Read? Will You Try To Pay Off Your Housing Loan ASAP If You Have One? (9)
Fully paid home may go beyond the Returns of investment dollars and opportunity cost
What is the dollar value of the Mind of Peace and Beloved Gift to your family when you are gone?
The best gifts to leave behind for our family when we are gone are (1) fully paid home (if not, then fully insured mortgage insurance), (2) adequate life insurance coverage and (3) well written Will.
We should aim for ONE THING LESS to worry for them.
So, what is the dollar value of this One Thing less to worry for your family? Anyone?
I agree with you.
ReplyDeleteBut I would just like to point out that on the other side of the fence; the reason why we are worried is because of fear. The fear of scarcity, the fear of insecurity, the fear of not enough. Its the fear that drives our action to pay up for our mortagage loans etc.
"the fear that drives our action to pay up for our mortagage loans etc"
ReplyDeleteNot sure how truth is this statement.
After debt free, I am all out to invest for bigger returns and take bigger risks. In fact, I was less fearful in my investing strategy.
Probably, the statement is true for those are not aggressive in their investing strategies after debt free.
If you invest in properties, then unlikely you will be debt free.
ReplyDeleteIf the property investment is handled well, like with a fully covered mortgage insurance, the dependents may even get a windfall should the investor meet with a major mishap.