Quote:
Originally Posted by JoMar
Agree, paying cash just doesn't make sense at this age (77). Plus it is unlikely a 30 year mortgage will be paid off. Paying cash for stuff at todays interest rates and investment return is giving money away.
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Depends on your investments.
We had to borrow against ours just to afford our house because of our particular circumstances. If we die together tomorrow, our "estate" won't owe anything to our investments (which are actually insurance policies with nice cash values), and it'll get a house that it owes nothing on. No debt collectors at the door of our next of kin demanding their payment.
We have nothing, but we also owe nothing. I personally feel this is the best option when you're older.