These days there are a lot of arguments being waged on the benefits of paying down debt, buying used cars, paying off mortgages early, and building savings. All of these are noble financial goals, and generally receive positive reinforcement from financial planners in the media.
However, there is an element that disagrees with this logic, and they are quick to point out where the mathematics don’t support these life-simplifying steps.
This post is aimed primarily at that audience, and for the rest of you, perhaps it will provide some comfort when dealing with these types.
Excess Material Possessions + Excess Financial Worries = Stress
Since I know how much you “financial nerds” love formulas, I’ve provided one for you to chew on. I once wrote a post about homeowners paying off their mortgage early, and it was generally well-received.
However, I received a number of emails from “financial experts” out there who disagreed with the idea. They were all-too-eager to tell me about the various ways that same money could be earning more in the markets.
Maybe so. But their fancy formulas didn’t account for the one variable most important to me at this stage in my life ... Read the entire article.
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