Well, I think paying cash for things and being debt free is the best way to go. Even houses.
Interest paid to banks is just lost opportunity for more knives (or cars, or whatever). When we paid of the mortgage to the house, that was a good feeling, banks don’t own you, you are free at that point.
I work a good job and live in Texas so paying off my house in my 30’s was doable. If you live in a high tax state, move.
1 - don't get financial advice off internet forums
2 - don't finance hobbies
You’re (possibly) missing out on a deduction for mortgage interest. Also our property taxes here are INSANE.
Another part of the equation you’re forgetting is investing the money instead of paying down a mortgage or buying the house with cash in the first place.So for every $10,000 in mortgage interest paid he could save what? Maybe $2,500 in taxes? Pay $10,000 to get $2,500, that makes a lot of sense. Or since he has no mortgage he could pay $2,500 more taxes and keep the $7,500.
This just proves that greatness doesn’t necessarily mean perfection!Go for it.
The worst that happens is you go bankrupt.
Many famous US presidents went bankrupt, so you don't even have to feel bad about it if you do.