Ryan, KC8PMX wrote:
If your interest rate is less than 5%, the best loan to get is a 30 year!
It's cheap money. Paying off a house quick is foolish. And the monthly
rate is usually a hell of alot less too. Spend the difference of that
paying off bills or invest it in a mutual fund or something.



Ahh, a financial truism! This belongs with:

The stock market ALWAYS goes up!

(It soitanly do, but over long time periods that are not relevant to
most of us who don't live over 150 years. More importantly it is what
the market is doing around the time you take your money out.)

Move your money into high yield accounts shortly before you retire, that
way you'll have more money when you retire!

I've listened to investment consultants actually pull this one out of
their hats. I know some older folk who have done this and now have
almost no retirement funds.

I have to chuckle at your truism. first, because your friend the real
estate agent uses those sort of arguments to talk you into buying
several thousand or tens of thousands more dollars worht of house.
Second is that You are saying a person who gets out of debt is foolish.

Best way to not be a fool is to not go heavily into debt in the first
place. I have a 5 percent loan, but I'll pay it off quickly, I think.

Instead of paying off that low interest loan quickly, one is smarter paying
off the higher interest loans like automobiles, department and credit card
charges, and other loans/debts.

Again, it's better to not get into a situation where you would have to
choose which loan you're paying off early.

- Mike KB3EIA -