Molly of WI 11:29AM June 22, 2008

Money is tied up in a house the same way it is tied up in a 401K or a CD. A house is an investment and as with most investments the value can rise and fall. While true that mortgage interest is tax deductible, that only means that you're not paying tax on the interest. You are still paying interest. If you pay off the mortgage, depending on your tax bracket, you are "losing" only 25% of the interest you pay as a tax deduction. You will have the other 75% to invest.

Darlene of FL 5:06PM June 21, 2008