Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#16
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Tax advantage? is your tax bracket over 100%?
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"All that is necessary for the triumph of evil is that good men do nothing" Edmund Burke 1729-1797 |
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#17
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There is no right or wrong and peace of mind is a relative state, per individual.
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#18
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With the recent past performance of the stock market, i would not recommend investing the cash instead of paying off the mortgage. You could loose the ability to pay off your mortgage if the market crashes again as it did in 2008. Investing the money would be good only if you can still afford the mortgage payment without the investment income. Very risky to play with the house money at this stage of our lives. Remember, past performance is no guarantee of future performance. I would keep the mortgage if I were 25 years younger.
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#19
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Yepper
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I agree!!!...............take any five year period over the last thirty years and the stock market return have been more than twice the cost of mortgage money. |
#20
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Any 5 yr period ? Hmmmmmmmm
__________________
"All that is necessary for the triumph of evil is that good men do nothing" Edmund Burke 1729-1797 |
#21
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:-)
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#22
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Maybe I should have said for the mortgage interest payment tax write off advantage. And to answer your question, no my tax bracket is a smidge under 100%
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#23
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Mortgage interest on one's personal residence or a second home is normally only deductible as an itemized deduction and is therefore deductible to whatever degree with various limitations such as a million dollar loan limit on a purchase mortgage and $100K on a home equity loan. The Pease limitation, AMT and other issues such as whether or not one receives income on tax exempt municipal bonds may enter the picture. One might wish to consult their CPA or tax attorney to determine whether such conditions may apply.
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"No one is more hated than he who speaks the truth." Plato “To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine |
#24
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Quote:
Is my logic flawed?
__________________
"All that is necessary for the triumph of evil is that good men do nothing" Edmund Burke 1729-1797 |
Closed Thread |
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