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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]All I know is that I refinanced my mortgage in November 2020, and, in real terms, my monthly mortgage cost has gone down 15%. Everything else is getting more expensive, my income is going up, my mortgage stays the same. Why would I pay that off when the real monthly cost of that mortgage goes down with inflation every year? Not that I expect 6-9% inflation to be a permanent feature, but still. Meanwhile, I can put the money in a liquid investment vehicle that at least keeps up with the inflation rate, and probably does better.[/quote]
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