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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]almost rich folks I know have paid off their mortgages, regardless of their age or terms of the loan. They have plenty of $$ for investments, etc and the mortgage does not even make a dent on their financial plans. Value of the home does not represent a large part of their overall NW. However, the "aspiring rich" as many on this forum do not - they are just trying to get there. Most likely paying off the mortgage likely makes them house poor and leaves little $$ for other opportunities. [/quote]
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