Seated, Cap Bust, and Flowing Hair Half Dollars in PCGS Plastic as many as I could find until it ran out. VF to AU grades. OH and try to finish my Walker set.
why pay down the mortgage on your house more quickly? it would mean losing a possible tax deduction for starters. also you house is going to appreciate or depreciate at the same rate regardless of how much you owe on it- why would you bother to pay any of it off?
if i received 50,000 i would follow roadrunners lead and purchase gold/silver bullion on dips, would finish my lincoln set, and would purchase a larger house to have a larger mortgage.
I'd buy 25,000 1804 silver dollars in China so that I could post listings on eBay saying that we'd found them underneath the outhouse of my great-great-great-great-great-grandfather's log cabin in northern Virginia and dont know if they're authentic or not seeing as how we're not coin graders and use the proceeds to buy 2 or 3 small Pacific island nations.
<< <i>why pay down the mortgage on your house more quickly? it would mean losing a possible tax deduction for starters. >>
If you are in the 28% bracket why on earth would you give a mortgage banker $100 to get $28 back from Uncle Sugar? Thats like pissin $72 down the terlet. Give Unka Sugar the $28 and have the $72 to spend on yourself. Paying mortgage interest because you have to is one thing, but doing it if you dont need to is something else. Thats my opinion.
<<why on earth would you give a mortgage banker $100 to get $28 back from Uncle Sugar?>>
You didnt look at the complete package. What is the LOAN RATE??? Say the mortgage is at a today high 7%. 28% deduction gets it down to 5%. Even today, I would love to borrow as much as I can at 5% - I can make more than 5% any say - 4-year period in REstate, or stocks. Always have, always will. I'd gladly "piss away" $72 to make $73 or more. That's my financial advice for the day. (night).
BTW, with $50,000, I am with Stewart Blay. He NEEDS those things, but I need nothing right now. So I'd by ANOTHER MS65 PCGS 1907 High Relief. Yes, shocking from the man who thinks the design is so-so, and against the "2006 Gold Rush".
<<why on earth would you give a mortgage banker $100 to get $28 back from Uncle Sugar?>>
You didnt look at the complete package. What is the LOAN RATE??? Say the mortgage is at a today high 7%. 28% deduction gets it down to 5%. Even today, I would love to borrow as much as I can at 5% - I can make more than 5% any say - 4-year period in REstate, or stocks. Always have, always will. I'd gladly "piss away" $72 to make $73 or more. That's my financial advice for the day. (night).
..........
Most people I know can't afford to pay cash for a car much less a home so if you HAVE to finance the purchase its good that Unka Sam gives you a tax deduction on the interest you pay. To borrow $$ for the purpose of getting a tax deduction which is the way many present it is IMO incredibly dumb. I don't know any banker who is going to give you a home loan to buy stocks with. To me a mortgage is an obligation I could live without. I have yet to get a monthly bill where payment is optional. Personally I would like the security of a paid for home. Not sure if I would be willing to sell my coin collection to pay it off tho.
<< why pay down the mortgage on your house more quickly? it would mean losing a possible tax deduction for starters. >>
If you are in the 28% bracket why on earth would you give a mortgage banker $100 to get $28 back from Uncle Sugar? Thats like pissin $72 down the terlet. Give Unka Sugar the $28 and have the $72 to spend on yourself. Paying mortgage interest because you have to is one thing, but doing it if you dont need to is something else. Thats my opinion.
anytime you can borrow money at a net 5% and safely do something to earn a higher rate is a no brainer. that is what banks do all the time with money: lend it out at a higher rate than they pay to receive it. we call it arbitrage and the use of other people's money.
the main reason NOT to pay off your house is because the equity in your home has no rate of return. it will go up or down in value regardless of how much you owe. how much do you want to have stuck in an asset with a zero rate of return? as little as possible, especially if i get to claim a deduction for using other people's money more effectively.
To me a mortgage is an obligation I could live without. I have yet to get a monthly bill where payment is optional. Personally I would like the security of a paid for home. Not sure if I would be willing to sell my coin collection to pay it off tho
if you owe $100,000 on a mortgage and have $100,000 safely sitting inside a different asset you can reach with a phone call, do you have any debt? of course not.
how liquid is the equity in your home when you become disabled or unemployed? try to get a loan with no job!
how secure is a home that is paid off when the next hurricane, flood, or fire comes? your money is trapped inside that asset as you pray the storm veers elsewhere or you pray the insurance company treats you proplerly or you pray for someone to come along and release the money to you when they purchase the home?
paying off your mortgage does not give you security, liquidity, tax advantage, nor a rate of return.
<< <i>how liquid is the equity in your home when you become disabled or unemployed? try to get a loan with no job! >>
Try making the payments on a loan you already have without a job? A mortgage is just one of several monthly obligations that must be satisfied with reduced or no income. I guess at worst you could sell the property even into an unfavorable market. If you own it free and clear no one can takle it from you as long as you can afford the property taxes. Whether you own outright or are making payments the property will most likely be insured against loss.
<< how liquid is the equity in your home when you become disabled or unemployed? try to get a loan with no job! >>
Try making the payments on a loan you already have without a job? A mortgage is just one of several monthly obligations that must be satisfied with reduced or no income
my friend, that is exactly my point. you could easily make that mortgage payment from another asset if you pulled out the equity before the disability or job loss and had the money stored safely and was liquid. besides, there is no reason to have money locked up in an asset with a zero rate of return.
