Reply to Where are all the high income folks?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Where are all the high income folks? why is every comment on here 5k a month is too expensive for a mortgage, we would never lease a car, this is middle class no that is upper class etc etc

This is money & finances, shouldn't there be, you know, people with money?[/quote]

[b]There are an abundance of people on this forum who don’t understand how to use low interest debt to their advanatage[/b].  That doesn’t necessarily correlate to their income.

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it blows my mind.[/quote]

Let me blow your mind even more. You ready? I have no mortgage on my primary home. This does not be I have not leveraged my money. I think you are very linear in your thinking.[/quote]

Different poster here. Sure I can imagine scenarios where your situation of no mortgage and leveraged investment could have happened. But in the low interest rate environment of the past few years, it'd be pretty illogical to not take advantage of a loan backed by a primary residence. What other funding source for leverage gives you superior rates?  We are carrying something like 3% on our primary residence.

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I purchased the house 10 years ago for 480k at 15yrs when my income situation was dramatically different. I have 3 kids all deeply ingrained in the community, a large enough home, and no desire to move.  I didnt care to have the hassle of a mortgage. I already have so many complicated tax gyrations going on, the amount of advantage I get from that is really just noise. I have trusts,  do tax loss harvesting,  and have much leveraged and really didnt need to be bothered with a 300k+note. I also dont lease or finance vehicles. My CPA has many tricks to keep me paying as little in taxes as legally possible. [/quote]

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