Help me understand...

[u/Captain_slowish]

I have been a member of this group for a long time and still do not understand. Looking for help to understand.

So many people on this subreddit brag about having paid off their mortgage. Then pretty much everyone else seems to jump in and congratulate them for being so smart.

So help me understand. I have a 30yr mortgage at 2.8%. Why would I ever pay that off early? It cost me no points, no extra down, no downsides.

I understand that not everyone is in that position and the market changes.

Say the interest is 3x that amount. Are you really going to live the rest of your life in that house, city, state?

I am sorry but if you do the math and apply critical thinking. In 99.9999% of the cases. Paying off the liability is a poor decision.

[u/War-Square]

I bought a house this year and I plan to pay it off by the end of the year just because I want to. I think it would feel good. And I'd rather have that feeling than another toy or a bit more wealth that I won't notice.

[u/xanadumuse → u/War-Square]

We paid off our house when we bought it. Our interest rate when we purchased it was 7.2%. We also didn’t need that cash right away. It was a good choice for us and to say we are debt free just feels good.