Should You Pay Off Your Mortgage Early with a HELOC?


#22

That is exactly my feeling.


#23

Only $100k was deductible in the first place. Many countries don’t even allow HELOC or cash out on refinance. Those things definitely helped fuel the housing bubble which made the crash worse.


#24

However credit is the basis of capitalism…


#26

#27

Another version

https://www.loansafe.org/2018-tax-reform-mortgage


#28

These new tax laws are making my head spin… :rofl:


#29

Why are you people still doing your own taxes? :wink:


#30

If you don’t understand the rules of the game, you can’t game the system and win the game.


#31

I have great orgasms everytime I do my own taxes… why give the fun away to other people??? :rofl:


#32

Man… too much details.


#33

Well, when you’re on the top of the mountain, you can pay others to do your investing and taxes for you. The rest of us peons just trying to climb as fast as we can.


#34

Perfect, we must understand to take advantage at the right time. Even though I use CPA to file taxes, till last week I did not know “backdoor roth” is a good avenue for me. The reddit blog and the posting links helped me learn it. Looks like backdoor roth was started since 2010. If I assume the money grows at 7% per year, I will be simply gaining appx $300k in 20 years tax free. These are the easy money we may lose by our ignorance if we do not keep up to date.


#35

Getting it done by CPA is not too expensive. I think it’s worth it. My CPA told me to use backdoor Roth one year. I think getting a stamp of approval by a CPA lessens the odds of getting audited. Either that or I am just trying to justify the expense. :smile:


#36

I can hear you screaming from Central Sunset…


#37

Now that you became a Mexican paying for the wall, why not? :smiley: