17 January 2011
There WILL Be A Ceremony.
I MAY have just done something exceedingly stupid. Only time will tell.
The balance on our mortgage was $23,319.45. Calculator at hand, I multiplied my mortgage payment by the number of payments remaining and was somewhat shocked at the figure:
$62,400 and a little change.
So this month my check for that loan read $23,319.45. I'm sure there will be adjustments to come... escrow issues, etc., but those should be minor.
Our house no longer belongs to us, the bank, and taxing authorities.
It belongs TOTALLY to us, AND the taxing authorities.
Over the next months I'll get the answer to my question...
Would I have been better served instead to have taken that money to my silver merchant? Silver and Gold are both down a little as I write this, so it's actually a good buying opportunity. And if the bottom does fall out of the economy, the $$ I'd have used to pay the remaining loan would have been of lesser value, maybe even near-worthless.
But it's one less responsibility to worry about, and I now have a few extra disposable dollars to use monthly to buy silver, ammo, water purifiers, or whatever.
So whatd'ya think?
Smart move, or dumb,dumb,dumb?