tag:blogger.com,1999:blog-6787157690355329112.post2938572484041550540..comments2024-03-13T08:03:38.906-07:00Comments on Frugal Freedom: Why I Prepay My MortgageUnknownnoreply@blogger.comBlogger15125tag:blogger.com,1999:blog-6787157690355329112.post-64460871916391743112009-06-01T19:23:13.502-07:002009-06-01T19:23:13.502-07:00Thanks Sallie's Niece. I'm not really sure of my ...Thanks Sallie's Niece. I'm not really sure of my plans either beyond the paying off the mortgage part!Daizyhttps://www.blogger.com/profile/08075279944974601962noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-63120398946293624812009-06-01T06:55:17.566-07:002009-06-01T06:55:17.566-07:00Ha, I love how all the most critical comments come...Ha, I love how all the most critical comments come from the anonymous ones. To tell you the truth I didn't particularly understand your plan when I first started reading your blog but heck it's your life and you clearly know what you're doing so just ignore the naysayers!Sallie's Niecehttps://www.blogger.com/profile/03662769521869035227noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-89528668431188840412009-05-31T19:29:22.730-07:002009-05-31T19:29:22.730-07:00Yes, bugbear, I considered that route back when CD...Yes, bugbear, I considered that route back when CD rates were 5%. I took a little risk to just pay it down outright but now I could pay it off by selling an acre or liqidating my 401k so I am not worried about losing the house.Daizyhttps://www.blogger.com/profile/08075279944974601962noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-73913288454411680992009-05-31T19:03:16.430-07:002009-05-31T19:03:16.430-07:00An even safer strategy than prepayment would be de...An even safer strategy than prepayment would be depositing the prepayment cash in CDs or other money instruments so that if you lose income, you can still make the monthly payments. Then when you have enough cash, you can just make a balloon payment to finish off the mortgage.<br /><br />Of course, it will cost you a little as the most you can get for interest on cash these days is maybe 2 percent, while prepaying the mortgage saves you the 7% or so I am assuming you are paying on the mortgage.<br /><br />But I was talking about maximizing safety, not maximizing financial return.moociferhttps://www.blogger.com/profile/01325412523164314073noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-74600718669458327092009-05-30T18:49:17.885-07:002009-05-30T18:49:17.885-07:00Executioner, it amazes me how convinced some peopl...Executioner, it amazes me how convinced some people are that there is only one right way. And yet I never see the mortgage pre-payment side insisting that their way is the only way. It's always the investors who think our side is naive and foolish. Funny.Daizyhttps://www.blogger.com/profile/08075279944974601962noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-74679538142675337752009-05-30T18:39:26.651-07:002009-05-30T18:39:26.651-07:00Andy, I agree. That 'suffering' comment made me w...Andy, I agree. That 'suffering' comment made me wonder. It is too bad everyone can't appreciate living with less. They are missing out on some great experiences that money can't buy.Daizyhttps://www.blogger.com/profile/08075279944974601962noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-46233623416245964952009-05-30T18:35:19.754-07:002009-05-30T18:35:19.754-07:00Big Sis, I must admit that I still get a little qu...Big Sis, I must admit that I still get a little queasy when I see a Lindor truffle. That giant container in your pantry was definitely too much of a good thing! Truffles for breakfast lunch and dinner...baaaaaaddddd.Daizyhttps://www.blogger.com/profile/08075279944974601962noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-16409732413287772302009-05-30T18:32:50.365-07:002009-05-30T18:32:50.365-07:00Hi Lizzie, according to my boss my life is incompl...Hi Lizzie, according to my boss my life is incomplete without Netflix so maybe I am suffering and I don't know it!Daizyhttps://www.blogger.com/profile/08075279944974601962noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-5281297656753265672009-05-30T13:28:46.838-07:002009-05-30T13:28:46.838-07:00Comments like the one from Anonymous appear on my ...Comments like the one from Anonymous appear on my blog from time to time too. My favorite part of paying off my mortgage early is knowing that I am making a definite impact on my future cash flow once the mortgage is paid off. Sure, investing in mutual funds, stocks, gold, or lottery tickets MIGHT be more profitable in the "long run" than prepaying a mortgage; but then again, they might not. Anyone who put money into the stock market 10 years ago most likely has a zero or negative return during that time. Someone who instead began aggressively prepaying their mortgage 10 years ago is likely close to (if not already enjoying) a debt-free lifestyle. In the end, the choice to invest or pay down debt is nothing more than a personal preference. Anonymous is not right or wrong here; rather, he/she is simply unable to see that there are two sides to this coin.The Executionerhttps://www.blogger.com/profile/04419763605714282331noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-30420908962731205322009-05-30T11:53:25.635-07:002009-05-30T11:53:25.635-07:00It is sometimes irritating to me when people make ...It is sometimes irritating to me when people make comments such as the "suffering from minimum living" one. If she had read your blog at all it should have been obvious to her that you're not suffering. It is quite possible to have an enjoyable live without excessive spending.Andy Houghhttp://tightfistedmiser.comnoreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-22833161202187742009-05-30T08:35:39.040-07:002009-05-30T08:35:39.040-07:00She's not suffering. She lived at my house for a ...She's not suffering. She lived at my house for a while and all that "rich living" only made her fat and unhappy. (ha ha) When you take away all of life's little excesses, those little treats become what they were when you were a child...treats!! And you are so much the better for enjoying the inexpensive things in life instead of always yearning for the next shiny toy. <br /><br />My house is paid off, too :)Big Sisnoreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-62285205643168723952009-05-30T00:48:23.924-07:002009-05-30T00:48:23.924-07:00I like the 'suffering from minimum living' questio...I like the 'suffering from minimum living' question. Are you suffering? Sounds like you are having a great time to me. I am like you, I like the challenge of not thowing money at something to fix it or progress it. <br />I think you are doing the right thing with 'Daizy's desert'.Lizzie @ her homeworldhttps://www.blogger.com/profile/18257339462096688164noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-38482033026071675132009-05-29T20:12:20.624-07:002009-05-29T20:12:20.624-07:00You'll be there before you know it, and your house...You'll be there before you know it, and your house probably cost over twice what mine did. That is really impressive.Over the Cubicle Wallhttps://www.blogger.com/profile/04842722161649016062noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-29561853531073203552009-05-29T20:10:20.453-07:002009-05-29T20:10:20.453-07:00Yes, I am just a little jealous of you and your pa...Yes, I am just a little jealous of you and your paid off house. :)Daizyhttps://www.blogger.com/profile/08075279944974601962noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-4406728527002747802009-05-29T20:08:44.278-07:002009-05-29T20:08:44.278-07:00Sounds like you put a great amount of thought and ...Sounds like you put a great amount of thought and research into it and you have done what is best for you.<br /><br />From my experience, paying mine off was the best financial move I have ever made.Over the Cubicle Wallhttps://www.blogger.com/profile/04842722161649016062noreply@blogger.com