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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][quote=Anonymous]I've never understood why it is considered "dumb" to pay off a mortgage. Not everyone is good at investments or following the stock market. If you have a mountain of cash doing nothing in a bank account then pay your mortgage off.[/quote] If you're that financially simple-minded, maybe so. I suppose mortgages are something even they can understand.[/quote]Being simple minded has nothing to do with it. Plenty of financial advisors, Wall Street experts and business professionals have lost all their money and ended up broke in the past. There is nothing wrong in playing it safe.[/quote]
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