Dianne Feinstein - Completely ridiculous.

[NPT]

Maybe. We still owe money on our mortgage (about 25% of the home's value). We could easily pay it off, but why? The interest rate is low, and leaving that money in more lucrative investments (well until the Russians invaded anyway, but too late now) seems like a better deal. Why take money out of something earning 8%-10% over the long haul to pay off something costing me 4%? A mortgage seems like cheap money. I mean, I'd not go out and get another one for fun, but I don't see the rush to pay it off.

I never said it was a good financial move. A few years ago I had a HELP line of credit at the credit union I use and they were only charging around 2% so I saw a CD that was paying 6% so I used some of that line of credit to buy the CD. If the interest on the loan went over 6% I planned on just paying it off but it never did.

 

[ribbont]

I couldn't wait to pay off our mortgage. Our financial guy told me I need to get another mortgage and put the money in the market (which he managed, of course). I told him my peace of mind was way more important that making more money, at that point in my life.

I have some in-laws whose dad sold a company (many Ft. Wayne people would recognize the company, so I won't name it her) and split the money with he and his kids getting equal shares. If was a large amount each - large.

One of the kids kept his job, invested the money, and is now very wealthy, living on a lake in northern Indiana, but still generally living what we would consider a simple lifestyle, considering his wealth. On the board of several companies, but retired and living the good life. He was the one considered not-so-smart by the rest of the family.

One invested in real estate and lost his ass in 2008. Still working and living in his father-in-law's house.

The third on built a McMansion, quit her job, her husband quit his job, and they generally lived like they were millionaires (which they were, but with no income other than their investments). They eventually had to move out, get jobs, and now live in a 3 BR ranch.

The last 2 were considered the 'smart' ones. Go figure.

Like you, I could afford about anything I want, but can't bring my self to pull the trigger on things like a sports car that I'd really like to have. It also pains me to pay for a nice vacation, but I find that easier to do than buy luxuries items. We made many attempts at a budget, but neither one of us were detailed enough to record and stick to it. We mainly acted as watchdogs on each other's spending. lol

I was the opposite of you. I refinanced my home in April 2020 and took all my equity out and bought about 20 - 25 stocks and ETF's. At 2.75%, I never want to pay off my house. Wish I could have done a 50 year mortgage!

 

[Hank Reardon]

I never said it was a good financial move. A few years ago I had a HELP line of credit at the credit union I use and they were only charging around 2% so I saw a CD that was paying 6% so I used some of that line of credit to buy the CD. If the interest on the loan went over 6% I planned on just paying it off but it never did.

Well, I doubt that paying off a mortgage would ever be a BAD financial move. And I certainly understand the appeal of not having a mortgage hanging over your head. We're probably 1 to 2 years from retirement, or at least from retirement from our current professions. We want to sell the house and buy a place in the Carolinas, near (walking distance) the ocean. I won't do another mortgage though. That one will be clear from the start, even if it doesn't make perfect financial sense. So yeah, I get it. Once the regular paychecks stop I don't want any debt.

BTW, CD's don't pay anywhere near 6% any longer. Maybe 1% today? My mom buys them when she's forced to do a w/d from her IRA. It's hardly better than leaving the cash in your nightstand.

 

[dbmhoosier]

Dave Ramsey says paying off your mortgage early is one of the best financial decisions you'll ever make. I believe him.

 

[iuwclurker]

Well, I doubt that paying off a mortgage would ever be a BAD financial move. And I certainly understand the appeal of not having a mortgage hanging over your head. We're probably 1 to 2 years from retirement, or at least from retirement from our current professions. We want to sell the house and buy a place in the Carolinas, near (walking distance) the ocean. I won't do another mortgage though. That one will be clear from the start, even if it doesn't make perfect financial sense. So yeah, I get it. Once the regular paychecks stop I don't want any debt.

BTW, CD's don't pay anywhere near 6% any longer. Maybe 1% today? My mom buys them when she's forced to do a w/d from her IRA. It's hardly better than leaving the cash in your nightstand.

With the interest payments generally top-heavy at the beginning of a mortgage, paying it off later on is like giving interest-free money to the bank.

