Quote:
Originally Posted by Vegas69
Hey, I'm not saying it's a bad play, but it may not be right for him.
I've never met one person with a paid for home that told me it was a mistake and I've met more than a few. Not everybody is looking to conquer the world and all the trouble that can bring. Some like a simple life with little risk.
Plus, you need a much higher return than 3% to make the math work. I don't know what it is, but I'm guessing 10+ percent to make it worth the trouble.
Bottom line, having a paid for home puts you in a very good position to have choices and security.
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Your 10+% guess is wrong. Way wrong. LOL
But I don't disagree that it is not for everyone. Not everyone has the risk tolerance to leverage and make their money work for them.