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URL:  http://boards.fool.com/quotdo-we-pay-it-off-or-keep-itquot-hi-am-23941302.aspx

Subject:  Re: Asset Allocation Date:  4/6/2006  10:17 PM
Author:  Matt1344 Number:  50961 of 75791

"Do we pay it off? Or keep it?"

HI AM,

Well, for me it was a no brainer... bought in Dec '82 and paid it off by Aug '92... Lived a "bit" below my means before it was the thing to do. I lived like too many folks up until then, pay check to paycheck... When I sent in the final payment it was like a weight lifted off my back. Now that's just the way it worked for me and I haven't had one moments regret ;-) I didn't need to upgrade my standard of living... bigger this, bigger that...

I bought this place when I was 41 and had just enough money to pay off $2K in CC debt to get an automatic approval on my VA loan. Raises went into the mortgage and what later became my 401K. Paid off my car loan and put that on the mortgage, but then back then the rate was 11% so I felt that was a good return on my money. I went to part time work in '97 and fully retired this January...

If I waited until I had a million I'd still be workin'. We don't know if we'll be able to do anything physically later on, or heck, if we'll even wake up tomorrow!

Regards, Ken http://photos.yahoo.com/lv2dance
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