Why Should I Get Out of Debt? Pt. 2

Some people are very good with debt and manage to amass large fortunes by using it. To those people I say “pay off your debts.”

I was listening to a podcast recently where George Kamel was trying to convey to the host why the end goal of money is not more money. While watching it, it looked like a movie scene where a loving family member was visiting someone in prison. All they needed was the glass in between and some old fashioned phones to complete the picture. The host of the podcast could not grasp that his side of the glass was the inside of a prison and George Kamel was on the free side. The saddest part was when the host convinced himself that he had made the right decision to not pay off his debts years ago. The framework of his mindset simply did not allow him trust what Kamel was saying and escape. 

I did a bunch of math and equivalencies on mortgages to see what I could find. What I found is that at the end of 30 years, with low interest rates, the person who didn’t pay off the house ended up with more money. 

So why am I still right with less money?

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