You can't guarantee interest rate income over many years to come. And the longer you wait to pay off the bond the more interest you pay.
I paid mine off and don't worry about it and reduced my long term debt. When I sell my house the $20K will be recoverable in my $1M home.
A paid off bond is just another selling point for your home that you will need if you want to get top dollar when the time comes.
And thanks Don for the accurate explanation!
Last edited by jrref; 12-03-2023 at 09:52 AM.
|