Comments on: Should I Pay Off My Mortgage or Invest? http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/ Bible & Money Personal Finance Blog | Budget: Pay Off Debt: Give Thu, 09 Sep 2010 06:45:14 +0000 hourly 1 http://wordpress.org/?v=abc By: Craig http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/comment-page-1/#comment-7266 Craig Wed, 30 Jun 2010 20:55:10 +0000 http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/#comment-7266 @Roy The plan seems very good (not knowing a lot about your personal situation). However, the only thing I wonder about is the 'program'. I hope it is a proven way to earn returns on your investment not some seminar program. @Roy
The plan seems very good (not knowing a lot about your personal situation). However, the only thing I wonder about is the ‘program’. I hope it is a proven way to earn returns on your investment not some seminar program.

]]> By: ROY STROBEL http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/comment-page-1/#comment-7245 ROY STROBEL Wed, 30 Jun 2010 05:35:49 +0000 http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/#comment-7245 WHAT IS YOUR THOUGHTS ON US REFINANCING OUR HOUSE FOR $100,000.00, PAYING OFF THE CURRENT MORTGAGE OF $56,000.00 AND TAKING THE $44,000.00 THAT IS LEFT AND INVESTING IT IN A PROGRAM THAT WILL GIVE US MONEY FOR OUR RETIREMENT YEARS? WHAT IS YOUR THOUGHTS ON US REFINANCING OUR HOUSE FOR $100,000.00, PAYING OFF THE CURRENT MORTGAGE OF $56,000.00 AND TAKING THE $44,000.00 THAT IS LEFT AND INVESTING IT IN A PROGRAM THAT WILL GIVE US MONEY FOR OUR RETIREMENT YEARS?

]]> By: » Should I Pay Off My Home Mortgage Early Or Invest? http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/comment-page-1/#comment-6820 » Should I Pay Off My Home Mortgage Early Or Invest? Thu, 03 Jun 2010 14:35:44 +0000 http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/#comment-6820 [...] you talk about paying off your mortgage early there are a lot of pros and cons on both sides of the equation.    If I were to simply make a [...] [...] you talk about paying off your mortgage early there are a lot of pros and cons on both sides of the equation.    If I were to simply make a [...]

]]> By: Craig http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/comment-page-1/#comment-6721 Craig Thu, 27 May 2010 22:21:58 +0000 http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/#comment-6721 @Tim Great point. I think your right that if you've made the types of choices that lead you to a place to consider paying off the mortgage then you'll probably make a wise choice here. I think you make a good point about dollar cost averaging as you invest along the way. That certainly is an advantage. @Tim
Great point. I think your right that if you’ve made the types of choices that lead you to a place to consider paying off the mortgage then you’ll probably make a wise choice here. I think you make a good point about dollar cost averaging as you invest along the way. That certainly is an advantage.

]]> By: Tim http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/comment-page-1/#comment-6711 Tim Thu, 27 May 2010 13:51:01 +0000 http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/#comment-6711 If God leads you to pay off the mortgage, that is no problem at all. The money you were paying monthly toward the mortgage can now go into an invest account. That math works out quite well. Say you owed $150k on the home and you paid $1,000/mo with 25 years left to pay it off. In 25 years, the mortgage would have easily cost you $250k with finance charges. If the investment tanks, you still have to pay the mortgage. By paying off the mortgage now, you have the ability to invest that $1,000/mo with the added benefit of dollar cost averaging. Even with no interest accumulated, $1,000/mo over 25 years is $300k. But hey, anyone wise or blessed enough to be in that position, will be wise or blessed enough to invest in something that will provide compound interest over that 25 year period. So instead of $300k, they can very easily and conservatively have over $700k. Do you pay it off? Let God lead the way based on His plan and purpose for your life, as the original author said. If God leads you to pay off the mortgage, that is no problem at all. The money you were paying monthly toward the mortgage can now go into an invest account. That math works out quite well.

