Mr. RooRoo and I read “The Millionaire Next Door” when it came out. We were already doing most of the things described in the book.
We were also doing Dave Ramsey stuff before Dave Ramsey was very well known (and I had never heard of Dave Ramsey): got rid of all credit card debt, paid off the mortgage, etc.
At the time we paid off our mortgage (almost 20 years ago) people looked at us like we were outer space aliens. NOBODY was paying of their mortgages in those days. Some people would say, “Well now you don’t have a interest deduction for taxes.” Who cares? We still saved ourselves from paying about $150,000 in interest, and we only could have deducted about one third of that on our income taxes.
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>> “Well now you don’t have a interest deduction for taxes.” <<
Could that be cuz you didn’t have to pay any?
Which is more? The money still in your pocket, or 20% of the money still in your pocket?
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