Comments on: Lock ‘n load http://www.greaterfool.ca/2009/07/05/lock-n-load/ Book and Weblog - Authored by Garth Turner Wed, 08 Feb 2012 18:56:14 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Ben http://www.greaterfool.ca/2009/07/05/lock-n-load/comment-page-3/#comment-34756 Ben Wed, 08 Jul 2009 11:15:02 +0000 http://www.greaterfool.ca/?p=2846#comment-34756 Amidst all the back and forth and partial truths resulting from half-formed thoughts ('tis the difficulty of communicating via the written word, I suppose), Garth in the end did actually manage to sum up the main truth very tightly: GT @ 97: “Converting a monthly into a weekly equal to one quarter of a monthly will save a homeowner thousands in interest and retire a mortgage years before the amortization sked indicates.” For the masses out there who can't be bothered with how and why it works, do exactly what this sentence says, and you will save a lot of money. Amidst all the back and forth and partial truths resulting from half-formed thoughts (’tis the difficulty of communicating via the written word, I suppose), Garth in the end did actually manage to sum up the main truth very tightly:

GT @ 97: “Converting a monthly into a weekly equal to one quarter of a monthly will save a homeowner thousands in interest and retire a mortgage years before the amortization sked indicates.”

For the masses out there who can’t be bothered with how and why it works, do exactly what this sentence says, and you will save a lot of money.

]]> By: nearmilton@yahoo.com http://www.greaterfool.ca/2009/07/05/lock-n-load/comment-page-3/#comment-34690 nearmilton@yahoo.com Tue, 07 Jul 2009 21:02:43 +0000 http://www.greaterfool.ca/?p=2846#comment-34690 i tried the calc with dividing by (365/7)= 52.14 instead of 52...I get 25 years. Conclusion: paying weekly vrs monthly does not save you thousands, its the mere fact of paying down on the principle which "saves" you. <em>Wrong. -- Garth</em> i tried the calc with dividing by (365/7)= 52.14 instead of 52…I get 25 years.

Conclusion: paying weekly vrs monthly does not save you thousands, its the mere fact of paying down on the principle which “saves” you.

Wrong. — Garth

]]> By: Dan in Victoria http://www.greaterfool.ca/2009/07/05/lock-n-load/comment-page-3/#comment-34655 Dan in Victoria Tue, 07 Jul 2009 16:08:44 +0000 http://www.greaterfool.ca/?p=2846#comment-34655 Oh my, sometimes I wish that Phineas J Whoopee and his 3 D blackboard were still around. Oh my, sometimes I wish that Phineas J Whoopee and his 3 D blackboard were still around.

]]> By: john http://www.greaterfool.ca/2009/07/05/lock-n-load/comment-page-3/#comment-34639 john Tue, 07 Jul 2009 13:33:21 +0000 http://www.greaterfool.ca/?p=2846#comment-34639 Nobody with something of (even marginal) value to say gets deleted. — Garth I'm just an accountant I don't understand the finer points of rhetoric Nobody with something of (even marginal) value to say gets deleted. — Garth

I’m just an accountant I don’t understand the finer points of rhetoric

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