Cat@ponder.cat to Asklemmy@lemmy.mlEnglish · 5 months agoIf you became an owner of 1KG of gold. How rich does that make you compared to the rest of the world?message-squaremessage-square30fedilinkarrow-up160arrow-down11
arrow-up159arrow-down1message-squareIf you became an owner of 1KG of gold. How rich does that make you compared to the rest of the world?Cat@ponder.cat to Asklemmy@lemmy.mlEnglish · 5 months agomessage-square30fedilink
minus-squareBanana@sh.itjust.workslinkfedilinkarrow-up14·5 months agoPaying that large of a chunk of a mortgage would absolutely reduce your future interest costs though.
minus-squarewewbull@feddit.uklinkfedilinkEnglisharrow-up5·5 months ago…but wouldn’t change your life.
minus-squareBanana@sh.itjust.workslinkfedilinkarrow-up3arrow-down2·5 months agoThat’s completely relative. Literally anything will change your life, or nothing, it depends on your perspective. Saying “it wouldn’t change my life” means literally fuck all to the people whose lives it would change. Like good for you, I guess?
minus-squaredeegeese@sopuli.xyzlinkfedilinkarrow-up6arrow-down2·edit-25 months agoPrepaying a mortgage is almost always a worse investment than anything else because mortgage interest is tax deductible.
minus-squareBanana@sh.itjust.workslinkfedilinkarrow-up5·5 months agoNot always, but often, yes. It depends on what your alternative potential uses for the money are.
minus-squaredeegeese@sopuli.xyzlinkfedilinkarrow-up3·edit-25 months agoNot always but often. You could even say almost always. 😉
minus-squareyo_scottie_oh@lemmy.mllinkfedilinkEnglisharrow-up4·5 months agoIsn’t mortgage interest deductible only if you itemize your deductions?
Paying that large of a chunk of a mortgage would absolutely reduce your future interest costs though.
…but wouldn’t change your life.
That’s completely relative. Literally anything will change your life, or nothing, it depends on your perspective.
Saying “it wouldn’t change my life” means literally fuck all to the people whose lives it would change.
Like good for you, I guess?
Prepaying a mortgage is almost always a worse investment than anything else because mortgage interest is tax deductible.
Not always, but often, yes. It depends on what your alternative potential uses for the money are.
Not always but often. You could even say almost always. 😉
Isn’t mortgage interest deductible only if you itemize your deductions?