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Money and Finances
Reply to "If you make 500-600k range and are married with kids"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We don't have a mortgage. Why do so many with such high incomes have a mortgage?[/quote] Just answering for myself here -- my mortgage is at 3.5% fixed interest. When you account for the mortgage interest deduction at my tax bracket, the interest rate is more like 2.4%. Instead of using my excess funds to pay down this debt (and lock in a 2.4% real return), I have chosen (over the last 14 years or so since I took out a mortgage) to shove all of my excess funds into the stock market. It's beaten 2.4% by quite a wide margin. I am focused on building wealth, not just eliminating debt. [/quote] +1 This is how the rich got that way and how they get richer. Take heed. [/quote]
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