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![]() "Eisboch" wrote in message ... "Vic Smith" wrote in message news ![]() On Wed, 20 Aug 2008 16:33:11 -0400, John H. salmonremovebait@gmaildotcom wrote: On Wed, 20 Aug 2008 15:28:48 -0500, Vic Smith wrote: On Wed, 20 Aug 2008 16:16:32 -0400, John H. salmonremovebait@gmaildotcom wrote: Would it be a wise move to take out a loan on your home to buy stocks? Would it be a wise move to sell stocks to pay off a loan on your home? A lot has to do with your personal view on risk and holding debt. Personally I hate any debt. Since *nobody* can accurately predict what the stocks will do, it comes down to that. Well, I guess that was no help at all. --Vic When I bought the house, I was holding a lot of debt. I'm still holding some debt on the house. Taxes are tricky. I'd love to knock off the rest of my house debt, but the tax hit in cashing in a CD doesn't give advantage. If it was less than a grand costs I'd do it anyway, just to clear the debt. Like I said, personal view. --Vic Having spent most of my life in debt, I don't understand why anyone wants or needs it (except banks) once they are in a position of paying it off. We own three houses and hold a mortgage for a forth (sold it and are acting as the "bank"). We don't have any mortgage payments or debt. We pay credit card balances off every month. I've been advised that's bad because we don't get any tax advantages. But, to me, it isn't worth it. Why pay somebody interest, just to get a write off on income taxes that does not equal the interest paid? Eisboch I made sure our house and vehicle were paid for before retiring. The old van is gone now and I'll look carefully before buying new in March when the Ranger pickup goes back off lease. We don't get any type of tax shelter on our house mortgages, so it tends to be a long tough slog. |
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