"invest in your own debt. Payoff any existing credit card debt, mortgages, etc. that carry interest rates higher than that which can be earned with absolute safety any other place."Regards,FMO ==========================================Hijacking a thought: FMO's comment reminded me of something that we have been considering of late... carrying back the paper when we sell our current residence...The $500,000 forgiveness of gain for couples filing jointly will just cover, with a little margin, our gain, so I don't believe we will owe a tax on the profit were we simply to sell for cash. But:My question is: Has anyone else carried back the paper when selling their residence? Do's and don'ts? Really big regrets? Etc? I assume we'd have a 'regular' collector receiving payments, sending out late notices if needed, etc... and getting a piece of the action for their trouble... I would guess we'd receive ~~5.5% right now, which is quite above anything out there that is really safe...And we could always make it a 30 year due in 7, or some such, "just in case we want it all sooner, etc"....I 'know' we'll have a slightly more involved return to file each year as we receive Installment Payments, as defined in IRS Topic 705. Etc.Thanks. BB.
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