>>I invested with steady 12-14% returns for 10 years and then watched it all get wiped out.
I'm guessing you mean that all your gains got wiped out, not that your investments all went to zero.
On the other hand, a lot of people spent years paying on a mortgage only to get foreclosed on and lose everything including their principal. ie, that investment went to zero, or maybe even negative.
There's a lot to be said for paying down your mortgage, but remember that until you've completely paid off the mortgage all of your equity is at risk.
I'm guessing you mean that all your gains got wiped out, not that your investments all went to zero.
On the other hand, a lot of people spent years paying on a mortgage only to get foreclosed on and lose everything including their principal. ie, that investment went to zero, or maybe even negative.
There's a lot to be said for paying down your mortgage, but remember that until you've completely paid off the mortgage all of your equity is at risk.