If you have a mortgage, you are not rich

I have been very diligent in social media over the past few years.

And one of her saw that everyone wants to walk about a virus with another controversy take ruffles feathers.

You have actually been achieved by healthy conversations (or maybe negative), so that is often a goal.

One latest Twiet I found that, “If you have a mortgage, you are not rich.”

This is clearly this is a challenge for people to argue. But really is true? Or are the rich tons of rich people with her?

The rich people love loans

Without getting the weeds in this, because me, I am a good weight to take, argue that people are richer than “wealthy” have the dead.

In other words, you may have a mortgage if you are rich.

Allow me to explain. First, the rich people may be homeowners than employers.

And if you own the house, you have the chances of being mounted as you buy a home for a home is not a reality.

Or possible, ultra-richy is still not seeking a large chunk of money from the equipment that is not in one family.

Why? Because the chances can get more money on one place elsewhere. The Real Estate may not be the best money they can do, but that’s what is good. And they get to live with it!

The rich knows that putting your money to work for you better than working really.

Just ask Warren Buffett, who said aloud in 2013 that “Today is a date for a mortgage.”

What he had to say was a loan debt than good credit, and in the amounts there at the time of every time, it was a wonderful time to find one.

A good, cheap credit can save decades

He also added that he had to last for a long time, 30 years in the 30-year story was repaired.

So those claimed to buy only a home if you were able to pay for 15 years. Like Dave Ramsey, you may have played a small ball.

When people owe the debt and say to pay the loan as soon as possible, Buffett was the opposite.

For the last time I checked, very rich. Maybe not a rich person worldwide, but the best – 10 world is easily. He doesn’t hurt.

In this record, he again released 30 years loan back in the 1970s of the Demon in Laguna Beach, and in 2017 it is still.

At that time, he made fun of that the only home loan had “fifty years,” it is limited to reduce the loan at a time.

But the seizure is clear; He took out the loan even when he didn’t have, and did not pay before the program even if he could do it.

Buffett is not alone or. Check Mark Zuckerberg loan (# 3 in the list of thousands) or Best Ceinicé and Jay-Z’s Revenue.

Long short story, rich love patches because they are cheap credit methods with excellent ideas (related to other loan) that is easy to find!

[Renting vs. buying a home: 55 pros and cons to consider]

If you do not have a loan, you maybe a employer

Let us now consider the other side of the story. One person without a mortgage.

Yes, it can be a homeowner paying for their loans, which is a good bond and nothing to change.

Especially if they are close or retired, and I do not want another debt hanging on their head.

But the loaner is likely to be a employer, someone who has no ownership in their property.

So in the first statement that if you have a mortgage, you are not rich, I call BS.

In particular, we know that householders have more wealth than employers.

With the Federal Reserve, the Median Median gap between the households and employers are about $ 390,000 from 2022, and the standard gap was $ 1,370,000.

This is because the rich people have a way to buy houses and earth. But it is because the houses for sale produces great wealth.

In other words, taking loans is a good way to get rich.

Just make sure that you can pay a monthly future fees and have a worn to keep the property of long walls.

If you do, you will be well rewarded, even if you have a mortgage. Oh, and that mortgage means you can free money on another investment, borrowing from better separation.

Learn to: Am I owned by my home if I have a mortgage?