How My Colleague Lost 400,000 With This Financial Decision

Good morning!

Not all good decisions are the best decisions. Paying down loans is generally considered a good thing, and I agree. However, my colleague chose to pay off his house early, and that will cost him 400,000 in the next 30 years. Ouch!

This case study will investigate whether he could have better invested this extra money instead of throwing it at his mortgage. It will look at the financial pros and cons and then conclude not only with the financial results, but also qualitative arguments like peace of mind.

Read the full article here on Fire The Boss.



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