Quote:
Originally Posted by GregWeld
Yes -- a guy would probably have more money NET in his pocket if he had no payment... but most people have to live somewhere.... and that has a 'cost' attached to it. If you're house is paid for - but that cash is tied up and so is not earning your anything either.
Obviously the best scenario is to have no payment and no taxable income and have enough to live on... but for about 99% of the population that just isn't how it works out. 
I keep a mortgage to offset some income that I have that puts me in a higher bracket... and the invested cash earns more than I pay out... but that is NOT the normal situation. |
I agree. I could pay off the house, but at 4% interest, why ? I make more being invested..
I am also the 30 year loan type of guy...I don't need a paid off house and less investments. But that is a personal choice.
Plus the write off, and inflation, and I am paying 3%... I can make that throwing darts to pick my stocks..
Also a side note..We just got back from the Ahwahnee Hotel in Yosemite...
That is how I like to camp....Presidential suite...