My take is that cash and cash flow are (king) the real things to consider. Big amounts (home mortgage, boat, bond with low to reasonable interest rates are best left alone. I do pay off small amounts because I find them a annoying.
I am 75 yo and the rationale for my take is that once you payoff a larger amount, although you feel good being debt-free, the availability of that money is tied up in an illiquid asset and now gone and if you should suddenly have a need for the cash, we all know that the only times "they'll" lend you money is when you don't need it.
And that fact that I'll die before my mortgage is paid off is OK. Just sayin"
JMHO
|