Last year at market high l asked if l should pay off my mortgage (320yr fix 5.25%) or stay in stocks (OVERWHELMINLY you all said stay in stocks)

WRONG!

l could have went all cash during the highs last year when l asked, paid off mortgage and been better off than l am for sure now..

WARNING: people on message boards are clueless!
*that was 30 yr fix not 320 yr fix!

well l was not on here last year - for last two years l was busy selling everything and setting up again without debt! l would have advised to sell then as this has been on the cards for some time now - two years ago l wrote an article suggesting people take a close look at their investments before the inevitable crash!

You seem to be assuming that because the value of ur stocks is low, u have lost money.

You have not lost any money yet -- unless you're *selling* ur stocks at the current low prices. If u hold on to those stocks, over time u WILL find that they increase in value again. If they're decent stocks, they will give u a much larger return than 5.25 percent over time.

Many people on message boards *are* clueless, l agree. That does not mean that holding stocks now is a bad idea.

im sorry they were wrong. that is why sometimes you have to rely on yourself and do what you think is right, not what other do.

no one knew that the stock market would fall like it did but If l had been here l would have suggested paying off a mortgage

You have nobody but yourself to blame. You should have discussed with an actual financial advisor employed with a reputable company. Nobody here conducted any transaction(s) but you with your money. Sorry, but sometimes the truth hurts.

if this is where you go for life-altering financial advice, you're an idiot! On another note, hang in there. We have nowhere to go but up. Besides, you can still write off your mortgage interest.

Second answer hit the nail on the head.

If you paid off the mortgage, you ARE better off. If your stock values are down HOLD! If you do not sell, you have not lost anything. Since the market is cyclical, it will come back. It ALWAYS has! Thinking you would be better off all cash is borderline clueless.

Last year, most of the wall street pros were advising to buy stocks & stay with the market. So, did answerers.
In the end, u r responsible for ur own decision particularly when it involves money matters.
What if the country did not face economic crisis, no mortgage defaults/foreclosures & stock market kept going up? What would u have said then, though l never gave or give advise on what stock to buy/sell/hold, get in/out of the market because l do not have a crystal ball telling me the future of financial market.
It is prudent to do ur own homework & decide for yourself what is the best course to take. l found that Finance gives analytical data on various financial issues.

Sorry, but you are clueless for taking financial advise so extreme from a message board. You should have researched it yourself, which l am sure you did. But you're just trying to blame someone other than yourself, who is ultimately responsible.

You should have used common sense..why in the world would not u pay off ur mortgage... l mean, even if the stock market exploded & u made a killing... u still have a mortgage payment...and then u would have risked all the ''easy profit''..and bam! gone six months later..stock market is gambling - supposed to be fun, but NOT life altering.

Pay off debt...save an emergency fund... go enjoy life & dabble in stocks...

What a dream if u had no mortgage payment & could sock away $1,200/MO with EASE...

duh!

l hate to break it to you.but it is likely that your home is worth less then a year ago also.

nah, everyone knows that bricks and mortar is solid and stocks are volatile.
Stocks are for people who do not mind losing. You are an adult, are not you? Use your common sense.
Btw l am buying stocks right now, from scared people who are taking a 50% loss. Do the same! lol.