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I see all these posts on X about people paying off mortgages early being fools and yet debt is slavery. Actually paying off debt and saving is the path to freedom. Why do I say this? Sure if you have debt at 3% securing an asset that increases at 20% there is an argument that you can reach financial goals quicker with debt. But debt means your time isn’t your own, life is a journey not a destination.
2025-07-28 01:33:32 from 1 relay(s) 1 replies ↓
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In a world with no property tax, maybe. Failing that, you will rent for the rest of your life from the tax authority who rules over your "property", so the much better path is to do what wealthy people do and buy hard assets with borrowed fiat. I used to view debt as bad and longed to be free from its grips. When I changed my perspective to where the bank is the sucker for loaning me this fiat, its a game changer. Think about it this way: the fed owns 40% of mortgages, wrapped in mortgage backed securities. Which 40% do they own? The ones the banks don't want. The "hot potatoes" that were loaned during ZIRP. The banks collected an origination fee to provide a mortgage for sub 3%, then immediately sold to Fannie/Freddy because the bank would be on the hook for a "bad mortgage". So the lender of last resort now owns those, which means the owners of those mortgages are on the good side of the deal! The "equity" in your house is not an asset. Its an interest free loan to the bank. Take all the cheap fiat loans you can and extend them as far as they'll give you. Then buy bitcoin. Do this before the banks figure out bitcoin, because then they'll be doing this in reverse when fiat dies and bitcoin will be too expensive.
2025-07-28 14:31:36 from 1 relay(s) ↑ Parent Reply