Say you owed $150k on the home and you paid $1,000/mo with 25 years left to pay it off. In 25 years, the mortgage would have easily cost you $250k with finance charges. If the investment tanks, you still have to pay the mortgage.

By paying off the mortgage now, you have the ability to invest that $1,000/mo with the added benefit of dollar cost averaging. Even with no interest accumulated, $1,000/mo over 25 years is $300k. But hey, anyone wise or blessed enough to be in that position, will be wise or blessed enough to invest in something that will provide compound interest over that 25 year period. So instead of $300k, they can very easily and conservatively have over $700k.

Do you pay it off? Let God lead the way based on His plan and purpose for your life, as the original author said.

]]> By: Craig http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/comment-page-1/#comment-6641 Craig Wed, 26 May 2010 02:51:38 +0000 http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/#comment-6641 @John Thanks for sharing your story. I've noticed a theme. Those who have paid off their mortgage do not regret the choice. Perhaps there is a lesson there for all of us ... @John
Thanks for sharing your story. I’ve noticed a theme. Those who have paid off their mortgage do not regret the choice. Perhaps there is a lesson there for all of us …

]]> By: John Gargotta http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/comment-page-1/#comment-6624 John Gargotta Tue, 25 May 2010 13:58:39 +0000 http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/#comment-6624 After much financial and emotional consideration I paid off my house. I owe nothing on credit cards or car loans, have ample liquid cash reserves and stocks, max out my Simple retirement plan. I am fortunate and blessed. My only concern is the thought, "a house is not a liquid investment". Your house should not be an investment....you need a place to live, not an asset that can be liquidated at a moments notice. The thought that my house is an ATM and whenever I want something I just borrow against my house is the very mindset that got us in all this trouble. How liquid is a stock that has lost 50% of its value...you probably won't want to sell that unless you absolutely have to. I am debt free and loving it! I know if something happens to me my family will be ok. After much financial and emotional consideration I paid off my house. I owe nothing on credit cards or car loans, have ample liquid cash reserves and stocks, max out my Simple retirement plan. I am fortunate and blessed.

My only concern is the thought, “a house is not a liquid investment”. Your house should not be an investment….you need a place to live, not an asset that can be liquidated at a moments notice. The thought that my house is an ATM and whenever I want something I just borrow against my house is the very mindset that got us in all this trouble.

How liquid is a stock that has lost 50% of its value…you probably won’t want to sell that unless you absolutely have to.

I am debt free and loving it! I know if something happens to me my family will be ok.

]]> By: Financial Advice for Graduates http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/comment-page-1/#comment-6249 Financial Advice for Graduates Thu, 13 May 2010 13:44:17 +0000 http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/#comment-6249 [...] a lifestyle of generous giving, then get out of debt, fully fund an emergency fund, and then invest or buy a house.  Purchase things based on when you are ready, not the [...] [...] a lifestyle of generous giving, then get out of debt, fully fund an emergency fund, and then invest or buy a house.  Purchase things based on when you are ready, not the [...]

]]> By: How Much Can I Afford To Pay For A House? http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/comment-page-1/#comment-2094 How Much Can I Afford To Pay For A House? Mon, 15 Feb 2010 16:13:34 +0000 http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/#comment-2094 [...] the emotional turmoil of wondering if I stretched a little too far.  For this reason, I’d rather pay off my mortgage instead of investing – even if it doesn’t make math sense.  Emotional peace should come before math [...] [...] the emotional turmoil of wondering if I stretched a little too far.  For this reason, I’d rather pay off my mortgage instead of investing – even if it doesn’t make math sense.  Emotional peace should come before math [...]

]]> By: Craig http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/comment-page-1/#comment-2086 Craig Mon, 15 Feb 2010 15:19:07 +0000 http://www.moneyhelpforchristians.com/should-i-pay-off-my-mortgage-or-invest/#comment-2086 @FinancialBondage I agree. This post does state that it assumes a person is saving money for retirement. From there, I think there is no wrong choice. @FinancialBondage
I agree. This post does state that it assumes a person is saving money for retirement. From there, I think there is no wrong choice.

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