What rate beats paying off mortgage?
I think this is my third "pay down the mortgage or save?" post!
So here's the latest version of the question.
Let's say I am paying 6.1% for my mortgage. In my case, my interest is low enough that I can't deduct it.
So what rate of return do I have to make in order to justify simply saving the money rather than paying down the mortgage?
Is the answer as simple as suggesting that I'd need to make better than the 6.1% mortgage?
I might be wrong in my estimation techniques, but I ran some numbers through an online calculator, and it seems that I can do worse than 6.1% and I *still* do better if I just save the money.
Could that be?