Recently a co-worker asked my opinion on paying off mortgage or investing in the market. I am not an expert in this field but have gathered enough data to help me provide an intelligent answer.
My answer: Pay Off Your Mortgage. No matter what “experts” say, once you payoff the mortgage you know that you have a place to live that is yours. You own it. Returns in the market are not guaranteed but saving that interest and having a peace of mind is guaranteed when you payoff the mortgage.
I made a huge mistake of investing my money in the stock market before I bought my house. I lost most of it and am still recovering from it. Now I make sure to pay extra towards my mortgage. I still invest some but paying off the mortgage is my priority.
What do you think?