I have decided to pay my mortgage off early. There. I said it. I wrote it down. After having several at-home discussions, I have finally become comfortable with the idea. Thankfully over the past few years at my job I have been very fortunate and this has translated into a significant amount of disposable income that can be funneled into prepayments on the mortgage. Explaining why this is a good idea has been done in many other places like FiveCentNickel and I know that there are not really any huge advantages to be gained from making the right call for me in either direction. Here's how I think about it. At my current mortgage rate of 5%, and assuming a steady return in the Stock Market of 7%, I am losing about 2% yearly by prepaying my mortgage. That is the simple math and for each 100K of mortgage, this is 2000 dollars. It is certainly not a small sum, but it is a finite sum. Here's the problem with the "keep the mortgage" argument in my view. Of course you c
small steps toward making myself a better, richer, and happier man.