billw wrote:Can you imagine if social security was invested in the stock market like the thieves (politicians) proposed a couple of years ago? This makes the social security shortfall of a couple hundred billion in 20 years look like chump change.
The advice I've given my three kids is to buy a home and get it paid for as fast as you can. Your home isn't an investment as the popular investment strategies go, it's where you live. If you own your house free and clear you can weather a job loss or disability and still have a place to sleep at night. As people are learning retirement savings can vanish in the blink of an eye.
I had a discussion about this with a loan officer years ago. He kept telling me I'm missing out on tax deductions by paying off my house early. I told him the choice is give the bank 10,000 in interest or give the government an additional 1,000 in taxes. I'll pay the government and keep my 9,000 in my pocket. He just smiled at me and didn't argue.