Do people in multi-million-dollar homes typically pay off their mortgage ever?

[Anonymous]

Anonymous wrote:We bought our house in cash. Along with all our cars. And we don't have any debt.

Seems like a dumb strategy. My mortgage is 1.69% interest still. I would be a fool to pay that off.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We bought our house in cash. Along with all our cars. And we don't have any debt.

Seems like a dumb strategy. My mortgage is 1.69% interest still. I would be a fool to pay that off.

DP here. We bought our house at age 36. It will be paid off when we are 51 just by making normal payments.

[Anonymous]

Ours only cost 700K when we bought it, so not everyone living in a multi million dollar home has a huge mortgage to begin with. Our mortgage rate was lower than our current savings account return, so we didn't pay it off early, but it was never a burden.