In the book, Standing for Something, pg. 87 President Hinckley shared the following example:
One man told me about a mortgage on his home that was drawing four percent interest. Financial consultants told him it was foolish to pay off that mortgage when it carried so low a rate of interest. But the first opportunity he had to acquire some means, he and his wife determined they would pay off the mortgage. He has been free of debt since that day- which I believe has contributed, over time, to his subsequent financial comfort and, more importantly, to a a sense of great personal freedom and peace of mind.
