Reply to If you make 500-600k range and are married with kids

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[quote=Anonymous][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]

This is how the rich got that way and how they get richer. Take heed. [/quote]

Love this! Hen you have wealth you don’t need a to be debt free just using and investing wisely so your money and net worth grows. Perk of low debt is to be credit worthy. Never again will we need our credit  score , because we are be “loaning” our money. That’s how Banks make billions . For us, With the money we are not spending to repay them for our low 3.5% mortgage, we invest in corporate real estate. Most of ours  will be paid off in  less than 10 years and that rent will be income (tune of $20k a month). Paying off our house today will not pay us anything.

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