To pay or to keep– that is the question!
Being able to be totally debt free is something all of us dream about. I mean wouldn’t we want to pay off the mortgage and finally own that home we call ‘our own’. While this is an interesting idea, it may not be a financially sound plan say some experts. Frugalliving.about.com reports:
The book called "Ordinary People Extraordinary Wealth, A New York Times best seller, by Ric Edelman states in his findings that most of the 5000 people he surveyed with extraordinary wealth still carry a mortgage.
Read more: Pay It Off Or Keep It?
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June 16th, 2006 at 4:38 am
Yes I admit this is a huge headache. If you clear up all your debts too early and if you are really successful in doing it then income tax will charge extra. It is really a big dillemma whether to clear up early or take time.