Reply to If you were to inherit $2 million, would you pay off the remaining $150k of your very low interest mortgage?

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Reply to "If you were to inherit $2 million, would you pay off the remaining $150k of your very low interest mortgage?"

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[quote=Anonymous][quote=Anonymous]To those of you that wouldn't pay off the mortgage, how many times in life do you spend money on yourself that you don't need to spend, like on an expensive vacation, jewelry or a new car? Those expenses are more wasteful than paying off a mortgage.[/quote]

+100

The whole "I'm more interested in optimizing my money" philosophy rings hollow unless you are extremely frugal in all other regards, which many on DCUM are not, as evidenced by all the "We make $350K but live paycheck-to-paycheck" threads.

This is just late-stage bubble stuff that happens after a 16-year bull market, and we've seen this before.  I've watched all of Berkshire Hathaway's annual meetings, and there are instances of Buffett in the late 90s talking about how unrealistic expectations had become, citing a survey showing that investors were now expecting to get 16-17% a year from the market based on returns from the early 80s through the late 90s.  And, of course, shortly thereafter, we began a "lost decade" for stocks.  How many people who inherited $1M in 2008 were likely eager to put it all in the market instead of using a small fraction to secure their family's home and eliminate their largest bill??[/quote]

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