should we pay off house
we are now retired and wondering if we should pay off the house. some say never pay the house off, not really sure why. house interest is 4.3% can only get 3% guaranteed interest on money. in...
Forum Discussion
Old-Biscuit wrote:John&Joey wrote:
Just a little story, if you agree with it or not doesn't really matter, but it's something to think about as you get older.
A friend of mine got a massive heart attack that left him disabled. His DW went to an attorney seeking console. His statement to her was pay off the house, buy a new car, upgrade all the appliances in the house and purchase new clothes. Once the US health system depleted all their savings, these were the items they could not touch.
Thought Obamacare fixed that
Prior to "Obamacare" you could (and STILL can) fill in that particular noun with...nursing home/ rehab center/hospice. Significant expenses that can hit you like a 100 mph train if you haven't thought of it.
Same as it ever was; you have to plan for all stages of life.
I don't get why an atty would tell me to upgrade appliances, sell/pay off the house and buy a new car but maybe that family's financials were different from my own.
Which is an important point. We aren't cookie cutter people in this country.
