Wednesday, October 29, 2008

Whether to pay off the mortgage

You have some good financial answers listed here. 6% is a pretty cheap mortgage and not a bad position for a liability. But it does need to be considered with the rest of your financial plan.

Here's something else to consider. You said you WANTED to pay off some part of your mortgage. You may really want to do this but are concerned you might be making a mistake. No, it's not a bad idea. You wouldn't be doing anything "financially-wrong". If you will sleep easier and it will give you a greater piece of mind- pay down the mortgage.

For the record, I run a financial planning firm. So I guess I would have to respectfully disagree with the other comments about advisors never suggesting you pay down the mortgage.

Charles

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