#1 Secret of the Wealthy
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10:53
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Dave Ramsey, "Pay Off Mortgage" Money Makeover - 7/10by 100huntley65,534 views
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Dave Ramsey's Life. Money. Hope. Part 1by kwirl82,495 views
2008-2012 how's that working for you?
SalamiLeg1 20 hours ago
@marxofacistmoderate1 true --- But for investing in the stock market, the transactions fees will probably be small.
sinnieleeonUtube 1 day ago
@sinnieleeonUtube - no, the bottom line is that if you borrow money to invest, your capitalization rate on that money borrowed has to exceed the the taxes and any other expenses paid on the investment AND the interest on you pay on the loan before it can return even a single penny.
marxofacistmoderate1 1 day ago
Bottom line is you have to invest your money in such a way that your return/profit is higher than the interest you pay to the bank on your loan.
sinnieleeonUtube 2 days ago
@manictiger
So yeah, if you buy the house in full, up front, you're an idiot.
Look up, "time value of money".
Debt is good if handled properly. Debt is bad if all you do is recklessly purchase liabilities. (Houses are usually liabilities, don't kid yourself.)
manictiger 3 days ago
@ComputerTrainer101
Not necessarily. A lot of properties lost their value from the ensuing crash. A property that was sold for $600k might sell for $350k now.
Why pay the mortgage on that? The house isn't worth $600k anymore! That's why the crash was so bad. No one wanted to stick around and they'd be stupid if they did.
manictiger 3 days ago
@dxvxvx
He's right, though. Why would the rich pay off a mortgage on a property that isn't worth as much any more?
They'd sell the place, pocket the change, let their credit score take a dive and reinvest the funds.
All that defaulting means is that they can't take out loans. If they've got millions to invest, then they're going to use that immediately instead of trying to dick around with their credit score for some measly leverage.
manictiger 3 days ago
Unless you can get a guaranteed rate of return on an investment that exceeds the amount of interest on your mortgage, paying off the mortgage is smarter than investing. When investing, you can lose money when paying off debt, you are guaranteed to save the interest that you would have paid if you didn't pay it off. Always go for the sure thing! It's scary to see that people are listening to this guy. What awful advice!
ComputerTrainer101 1 week ago
Debt free is the only way to live! Having a mortgage and wasting money for a tiny tax deduction is stupid advice. You lost me as a fan Rick- BAD ADVICE
brejniak2008 2 weeks ago
The bottom line is this in any mortgage your assets which eqyal income and investment potential, albeit illiquid equity, is locked and tied up in inaccessable vehicle called a mortage which could have been being used to create more wealth not debt security.
some1caresforu 2 weeks ago