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]
We are in a similar situation. We have enough liquidate-able assets to pay off our house or buy another one cash. But under current conditions, we would almost be losing money to put it in our house. When we get a bit older, though, we may pay it off. My dad paid off their house as they approached their 60s just so us, his kids, had one less thing to worry about.[/quote]

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