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      09-25-2021, 09:10 AM   #18
zx10guy
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Quote:
Originally Posted by tom2021 View Post
I have been worried about inflation for several years.
Precautionary actions:
1. Pay down mortgage.
2. Have more than one car that will last long.
3. Build inventories of tools, equipment that you need or will need in the future.
4. Diversify investment: stocks, commodities, gold, even a little bitcoin.
5. Hedging is great idea. However, you can do it with your own business, I don't see how you can do it effectively with personal wealth.
Even though I said I am now starting to look at paying off my mortgages, this has to be put into context. I'm 50 and had some thoughts about retiring at 55. But am probably going to keep working as long as I feel up to it. The reason I am looking at paying off my mortgages is because my timeline for retirement is getting close and I'm doing tax planning.

If you still have a long ways from retirement, paying down (aggressively)/paying off your mortgage is the last thing I would do. Especially if you have a low fixed rate interest on your mortgage. It's going to be the cheapest money you can ever get your hands on with the ability to write off interest payments on your taxes. Not to mention the liquidity situation if you need to get access to money you've locked away into your home. If you're young, have a good mortgage on your home, I'd take the extra money you'd put into aggressively paying down your mortgage into the stock market.
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