There is an old saying: Opinions are like [ahem...rear ends]. Everyone has one – and they all stink!
After noting that I must be onto something when two out of three people told me I was crazy, I asked two more people. One told me that I was “even more wrong” because I didn’t consider that twenty years from now I will be paying with cheaper money because of inflation. The other told me that I was wrong if I only looked at the numbers but that he understood that it was not just about the numbers.
About the inflation argument: I get it. My payments are fixed until 2035. $1 now is not the same as $1 then because the dollar will in (in theory) be worth less then when adjusted for inflation. So as time goes on I will be paying with cheaper money. It’s similar to the arbitrage argument. But – again - it’s not (just) about the numbers.
I hear ya folks. But I made my decision. I’m already almost 5% there. Any other reasons I’m wrong? Feel free to let me have it in the comments.
What do the experts think? Check back in for some thoughts from a few “experts” in the field. Who do you look to for personal finance advice? I assume I have one supporter besides my wife (Should the “wrong but I understand” guy count as a third?). Any others?
Until next time. Step away from the mall and no one will get hurt!
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