Interest and rent are both dead money and it takes a bit of reckoning to decide which is the better option.
One inescapable fact is that if you pay the mortgage off then you are in a good place. I estimate that the rent I don't have to pay now is worth at least $500 extra in my pocket every week - TAX FREE. And this is regardless of the market value of my house. On Wednesday, March 31, 2021 at 6:33:39 PM UTC+8 Ajoeibin wrote: > On Tue, Mar 30, 2021 at 9:01 PM Martin Michlmayr <[email protected]> wrote: > > > > * o1bigtenor <[email protected]> [2021-03-30 15:02]: > > > > “Asset is a resource available to a business that gives it some form > of economic benefit in the future.” > > ... > > > There is no way to make money with it, generally, without selling it. > > > > > > Not a popular opinion but it does follow that above definition. > > > > I think you're equating "economic benefit" with "income". > > > > You *do* get an economic benefit from a house -- you get a place to > > stay which would normally cost $$$ to rent. > > > Hmmmmmmmmm - - - - it sounds like your mortgage is paid off. > If it isn't you are paying the bank for the privilege of living there. > If you look at the value of where you live over the last say 40 years, > you might see that your house value has been hugely manipulated > and its value really isn't what might have been in your price tag > but it does make you feel better when you look at those mortgage > payments. > (I can remember when mortgages were being offered at 19% and > there weren't a lot of takers. Many houses were defaulted to the > lendors at the time. That is also behind my definition - - - which I > do know is not popular but is more accurate than the quite rosy > view held by many. ) > > Regards > -- --- You received this message because you are subscribed to the Google Groups "Ledger" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/ledger-cli/a9c43750-e63d-4fde-bae0-28eafcb33333n%40googlegroups.com.
