Early mortgage payoffs aren’t a no-brainer

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Abstract: The decision to speed up mortgage payments isn’t a no-brainer. There are certainly advantages, but, as this article explains, these should be weighed against the benefits of using money in other ways. First, it’s important to have a quickly accessible nest egg set aside for emergencies. It’s also important to look at the return on investment of paying off early vs. such alternatives as deducting mortgage interest, refinancing, paying down credit card debt, maxing out contributions to an IRA or 401(k), or purchasing company stock at a discount.