I’ve been having a long debate in my head. Pay off the mortgage and be done with it or invest or do a bit of both. The debate goes something like this: I could pay off the mortgage easier since interest rates are so low and interest rates are likely to rise in the future are rising so I could save that future debt load. Or do I invest since interest rates are so low and try to get a better rate of return in the mean time and off set future interest costs.
Since my crystal ball is cracked and foggy I know I can’t know the future on this one. In reality the debate is rather useless, both are good ideas. Either way I’m investing for my future which is a good idea. So once I realized the numbers don’t matter so much about this debate it got easy. It’s really about what do I feel is the right way to go.
So after a short discussion with my wife where she asked a few questions about either way I found out we are thinking the same way. We have decided to kill off the mortgage over the next several years. We will only been doing a bit this year as I still want to finish off my other goals for this year first and then at the start of 2010 we will kick the process into high gear.