I am recently widowed and need a little financial advice. After selling my home, I have enough money to pay off my home which I am building. My investment broker told me to invest and use the interest to pay off the monthly house payments and in 15 years I would have the exact amount of money in the bank, plus my home would be paid off. But my accountant said, PAY OFF Mortgage - THE MARKET IS TOO VOLATABLE. YOU WILL LOSE THE MONEY AS WELL AS THE HOUSE"

So can anyone give me some advice as to who is right and who is wrong?

In 2000, my wife inherited some money and we paid off our 8% mortgage just before the tech wreck. What is your interest rate? Do you think it is realistic to average a greater return over the next 15 years? Interest rates are down from 5 years ago, and the market is not as frothy now. Tougher call.

Bili1989:

A lot depends on your age and your general financial condition.

If you are relatively young (less than age 40) and you have a good paying job, that would suggest that an integrated investment plan using your employer's retirement plan, ROTH IRAs and generally diversified investments would be your best long-term option. With fixed loan rates at about 5%, you can do better investing over the long-term (20 years plus).

If you are older (50+), then paying off the mortgage and investing what you would have paid in monthly payments would be a better plan. This is especially ture if your job circumstances are tenuous.

You can contact me at [email protected] if you have more detailed questions.