I used to think that way too until I came upon a book "How to Achieve Wealth for Life...through Property Investing" by Tony Melvin & Ed Chan. They illustrate that depending on your porfolio size there's no point of reducing your debt (well unless you are really highly geared). Chapter 6 'Myth 5: Debt is Bad' and Chapter 7 'Myth 6: Pay off Your Home Loan as Soon as You Can' and Chapter 9 'Wealth for Life' are great examples of that point. I highly recommend it and would like to see what you think?
I actually thought of reducing our LVR approaching retirement (well hubby in 8 years mine about 14 years) but then being about 28% LVR in total, fairly big, porfolio I realised we should still invest more based on that strategy. These examples are very powerful so if you get a chance to read it please let me know if it would change your perception?
Is anyone else adopting this approach in this forum?
Basically the strategy is that if you buy well and your IPs continue to double every 10 years if you have enough in equity you could finance, live off, and grow your portfolio. I found it mind boggling!