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Nobody openly displays their paid off mortgage for the world to see. Isn't broadcasting it to the world the point of a status symbol?
Aren't there better status symbols than that?
I think Ramsey just wanted to get under your skin. Ignore him! You to will have a mortgage one day and can brag about that. I am being serious, that is a goal of yours that tiny home so buying that will be a Bada Bing for you!
I wonder with the new tax code and deduction changes if that impacts anyone's view on paying off ones mortgage faster vs. outside investments.
This always goes through cycles anyway.
If you want to treat your home as a leveraged investment then do so.
Certainly in the past year, you'd look really smart making a 30% stock market return instead of a 4% mortgage interest pay-down. Other times.....not so smart.
It's also a HUGELY different discussion when you go from areas where houses can easily get up towards 1mil and areas where houses are more like 250k.
The only change is you can only deduct up to $750k instead of $1M. With mortgage rates as low as they are, you don't need to be 100% in stocks to make it worth it. Year to year no one knows, but over the long run the market has easily returned more than 4%.
Just look at Daves recommended mutual funds, they will return 12% over the long run
We busted our tails paying our house off early. Took us 11 years, but got it done. The last two years before that, my loving bride was extremely burned out on her 29 year teaching career, so I told her to take retirement - we'd make do. 3 years ago, I was in a corporate sales meeting, listening to a egotistical CEO berating us - and she made the mistake of saying "Anybody that doesn't like it can leave". I got up and walked out - with no regrets. If we hadn't had the mortgage paid off, I'd have had to sit in the meeting and continue to listen to her... Two years later, I went on to SS, and frankly, we're having a ball.
That's the message Dave has that gets lost so often by those trying to show they're "smarter" than he is - it's a philosophy more than anything else. The man IS right - and for the vast majority of folks who simply lack the willpower to do it for themselves, his program can be a Godsend. My oldest son and his wife are on track to have their home paid off in two more years - he'll be 43. They're a single-earner household, and he and his wife have often foregone things for that lifestyle, but it's fun to watch them as they see the light at the end of the tunnel.
Nice. Paying off the mortgage gave you FU money - and you were able to do that. Congratulations!
I'm talking about F U Money in the context of a 1981 James Clavell book called Noble House. The #2 chica working for the corporate raider guy had amassed her F U money. A huge pile that would let her walk away from the game wealthy. I'm not talking about the metrics us "little people" use. Wall Street FU money is enough wealth to live in luxury the rest of your life. Bomb-proof wealth. Not the magical 4% rule to eke out a bourgeois existence on $100K/year of cash flow people talk about here.
Location: Formerly Pleasanton Ca, now in Marietta Ga
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Quote:
Originally Posted by GeoffD
I'm talking about F U Money in the context of a 1981 James Clavell book called Noble House. The #2 chica working for the corporate raider guy had amassed her F U money. A huge pile that would let her walk away from the game wealthy. I'm not talking about the metrics us "little people" use. Wall Street FU money is enough wealth to live in luxury the rest of your life. Bomb-proof wealth. Not the magical 4% rule to eek out a bourgeois existence on $100K/year of cash flow people talk about here.
But that $100k is all relative to ones personal expenses. Some might find it comfortable and others living quite well.
debt free is fine for some . others much prefer the feeling of having money being grown on other peoples money .there is good debt and there is bad debt . i have had no problem with good debt .
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Two years later, I went on to SS, and frankly, we're having a ball. 
