What do plan to do when your home is finally paid off?
Vacation? Finally a new car? Load up the retirement account?
I’d bet there is not one that think about another major life purchase requiring another mortgage to pay off for another 20 years!
Our ballots are due this coming Tuesday, our country and snow college desires for us to make another massive purchase even before our current mortgage is paid off. 25 million dollars for a new swimming facility that might serve 500 of 15,000 residents!
Are new buildings nice? They better be. But we already have a year round pool. Full sized and serving the same 500 that will use a new facility.
The old facility costs 100k or such to maintain and keep up to date. The new facility will cost over a million dollars a year just to maintain and keep up to date. Plus the amount of money spent on debt retirement.
We have some things that are about to be paid off, the county, city and college seem to think we need something new full of water and other facilities that are already plentiful in our valley.
Sure it would be nice to be able to point out all of that new stuff to sell some gas, hotel rooms and meals a few times a year. But our current facilities already allow that to happen.
How about instead of taking more money from you each year, our officials actually reduce spending and the amounts of money they ask of us, and reduce taxes.
I’ll go back to the first question, what will you be doing with what will feel like a windfall of extra money in your account the day you pay off your mortgage?