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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][quote=Anonymous]We are 58/59, own two properties and haven't had a mortgage in over two decades. I hated paying interest, when I could be investing that money instead of giving it to a bank. And not having that big bill every month gave us a lot of flexibility in terms of where we worked and how much we needed to earn. Basically, we semi-retired the day we stopped having a mortgage payment, because we could. [/quote] Well, I didn’t “semi” retire. I fully retire with a mortgage, and I was able to do that because instead of sinking all of my money into a house I invested the money elsewhere and made way more money that I would have saved by paying off the mortgage. [/quote]
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