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The Water Cooler
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Let's talk personal debt
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<blockquote data-quote="Old Timer" data-source="post: 2019952" data-attributes="member: 24440"><p>Plan A for sure.</p><p>Then you can use that $1,000 house payment to help finance your retirement.</p><p></p><p>If you use plan B,</p><p>The interest you earn, you have to pay taxes on it.</p><p>The interest you pay, you might get 20% back on your taxes.</p><p>It would be very unlikely you could make more money then your </p><p>mortgage interest unless you enter a high risk investment, </p><p>and we all know how those turn out a lot of the time.</p><p>That is why they are called high risk.</p><p></p><p>And there is no way to describe the feeling when you pay off a loan!</p><p>I was crazy (stupid) enough to build a new house, and get a new mortgage.</p></blockquote><p></p>
[QUOTE="Old Timer, post: 2019952, member: 24440"] Plan A for sure. Then you can use that $1,000 house payment to help finance your retirement. If you use plan B, The interest you earn, you have to pay taxes on it. The interest you pay, you might get 20% back on your taxes. It would be very unlikely you could make more money then your mortgage interest unless you enter a high risk investment, and we all know how those turn out a lot of the time. That is why they are called high risk. And there is no way to describe the feeling when you pay off a loan! I was crazy (stupid) enough to build a new house, and get a new mortgage. [/QUOTE]
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