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I just want to add that in my opinion there is nothing less risky than owning your own home. When I look at what I pay in interest each month for a mortgage and
by johnwatson11218 16y ago
I just want to add that in my opinion there is nothing less risky than owning your own home. When I look at what I pay in interest each month for a mortgage and think about how much cash I would need in safe government backed bonds to generate that much income it is a no brainer for me. I know it is unlikely but the government could default, or more likely inflation erodes the real gains over time.
After maxing out a 401K the rest of my money is going towards my mortgage.
- tricky 16y agosame here. the great advice above (or below) re: accounting for the standard deduction when calculating nominal tax savings for mortgage interest and the fact I received the tax form from my mortgage company yesterday showing how much I paid in 2010 (ouch!) I can't imagine any low risk vehicle out there that can compete with quickly paying off your house.