 

[CO. Hoosier]

F

With the interest payments generally top-heavy at the beginning of a mortgage, paying it off later on is like giving interest-free money to the bank.

my mortgage is 2.5% and IBonds pay 7% while Bidenflation is also 7%. .Why should I pay -0ff the mortgage?

Edit: 7% is for the bonds I bought last year. The bonds I have had for 20 years are now over 10%.

 

[UncleMark]

Dave Ramsey says paying off your mortgage early is one of the best financial decisions you'll ever make. I believe him.

His contention is that it frees up money to invest in ways that allow you to build wealth above and beyond the equity in the house. Otherwise you're just chasing percentage points here and there, leaving investment opportunities on the table.

 

[Marvin the Martian]

His contention is that it frees up money to invest in ways that allow you to build wealth above and beyond the equity in the house. Otherwise you're just chasing percentage points here and there, leaving investment opportunities on the table.

He's certainly right, the last few months my investments have done so well that my retirement looks to be moving back to "never".

If I paid $500 a month more on my mortgage, my mortgage would be paid off sooner. But wouldn't it be better to invest that $500 so I start gaining interest from month 1? That would have given me much more money to lose when the economy tanks.

 

[UncleMark]

He's certainly right, the last few months my investments have done so well that my retirement looks to be moving back to "never".

If I paid $500 a month more on my mortgage, my mortgage would be paid off sooner. But wouldn't it be better to invest that $500 so I start gaining interest from month 1? That would have given me much more money to lose when the economy tanks.

I'm not an acolyte, but it makes sense to me that if you can get rid of a $2000/mo. payment and still have 20 years before retiring that that money would, over the long term, bring you more wealth than any incremental differences you could exploit between mortgage interest and investment gains. It's the volume and the compounding that counts.

But hey, what do I know. I paid $15,000 cash money for my home and still am not wealthy, so I'm the last guy you want to listen to.

 

[mcmurtry66]

He's certainly right, the last few months my investments have done so well that my retirement looks to be moving back to "never".

If I paid $500 a month more on my mortgage, my mortgage would be paid off sooner. But wouldn't it be better to invest that $500 so I start gaining interest from month 1? That would have given me much more money to lose when the economy tanks.

That's because your investments are from another era; slow growth dinosaurs that should be extinct. Get with the times. My suggestion. NFTs. I'd start with The Official Bill Murray NFT 1000 featuring a unique image of the star with an accompanying anecdote

 

[hookyIU1990]

That's because your investments are from another era; slow growth dinosaurs that should be extinct. Get with the times. My suggestion. NFTs. I'd start with The Official Bill Murray NFT 1000 featuring a unique image of the start with an accompanying anecdote

Slow and steady wins the race. You need to be in Burl 100%

 

[CO. Hoosier]

He's certainly right, the last few months my investments have done so well that my retirement looks to be moving back to "never".

If I paid $500 a month more on my mortgage, my mortgage would be paid off sooner. But wouldn't it be better to invest that $500 so I start gaining interest from month 1? That would have given me much more money to lose when the economy tanks.

Liquidity has value. Taking a liquid asset and sinking it into real estate may not be the wisest move.

 

[outside shooter]

I think it was Al McGuire who said that everyone should be required to tend bar and drive a taxi for a period of time. I'd be good with making that a prerequisite for holding public office.

Bale hay, detassle corn, and be able to back up both two-wheeled and 4-wheeled wagons.

 

[UncleMark]

Bale hay, detassle corn, and be able to back up both two-wheeled and 4-wheeled wagons.

McGuire was a city boy.

 

[iuwclurker]

I'm not an acolyte, but it makes sense to me that if you can get rid of a $2000/mo. payment and still have 20 years before retiring that that money would, over the long term, bring you more wealth than any incremental differences you could exploit between mortgage interest and investment gains. It's the volume and the compounding that counts.

But hey, what do I know. I paid $15,000 cash money for my home and still am not wealthy, so I'm the last guy you want to listen to.

The future of chickens is laying more eggs.

 

[hatchetdad]

It's really simple. If there are legitimate questions about her mental capacities, she needs to be professionally evaluated and a determination should be made then.

Related, it's time to have a maximum age limit. There is already a minimum age limit.

I'd also like to see it applied to the Supreme Court too. It's not good for anyone when opposing political parties are not-so-secretly hoping against hope that someone lives or dies.

