Paying off your mortgage is a time-honored part of the American Dream. At the New York Times, I tackle the question of what happens when you’re faced with the option to risk extra dollars earmarked for your mortgage on other investments. Because it involves something we feel emotion about (our homes) and the perceived potential to make more money, we often behave badly. If you’re going to compare paying down your mortgage with investing in the stock market or even in balanced mutual funds, you better make sure you’re comfortable with the additional risk you’re taking.

Risk, Emotion and the Extra Mortgage Payment (New York Times)