Posted by rayrick on January 27, 1999 at 09:22:27:
I understand there’s a certain psychological lift that comes with being totally debt free, but I just don’t see the logic in paying off a mortgage that you’re paying under 9% interest on when you could be investing it in a tax free retirement vehicle at a higher rate of return. Compound interest is a beautiful thing, and tax free compound interest is even better. Every year counts when it comes to retirement investing. Waiting 5-7 years so that you can have no mortgage payments is NOT a good idea in my opinion.