My uncle in Tampa insisted his whole life that paying off a 2.5% mortgage early was the smartest move, and I finally told him he was throwing away free money.

He looked me dead in the eye at a family BBQ last summer and said, 'I sleep better knowing the bank doesn't own my roof,' which made me realize some financial advice just ignores basic math for peace of mind.

2 comments

2 Comments

wyatt_perez798d ago

Wait, he had a 2.5% mortgage and paid it off early?

margaret_lane8d ago

Honestly, I get it. For some people, the peace of mind is worth more than the potential investment returns.