Pay off mortgage or not

We need to look at this from investment point of view. Treat paying down a loan like a bond investment and compare to other options.

Advantages of early pay-off

  • One less bill to worry about. Peace of mind
  • Simplified life. No need to budget for mortgage payment
  • Guaranteed, zero-risk return for bond equivalent to mortgage interest rate.

Disadvantages of early pay-off

Using Rails console for debugging

Use following command from your project folder. (Note: Do not use $irb command as it will not work, although the console shows irb prompt).

$rails console # Start rails console

Use "awesome print" gem for better readability. (Refer documentation of awesome print gem.)

$require "awesome_print"

>>ap Event.all (Event is the object we want to view)

>> ObjectName.where(key1: value1).order(:key2).limit(5)