"I have a recently purchased home with a $180,000 mortgage for 15 years at 4.63 percent. My new investment advisor suggests refinancing into a new 30-year mortgage at 5.85 percent to 6 percent, and investing the difference in payment. He says this will allow us to retire sooner. I am 61 and was planning on retiring at 66. I understand his argument, but I hate to give up the ultra low 4.6 percent interest rate and the peace of mind of paying off the house sooner."

Your investment advisor is either an idiot or a scoundrel.  more...