Comments on: Working Hard But Not Smart

By: zaffir

zaffir — Tue, 06 Feb 2007 17:47:44 +0000

need help with paying of mortgage faster

By: Stephen

Stephen — Sat, 16 Sep 2006 07:18:36 +0000

Work? You must be kidding right? LOL!

If someone sees me working and not having fun instead, please smack me.

By: Carl

Carl — Sat, 16 Sep 2006 07:13:39 +0000

10 hours only if I have to work overtime that week!

By: John Chow

John Chow — Fri, 15 Sep 2006 08:11:29 +0000

While I can not speak for Sam or Rob, I know that Carl, Stephen and myself all work less than 10 hours a week and we’re having the time of our lives.

By: Oliver May

Oliver May — Thu, 14 Sep 2006 13:31:24 +0000

It would only be stupid if you explained how they could have made more than $120,000 in 4 years (the increased value of the house in Milton, ON.). Also explain how paying $200,000+ in interest over 20+ years is a good debt. I know the answers to these questions but none of the above responses or the article addressed them. If you could make more money through investments then maybe. Why do the banks make so much money, mortgage payments is certainl a big part of their massive profits.

It has to be a really big robbery to pay-off half a million (albeit Canadaian dollars) and get only 3 years in gaol.

Also, in Canada most mortgage interest is non deductible so you need to find an investment earning 5.2%+

A better question is; why aren’t you both working 10 hours a week and enjoying life?

By: Carl

Carl — Fri, 08 Sep 2006 07:19:37 +0000

That is really stupid! You might as well go to jail for 3 years.

By: Stephen

Stephen — Fri, 08 Sep 2006 06:53:03 +0000

I made a mistake and said they’d have nothing but the house to retire on. The article states they are aggressively saving to retire. However, with an interest rate of 5.2% on their house, they’d easily make money on that loan with a modest investment. Or, since they own the house, do one of the tax deductible mortgage interest strategies. But of course, they have no plans to go into debt again, so they won’t do that.

By: Stephen

Stephen — Fri, 08 Sep 2006 06:43:18 +0000

That’s a very old mentality to work your life to pay off the mortgage, while having nothing but your house to retire on. If they looked at their other options, they’d be further ahead for sure. It’d be interesting if they did a case study with another couple, only this time, the couple had a life, and incurred some good debt and picked up some investment saavy along the way. It would probably make the Goertzen’s feel really silly that they broke their backs for that, and they still won’t have any fun!

By: Rob

Rob — Fri, 08 Sep 2006 06:00:57 +0000

Cringe - that is a very sad story.

By: Sam

Sam — Fri, 08 Sep 2006 05:16:38 +0000

I couldn’t agree more with you, I actually find this very dumb people. I mean, I can only imagine the strain this must put on your body. I don’t think I would be able to do such things.