Would like to get sincere opinions on paying off a mortgage early. I’ve paid basically half my mortgage and in a situation financially where I could pay the rest of the principal off in one lump payment if desired. Such a move would not affect any day-to-day finances, wouldn’t cut into retirement (which I max 401k etc already), and have no other debt outstanding.
I‘ve always taken the approach of investing money in stocks/mutual funds since historically there will be a greater rate of return in long run than interest paid on mortgage. That said, the emotional pull of having zero debt and freedom is alluring. Plus with the market being where it is/may be at, there could be opportunity to use cash that would typically go to mortgage payments and instead reinvest it and realize a good RoR to make up for what is used for mortgage payoff.
Any financial guys have thoughts/opinions on this, additional pros/cons?
I‘ve always taken the approach of investing money in stocks/mutual funds since historically there will be a greater rate of return in long run than interest paid on mortgage. That said, the emotional pull of having zero debt and freedom is alluring. Plus with the market being where it is/may be at, there could be opportunity to use cash that would typically go to mortgage payments and instead reinvest it and realize a good RoR to make up for what is used for mortgage payoff.
Any financial guys have thoughts/opinions on this, additional pros/cons?
