Ask the Dolans: Should I pay off my mortgage or invest for a higher return?
Filed under: Banks, Budgets, Real Estate, The Dolans, Investing
Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.
Dear Ken and Daria,
My wife and I have the money to pay off our mortgage. Should we pay it off or invest for a higher return?
-Richard
Thinking of re-financing your mortgage? Check out the Dolans' guide to negotiating the best mortgage for you.
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Reader Comments (Page 1 of 1)
8-01-2008 @ 4:08PM
Ronald Meier said...
PAY YOUR MORTGAGE
Reply
8-25-2008 @ 6:39PM
pete said...
no reason to pay it off, I paid mune off six years early, it is like getting a raise, banks give you bad advise they think you need a mortgage,,they are wrong
9-18-2008 @ 4:45AM
Phyllis said...
I've paid mine off and have been dancing ever since--the benefits:
1. faster savings because I no longer have that big outlay monthly.
2. an amazing sense of security and freedom - and no anxiety about changes in my earning power, or the personal impact of economic trends.
3. Dynamite equity and borrowing power.
4. An investment in yourself and your possession that can't fail!
Reply