Roger Schlesinger





Lets explore it further.

30 year view:

$300,000 4.375% mo. payment $1498

5 years

$62,823 Interest Paid

$272,952 Balance

10 years

$125,900 Interest Paid

$234,236 Balance

14 years 3 months

$160,454 Interest Paid

$204,320 Balance

19 years 8 months

$202,701 Interest Paid

$149,207 Balance

30 years

$239,228 Interest Paid

$0 Balance

15 year view:

$300,000 3.5% mo. payment $2145

5 years

$45,560 Interest Paid

$216,831 Balance

8 years 6 months

$68,178 Interest Paid

$149,423 Balance

10 years

$75,593 Interest Paid

$116,080 Balance

15 years

$86,037 Interest Paid

$0 Balance

Obviously the numbers can speak for themselves, but what about the time: your life's clock. If your 25 and just beginning do you want to be middle aged before you pay off your house?

If you are 50 can you see paying off the house you just purchased long after your friends and relatives have retired?

Let's look at the bright side. If you are 25 you can take a 15 year and be done at 40. If you are 50 you can be done at 65. All the extra time you won't be paying a mortgage you will have the money to do something you would really like: travel, develop a hobby, retire, run for Congress or become a senior statesman!

This isn't a long column because it doesn't take much time to read it and understand what you have been doing to yourself and what you could do for yourself instead. Live your life without additional stress and with more change!

Roger Schlesinger
