No hurry to pay off the mortgage

[67Dino]

SkinnyPete said:

67Dino said:

Congratulations SkinnyPete, I am full of admiration for your determination and discipline to achieve this aim.

…

But what I don’t get is why pay off the mortgage so early in your life? If I were you I’d be looking across at all that cash piling up in investments and just wishing it was doing more for me both financially and in terms of my living space.

Am I right in thinking that for you the experience of debt is a burden, and that the release from it outweighs those benefits? Or is it some other reason? Genuinely curious.

Edited by 67Dino on Saturday 25th September 08:12

Thanks for the comments.

You definitely have a valid point, and I’m not disputing that a investing in a low cost global tracker would probably have put me in a better financial position in terms of NET worth.

Like I think I said earlier on though, this is very much an emotional decision. I felt like the mortgage and the environment around it (interest rates, recessions, fear of job loss etc.) took up space in my head and distracted me from other things.

Investing a random £5k in Crypto is a gamble I can now afford to take, and if it goes to 0 then oh well. Investing £5k in Crypto, for it to go to 0, while I’m still working to pay for a roof over my head would make me like a chump.

Thanks SkinnyPete, can totally understand that.

Funnily enough, investing in Crypto would have the same effect for me, what with the volatility, populist investing bubble and lack of fundamentals. Much prefer a nice property investment! Ah well, different strokes for different folks and all that…