The author accords interest payments due 20 or 30 years in the future the exact same value as cash in hand today. It appears that there is NO time value for money.I don't disagree with the premise that many families are better served by prepaying their mortgages than by spending surplus family cash flow, but the Cunningham's "proof" of that wisdom is such a far fetched reach, that the entire book is not suitable for anyone wanting to understand the most basic concepts of money, finance and investing. It misleads the reader and denies the advantages of saving and investing money.
A "proof" of the foolishness of the author's basic premise is this reader's intuitive answer to a hypothetical offer to accept employment from an employer today; but not to receive today's wages until 25 years in the future. No interest, no compounding; just payment of today's wages deferred until middle age.... No thanks.