Wouldn't term limits do the job. Age discrimination is still discrimination.

 

[hookyIU1990]

Bale hay, detassle corn, and be able to back up both two-wheeled and 4-wheeled wagons.

Some of the guys I fish with always ask if I'm OK backing the trailer up to launch or take the boat out. Or someone will say I didn't know you had a boat. You backed that straight down the ramp in one try.

Yeah, it's not a running gear, it's a boat trailer and I've been doing that since I was 7. Don't know why that bugs me.

 

[DANC]

I was the opposite of you. I refinanced my home in April 2020 and took all my equity out and bought about 20 - 25 stocks and ETF's. At 2.75%, I never want to pay off my house. Wish I could have done a 50 year mortgage!

I understand. It makes financial sense to do that. I just like the security of knowing that, even if the market blows up, I'm covered for my house. Probably due to my family being financially insecure in my youth.

I hope, for both our sakes, that was a good move for you.

 

[DANC]

Well, I doubt that paying off a mortgage would ever be a BAD financial move. And I certainly understand the appeal of not having a mortgage hanging over your head. We're probably 1 to 2 years from retirement, or at least from retirement from our current professions. We want to sell the house and buy a place in the Carolinas, near (walking distance) the ocean. I won't do another mortgage though. That one will be clear from the start, even if it doesn't make perfect financial sense. So yeah, I get it. Once the regular paychecks stop I don't want any debt.

BTW, CD's don't pay anywhere near 6% any longer. Maybe 1% today? My mom buys them when she's forced to do a w/d from her IRA. It's hardly better than leaving the cash in your nightstand.

iBonds are paying over 7% now and will pay over 9% in May for 6 months, when it may go up again.

Have your mom buy them.

I learned about them from the financial gurus on this board. It's just too bad you can only buy $10,000 as an individual per year.

 

[Crayfish57]

your teacher was probably showing the other teachers , look what this clown made, he will probably be a message board messiah some day

So tell me cloverdales , even if you were sober, think you could build that, no plans just a pile of rough wood? Yeah I didn't think so. Stick to trying to drink and apparently you can't even hold your alcohol.

 

[ribbont]

I understand. It makes financial sense to do that. I just like the security of knowing that, even if the market blows up, I'm covered for my house. Probably due to my family being financially insecure in my youth.

I hope, for both our sakes, that was a good move for you.

I totally get where you are coming from and there is no right answer. If the market blows up, I'll hit you up for a place to stay. We can laugh at liberals over a few beers.

 

[CO. Hoosier]

Bale hay, detassle corn, and be able to back up both two-wheeled and 4-wheeled wagons.

And field dress a moose.

 

[UncleMark]

I totally get where you are coming from and there is no right answer. If the market blows up, I'll hit you up for a place to stay. We can laugh at liberals over a few beers.

It shouldn't matter unless you're forced to sell while you're upside down.

 

[UncleMark]

And field dress a moose.

C'mon, COH, don't bring your gal Sarah into this discussion.

 

[DANC]

I totally get where you are coming from and there is no right answer. If the market blows up, I'll hit you up for a place to stay. We can laugh at liberals over a few beers.

We can do that any time - we don't have to wait for a market downturn.

You can be like Elon Musk - he says he just couch surfs at his friends' houses, since he doesn't own one himself.

 

[mcmurtry66]

We can do that any time - we don't have to wait for a market downturn.

You can be like Elon Musk - he says he just couch surfs at his friends' houses, since he doesn't own one himself.

Man that Grimes got duped. Land the richest man in the world and the ****er turns out to be a penny pincher

 

[NPT]

BTW, CD's don't pay anywhere near 6% any longer. Maybe 1% today? My mom buys them when she's forced to do a w/d from her IRA. It's hardly better than leaving the cash in your nightstand.

CD rates are finally going up a little. Pentagon Federal CU now has a 5 year at 2.5% and a few others have a 5 year at 2%. You can get a fixed annuity that pays a little over 3% for a 5 year one.

It sure doesn't take the banks long to raise the borrowing rate when interest rates go up but savings rates creep up a lot slower. I noticed the other day that a 30 year fixed mortgage is 5% at some places whereas it was around 3% a year ago,

 

[mcmurtry66]

CD rates are finally going up a little. Pentagon Federal CU now has a 5 year at 2.5% and a few others have a 5 year at 2%. You can get a fixed annuity that pays a little over 3% for a 5 year one.

