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Reply to "How much debt you have? Mortgage and student loans included."
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[quote=Anonymous]700k mortgage 13k on a car I bought for 50k.. I took a loan out at around 3% early 2021 with the intention of just paying it off over a very short period. Started aggressively paying it down and then interest on my cash quickly went above 3% and I went to the minimum. I know all you anti-debt extremists will scream about the interest im paying (probably paid less than 2000 in 3 years) but at a 2.25% delta between debt and savings rate, I’m making more in interest (which is then compounded) than I am paying on the debt. Sure, it’s a depreciating asset, but who cares? Cost to service debt is cost to service debt, the depreciating piece only speaks to risk of default/bankruptcy. Which is approximately 0. [/quote]
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