It is a view that has consistently proven to help build net worth and provide a measure of financial security for your family and your self. My grandmother outlived my Grandfather. In the last 2 years of her life she was in poor shape and had to have 24 hour live in help. She had no debt, and had enough saving and investments to pay for her care without touching the principle of the investments. Her final years were as comfortable as possible, with dignity, and in her home with friends and family close by, and not in a nursing home.
I really don’t think some of these people get it. They try to explain they can borrow at 5% and invest at 10%. They don’t seem to realize they can eventually save investment capitol and earn that total 10%.
Instead of living in an apartment with no equity, I’m living in a house with no mortgage and the lawn needs cutting. I might as well do it before it gets too hot.
I forgot to mention. I still pay a “Mortgage”. Since I paid off the house, the exact amount I used to send to the mortgage company now goes straight into my savings account. I pay myself that “mortgage” every month.