>I am retired (for the most part) and continue to carry >a $500,000 mortgage at 7%. Why on earth would I take $500,000 >earning 15% to >20% to pay off a 7% debt?I could not agree with this more. I pondered this for a while and my wife and I came to the same conclusion. If you need a psychological crutch, then take the money you would have paid the house down with and put it in a Etrade or Ameritrade "house account" stock account and purchase long term buy-n-hold stocks with it. You would be surprise how quickly this will grow. If you want, in 10 years, you can pay off the mortage out of the growth of this account. However it would still be nice to have a write off available.
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