No. of Recommendations: 2
I'm sure others here are much wiser financial planners, but just my 2 cents..and of course, EVERYONE's situation is different.

I think about this all the time. My home has done well, and tons of post-soft market equity is still there. Many times I'm tempted to borrow against it for investments, expanding my current businesses, etc etc etc.

But I've decided to leave the house seperate meaning, my last resort. Luckily my business have done well over the years but if that's ever not the case...and I literally don't have a pot to pee in, then I'll tape the equity. Until then, I pretend it doesn't exist.

Also..while I could, I would not pay off my home early, or even extra per month. It's at a low rate...5.75%. Today, I'm not able to borrow money with a 30 year term for only 5.75%! So if I have a Line of Credit @ 8% for some business deal I did, I'd rather pay that off 1st. off the HIGHEST interest costs 1st. and with the mortgage deduction, Uncle Sam pays a part of it anyway. I'm content to let the mortgage ride into the sunset.

Best of luck.


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