Originally Posted by
threeighteen
Do not pay off that loan with cash. Invest your cash elsewhere if you want, but paying that off is about as dumb as paying off your mortgage early.
Not necessarily. It is situation specific with numerous variables. Paying off the mortgage makes sense for some if math works. They'd pay more to the bank than the deduction from the IRS. It's also nice to have the security of never having to work again because you owe no one. Don't like the job you have? See ya boss man. Still need deductions? How about charity donations. Imagine that - helping others.