How to Decide whether to pay off your Mortgage
August 13, 2015, The Wall Street Hournal, Ted Jenkin
One of the more difficult questions I get from both younger and older people alike is whether or not it is a good idea to pay off their mortgage.
With interest rates still hovering around all-time lows, many people are still in the process of refinancing the mortgage on their existing homes or buying a new one. If your interest rate is in the 3% to 4% range, you may be wondering if you should take your excess monthly discretionary income to pay down your home note faster. Or would it be a better idea to take that cash and invest it for the long term? This decision has both financial and emotional ramifications.
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