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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]Most people would call us. We have a paid off $3m home. Rich people are not stupid. How do you think we got rich? Of course we understand economics, leverage, opportunity costs, capital investment, etc. If you have the $$ it's liberating to pay off of the primary family home. [/quote] THis^^^ Then you are free to invest that money wherever you want to. Right now that money can earn a guaranteed 5%+ in CDs---$150K/year in cash guaranteed [/quote]
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