If you became an owner of 1KG of gold. How rich does that make you compared to the rest of the world?

Cat · 2M

If you became an owner of 1KG of gold. How rich does that make you compared to the rest of the world?

@deegeese@sopuli.xyz · edit-2 2M

Prepaying a mortgage is almost always a worse investment than anything else because mortgage interest is tax deductible.

Banana · 2M

Not always, but often, yes. It depends on what your alternative potential uses for the money are.

@deegeese@sopuli.xyz · edit-2 2M

Not always but often. You could even say almost always. 😉

@yo_scottie_oh@lemmy.ml · 2M

Isn’t mortgage interest deductible only if you itemize your deductions?

@hedgehog@ttrpg.network · 2M

Sure, but mortgage interest can easily be enough to make that worth it without any other deductions. With $300K principal and a 5% loan, that’s $15K - about the same as a single taxpayer’s standard deduction and roughly half of a married couple’s standard deduction.