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Reply to "If paying off your mortgage is dumb, why do so many rich people do it?"
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[quote=Anonymous][quote=Anonymous]People do many things that are financially unwise but somehow make their lives better/make them emotionally better off. Eg: financing hobbies that have no tangible returns (for kids or for themselves); buying luxury cars versus Hondas; taking a business class flight or flying private rather than economy and staying at 5 stars hotels versus Holiday Inn. Why would prepaying a mortgage or not taking out one in the first place be any different?[/quote] It’s not any different. What’s different is that you have some people here trying to make the case that you save more money and gets a better ROI by doing it.[/quote]
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