Chances are you know who Ben Stein is, but in case you don't..."Bueller...Bueller".  That's right, he played the Economics Teacher in Ferris Bueller's Day off.  He also ran a game show on Comedy Central called "Win Ben Stein's Money".

You may remember these shows, but his background goes much deeper than  just his "humor side".  Things you may not know are that he is a lawyer, economist and commentator on finance.  He runs a bi-weekly column in the New York Times, has been a longtime contributor to Barron's, and a columnist and editorial writer for the Wall Street Journal.  He even has a few books on personal finance as well as articles that appeared in the New York magazine and Washington Post.  I think it is fair to say that he knows what he is talking about.

Mr. Stein recently posted an article titled, "When Paying Off Doesn't Pay".  In this article, he answers the many letters that were asking him whether it's better to pay off your mortgage or invest the money in the stock market instead.

In his usually manner, he breaks it down in a simple, easy to understand, fashion.  So, as he explains that "no one ever spent a sleepless night because she had millions in the bank and stocks and didn't have her home paid off."  Adding to that, "On the other hand, if you pay off your mortgage and deprive yourself of liquidity, you could be in for some miserable times."

I suggest reading the article as you can clearly see how this all plays out as he explains that it may be better to keep that mortgage, even when money is tight, and even when you are an older person.  He goes in to explain how it is easy to make money on the "spread" over the long term.

He does mention there is risk by placing it the stock market and that it is not for everyone.  It stresses the importance of finding a truly qualified mortgage professional to assist you in properly structuring your mortgage to compliment your financial plan. 

He ends his section on mortgages by saying "unless you are sitting on surplus cash, I see no urgent reason to pay down or pay off your mortgage in a hurry."