No. of Recommendations: 3
I only have one nit to pick with Rayvt's comments: the mortgage.

I consider keeping your home fully mortgaged to be an advanced financial strategy. While it can increase the returns of a good investor, it can also clobber people who aren't good at investing and saving.

I generally prefer a more conservative approach of starting with the goal of paying off your mortgage about the time you retire. As your plan progress, if you see that you are better than average at saving and investing, you can always switch horses and keep your home fully mortgaged.

However, if you turn out to be less skilled at investing while keeping a large mortgage on your home, it's almost impossible to switch to a plan of paying that mortgage off before retirement.

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