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The Water Cooler
General Discussion
Let's talk personal debt
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<blockquote data-quote="DPI" data-source="post: 2020046" data-attributes="member: 793"><p>There are a lot of people that are house rich and cash poor. In other words, they focused on paying the house off and not saving money to live on.</p><p></p><p>I think a balanced approach is best. Do not borrow money on your house to invest. If you do have a low mortgage rate, I would not be making extra principle payments. Some mentioned the crash of 2008. That was only a paper loss unless you sold at the bottom. If you can't handle the cyclical nature of the stock market, don't buy stocks. I would be saving that money and invest to your risk tolerance.</p></blockquote><p></p>
[QUOTE="DPI, post: 2020046, member: 793"] There are a lot of people that are house rich and cash poor. In other words, they focused on paying the house off and not saving money to live on. I think a balanced approach is best. Do not borrow money on your house to invest. If you do have a low mortgage rate, I would not be making extra principle payments. Some mentioned the crash of 2008. That was only a paper loss unless you sold at the bottom. If you can't handle the cyclical nature of the stock market, don't buy stocks. I would be saving that money and invest to your risk tolerance. [/QUOTE]
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