It sure doesn't take the banks long to raise the borrowing rate when interest rates go up but savings rates creep up a lot slower. I noticed the other day that a 30 year fixed mortgage is 5% at some places whereas it was around 3% a year ago,

If they can figure out a way to couple that with new inventory/construction prices will calm down

 

[larsIU]

Bale hay, detassle corn, and be able to back up both two-wheeled and 4-wheeled wagons.

Backing a trailer is a life skill. Like driving a manual transmission.

 

[Jg48]

Wouldn't term limits do the job. Age discrimination is still discrimination.

There are my good reasons for term limits. Age is only one of them and it may not be the most important.

 

[Standard Issue]

Backing a trailer is a life skill. Like driving a manual transmission.

Had drivers training in the mid seventies. It was through the school and the instructors were teachers with three students per car. The first day in the car our first driving task was to back the length of a large school parking lot following a line that ran the length of the lot. The two other guys and myself were all farm boys; we'd all driven cars, trucks, tractors, bulldozers,...
First guy to back the line did it at a speed much faster than I'd recommend in front of the other 9 cars. When he finished he looked at the teacher and said: "That's pretty easy without a wagon behind you." I and the other guy did not have to drive the line. 😃

 

[hookyIU1990]

Had drivers training in the mid seventies. It was through the school and the instructors were teachers with three students per car. The first day in the car our first driving task was to back the length of a large school parking lot following a line that ran the length of the lot. The two other guys and myself were all farm boys; we'd all driven cars, trucks, tractors, bulldozers,...
First guy to back the line did it at a speed much faster than I'd recommend in front of the other 9 cars. When he finished he looked at the teacher and said: "That's pretty easy without a wagon behind you." I and the other guy did not have to drive the line. 😃

It was spring of 83 for me. Same deal with farm kids. Instructor was one of the English teachers who was also the keeper of all the basketball stats current and historic. We'd get in the car and he'd say "Hooky, take us to X and then turn around come back." before he settled in for his 45 minute nap in the passenger seat.

 

[NPT]

If we actually had an altruistic congress in both houses, they would agree to term limits. But we don’t, and there isn’t a single member in congress who gives a rat’s behind about any of us. Feinstein no different than strom Thurmond and Jesse helms who all slept through their last 5-10 Years. They all should have gone away a long time ago.

Look at this guy... he don't show up for his office job but has time to pilot an airplane. I'm not attacking Democrats.... I'm sure Republicans are just as guilty.

Democrats have gone AWOL on their constituents - Washington Examiner

When Hawaii Democratic Rep. Kai Kahele announced he would challenge then-Rep. Tulsi Gabbard to represent Hawaii’s 2nd Congressional District, he attacked Gabbard for abandoning her duties as a member of Congress in favor of a long-shot presidential campaign. Now, less than two years into his own...

www.washingtonexaminer.com

 

[hookyIU1990]

Look at this guy... he don't show up for his office job but has time to pilot an airplane. I'm not attacking Democrats.... I'm sure Republicans are just as guilty.

Democrats have gone AWOL on their constituents - Washington Examiner

When Hawaii Democratic Rep. Kai Kahele announced he would challenge then-Rep. Tulsi Gabbard to represent Hawaii’s 2nd Congressional District, he attacked Gabbard for abandoning her duties as a member of Congress in favor of a long-shot presidential campaign. Now, less than two years into his own...

www.washingtonexaminer.com

Hypocrisy certainly isn't party dependent. I bet we could fill a couple pages of examples from both sides of the aisle. Wish we'd start holding people accountable on both sides.

 

[larsIU]

Hypocrisy certainly isn't party dependent. I bet we could fill a couple pages of examples from both sides of the aisle. Wish we'd start holding people accountable on both sides.

It's crazy isn't it.

Menendez is still in the Senate. Franken got booted. Who's worse?

Whether or not you believe in BENGHAZI! or COLLUSION! there is one truth. Nobody went down that worked within the halls of Congress. Nobody.

So, I guess you're right. The only people that can hold Congress accountable are voters. Congress definitely won't police itself.