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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]I'm not sure your premise is correct. I think plenty of rich people don't pay off their houses. I am well off now due to an inheritance and am considering paying cash for a home. However, my financial advisors say that's a bad idea. That it is better to take out a line of credit or mortgage and invest the cash. Given that I pay them a percentage of my assets in my IMA, I am not sure I should be trusting that advice. But I do think a lot of rich people take advantage of mortgages and lines of credit.[/quote]
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