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Money and Finances
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]Sometimes you just have "enough" in your investment/savings accounts, so why not get rid of that bill? My paid-off house is 12% of my net worth, so I don't worry about giving up potential returns or interest. The majority of my money is working for me in the market, and it's easier (for me) to ignore the inevitable ups and downs when I own my home free and clear.[/quote] This is fine. You set your priorities. Everyone doesn't want to maximize profit. My friend told me that she doesn't want to contribute up to 6% to her 401k and get the company match. She feels like she already has enough locked up in retirement accounts and would rather put that money elsewhere in case she needs it before retirement. Maybe another peace of mind thing. I guess she is fine missing on the match. I'm learning that everyone doesn't want to maximize profit.[/quote]
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