Consumer debt is the same. Crazy how fast the public has changed on having debt. It was basically a sin for our great grandparents, and now its just a normal part of american life.
You are correct. I think, in the public arena, people have just lost touch if where that money comes from. On the home front, it was when Bush was in office that I first realized that the population is largely viewed as a way to recycle money back up the food chain and that national debt is no concern of either major party. Most folks happily obliged the expectation that we would just go out and blow the tax rebate checks.
I have 3 young kids, some of the stuff parents allow their kids to do makes my jaw drop. It's not the kid's fault if their parents suck.
I'm trying to have a house paid for by 38. We've got a credit card where we pay all the bills and groceries with, then write one check a month. We don't go to Disney twice a year and the beach 4 times a year, though.
We just recently paid off ours. Its a great feeling knowing you don't owe anyone anything and the freedom that comes with it.
This is what we did until I wound up selling my house for the move. Everything else I tried to keep paid up or on short term loans (6-mo free financing, etc.) at the worst.
I just want the peace of mind that comes with no mortgage. It's better to me than the 2 to 3 percent net gain over the invest vs payoff plan.
yeah i invest a lot more aggressively, so we are talking closer to 6-7 percent net gain for me with a 3.5% mortgage. not factoring in the interest deduction either. an extra say $2,000 a year at 6% for 30 years comes to $170k by math. of course you actually have to save that money rather than spend it.
I'm aggressive in my investments (wife finally got me to back off emerging markets....some) but the spread isn't worth it, and with new standard deduction it makes a lot less sense for a lot of people. I get why people do it, and I am disciplined enough to invest it. I just value the extra free cash flow each month after paying off mortgage and the freedom of being debt free more.
I agree that you shouldn’t stop investing to pay it off faster but 15% is enough then focus on the house. Can’t buy not owing anything so you can tell anyone to [uck fay] off.
People going nuts wanting white supremacists expelled from the military for doing the circle thing during the Army-Navy game.