A few months before starting Retiring On My Terms, Mrs. ROMT and I made one of the biggest decisions of our financial lives.
We decided to pay off our mortgage.
There appear to be at least two very vocal camps in the personal finance community when it comes to discussions about paying off one’s mortgage and other debt.
The first camp is passionate about eliminating all debt as soon as possible.
The second camp believes almost any debt is ok, as long as you expect to earn a higher rate of return on your investments than you are paying in interest.