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Have we reached the "end?"
Quote:
Originally posted by Adder
Student loans are one thing, the house is another. From a purely financial point of view (a little leverage is a good thing), there isn't a lot of reason to pay down either (depending on the rates), other than peace of mind.
But yeah, with the house you are also throwing away the tax advantages.
Of course, to each his or her own, and maybe debt causes her enough anxiety that the peace of mind is worth it.
ETA: you could save your bonus for retirement.
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I've never really understood this. Why is paying interest to get the tax break on the interest better than not paying any interest at all? I suppose if the deduction knocks you down a tax bracket, there's some wisdom there, but I don't really see how paying, say, $18,000 to a bank a year in order to get $6,000 back in taxes is better than paying nothing to the bank.
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