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Real Estate
Reply to "s/o--so how did you afford a 2 million dollar home?"
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[quote=Anonymous][quote=Anonymous]22:40 - IF you have a financial advisor, you need to fire him yesterday. Of all the people I know in $2-$3m houses, NONE of them have mortgages. They have MANY different investments, their house is just one of them. Their money is tied up many different ways, some I have never heard of (all legal, as they are audited just like the rest of us). Its not like they can hand out money like candy, their money is tied up, committed and invested very prudently. You need to look into this for yourself. [/quote] I'm not sure I understand your post. We have a 1.2k house, not a $2-3k house. Frankly, we don't have enough money for MANY investments. We make about $290,000 and don't have much left over after all our expenses/bills. If someone doesn't have a mortgage how do they purchase a house? Also, the mortgage interest deduction is very beneficial, as are low rates.[/quote]
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