fwafwow
WKR
- Joined
- Apr 8, 2018
- Messages
- 5,549
This is correct. He also pushes paying off the mortgage because for the majority of people don’t benefit from having it and would benefit more from having that house payment used in a different way.
He has also done an extensive study on Milionairs and the majority of them say pay off your mortgage.
I would be interested in seeing his study on millionaires. In my experience, there isn't much correlation between aggregating wealth and having financial acumen. Also, if millionaires say pay off your mortgage, would the audience benefit in knowing that many millionaires (and wealthier folks) very often use debt, including on their homes? I'm not saying that Dave's advice about paying your mortgage is wrong, as many can benefit from taking that step. But just because some benefit from the advice doesn't mean that advice is right universally. I'm not calling for pitchforks, I just would prefer he explain the pros and the cons on various issues and then let the audience decide which is the best path.