Financially this makes sense. But for me, I’m sitting in a house that’s paid off. If I lose my job (or have to quit for medical reasons) and I can’t get a new job, I’ve got shelter. I can live Indefinitely where I am right now just paying utilities and property tax. Granted there is the reality of things just break on houses and require $$$.
Maybe it isn’t the best strategy. But there’s a nice feeling to know that I’ll have my house even if something bad happens.
And by bad I mean less than societal collapse. All bets are off in that situation.
If you have the discipline to pay off a house you can easily create a stock portfolio. The only important advice is to stop staring at the charts for too long. If you are an investor you derive zero value from it. Your decision to sell should not be driven by the market. It should be driven by personal goals.
Totally agree. I was replying more about why I chose to pay off my house vs. sitting in a mortgage for X more years so that I can put more money into the market.
During the time I was paying off my house, I did put money into the market. I just prioritized money going towards the house. Now that the house is paid off, all that prior mortgage payment money is going into the market.
Maybe it isn’t the best strategy. But there’s a nice feeling to know that I’ll have my house even if something bad happens.
And by bad I mean less than societal collapse. All bets are off in that situation.