Comments
Bruce Scher
if i received 50,000 i would follow roadrunners lead and purchase gold/silver bullion on dips, would finish my lincoln set, and would purchase a larger house to have a larger mortgage.
I would buy a new pick-up truck,a new flat screen television and some new furniture for my loft.Coins are too too expensive.
Stewart
I'd buy 25,000 1804 silver dollars in China so that I could post listings on eBay saying that we'd found them underneath the outhouse of
my great-great-great-great-great-grandfather's log cabin in northern Virginia and dont know if they're authentic or not seeing as how
we're not coin graders and use the proceeds to buy 2 or 3 small Pacific island nations.
i
They have to be damaged, tooled, cleaned P01's today for $50,000 max. A VG10 1794 NGC dollar just sold for $105,000 recently/Heritage.
<< <i>why pay down the mortgage on your house more quickly? it would mean losing a possible tax deduction for starters. >>
If you are in the 28% bracket why on earth would you give a mortgage banker $100 to get $28 back from Uncle Sugar? Thats like pissin $72 down the terlet. Give Unka Sugar the $28 and have the $72 to spend on yourself. Paying mortgage interest because you have to is one thing, but doing it if you dont need to is something else. Thats my opinion.
*******************************************************************************
You didnt look at the complete package. What is the LOAN RATE??? Say the mortgage is at a today high 7%. 28% deduction gets it down to 5%. Even today, I would love to borrow as much as I can at 5% - I can make more than 5% any say - 4-year period in REstate, or stocks. Always have, always will. I'd gladly "piss away" $72 to make $73 or more. That's my financial advice for the day. (night).
BTW, with $50,000, I am with Stewart Blay. He NEEDS those things, but I need nothing right now. So I'd by ANOTHER MS65 PCGS 1907 High Relief. Yes, shocking from the man who thinks the design is so-so, and against the "2006 Gold Rush".
You didnt look at the complete package. What is the LOAN RATE??? Say the mortgage is at a today high 7%. 28% deduction gets it down to 5%. Even today, I would love to borrow as much as I can at 5% - I can make more than 5% any say - 4-year period in REstate, or stocks. Always have, always will. I'd gladly "piss away" $72 to make $73 or more. That's my financial advice for the day. (night).
..........
Most people I know can't afford to pay cash for a car much less a home so if you HAVE to finance the purchase its good that Unka Sam gives you a tax deduction on the interest you pay. To borrow $$ for the purpose of getting a tax deduction which is the way many present it is IMO incredibly dumb. I don't know any banker who is going to give you a home loan to buy stocks with.
To me a mortgage is an obligation I could live without. I have yet to get a monthly bill where payment is optional. Personally I would like the security of a paid for home. Not sure if I would be willing to sell my coin collection to pay it off tho.
If you are in the 28% bracket why on earth would you give a mortgage banker $100 to get $28 back from Uncle Sugar? Thats like pissin $72 down the terlet. Give Unka Sugar the $28 and have the $72 to spend on yourself. Paying mortgage interest because you have to is one thing, but doing it if you dont need to is something else. Thats my opinion.
anytime you can borrow money at a net 5% and safely do something to earn a higher rate is a no brainer. that is what banks do all the time with money: lend it out at a higher rate than they pay to receive it. we call it arbitrage and the use of other people's money.
the main reason NOT to pay off your house is because the equity in your home has no rate of return. it will go up or down in value regardless of how much you owe. how much do you want to have stuck in an asset with a zero rate of return? as little as possible, especially if i get to claim a deduction for using other people's money more effectively.
if you owe $100,000 on a mortgage and have $100,000 safely sitting inside a different asset you can reach with a phone call, do you have any debt? of course not.
how liquid is the equity in your home when you become disabled or unemployed? try to get a loan with no job!
how secure is a home that is paid off when the next hurricane, flood, or fire comes? your money is trapped inside that asset as you pray the storm veers elsewhere or you pray the insurance company treats you proplerly or you pray for someone to come along and release the money to you when they purchase the home?
paying off your mortgage does not give you security, liquidity, tax advantage, nor a rate of return.
<< <i>how liquid is the equity in your home when you become disabled or unemployed? try to get a loan with no job! >>
Try making the payments on a loan you already have without a job? A mortgage is just one of several monthly obligations that must be satisfied with reduced or no income. I guess at worst you could sell the property even into an unfavorable market. If you own it free and clear no one can takle it from you as long as you can afford the property taxes. Whether you own outright or are making payments the property will most likely be insured against loss.
Try making the payments on a loan you already have without a job? A mortgage is just one of several monthly obligations that must be satisfied with reduced or no income
my friend,
that is exactly my point. you could easily make that mortgage payment from another asset if you pulled out the equity before the disability or job loss and had the money stored safely and was liquid. besides, there is no reason to have money locked up in an asset with a zero rate of return.
You can pay $10,000 to get $2500 if you wish.
Personally, I prefer to pay nothing and collect $2500+ from the standard deduction.
Now, if you are faking your deductions, then the standard deduction is not as advantageous....