Author Topic: Any "don't pay off your mortgage" people change their minds?  (Read 32304 times)

waltworks

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Re: Any "don't pay off your mortgage" people change their minds?
« Reply #350 on: September 03, 2020, 12:25:24 PM »
Anyone with $500k cash sitting around with nothing to do with it probably isn't on a journey to FIRE board. Why don't we both just stop with trying to win and agree to disagree? Cheers.

I think you need to spend a little more time here... $500k in investments is very, very common here. It might even be on the low end.

-W

frugalnacho

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Re: Any "don't pay off your mortgage" people change their minds?
« Reply #351 on: September 03, 2020, 12:44:17 PM »
I just hit $750k in total assets, and $500k in investments.

I was in a scenario in 2017 where I had enough cash on hand to pay my mortgage off.  I chose to pay it off instead of invest it.  Was it the right decision mathematically? Perhaps.  Perhaps not.  Time will tell, but my personal situation was atypical and it's probably much closer to a wash than your typical scenario.  I'm in the hold-your-mortgage camp despite having paid mine off due to my unique circumstances. 

Bucksandreds

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Re: Any "don't pay off your mortgage" people change their minds?
« Reply #352 on: September 03, 2020, 12:45:58 PM »
Anyone with $500k cash sitting around with nothing to do with it probably isn't on a journey to FIRE board. Why don't we both just stop with trying to win and agree to disagree? Cheers.

I think you need to spend a little more time here... $500k in investments is very, very common here. It might even be on the low end.

-W

You’re making straw man arguments. I just said $500k cash sitting around and you argued about $500k in investments. Me thinks this is over. You don’t argue honestly.

arebelspy

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Re: Any "don't pay off your mortgage" people change their minds?
« Reply #353 on: September 04, 2020, 08:33:36 PM »
MOD NOTE: Locking topic. Should be obvious why. Please argue constructively. Cheers!
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