Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "If you make 500-600k range and are married with kids"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous][quote=Anonymous]We don't have a mortgage. Why do so many with such high incomes have a mortgage?[/quote] +1 A lot of Americans think in terms of how much minimum payment they can afford. Like, the most minimum payment I can afford on my house, car, etc. they don't think of the big picture. This sort of thinking reaches into even the upper income people.[/quote] I consider us pretty frugal. We "only" make $300k and the PITI on our $700k house is $3600/months on a 15 year mortgage at 2.5%. We have 13 years left and will be 50 when its paid off. Even if our income suddenly rises to $500k (unlikely but not impossible) we would not accelerate our mortgage. The rate is too good and it will already be paid off well before retirement. Any extra funds would go straight to savings/investments.[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
