60

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

posted
by
Avatar
Cat@ponder.cat
in
Avatar
asklemmy@lemmy.ml
32 comments
hidereport
Sort:
HotTopControversialNewOld
You are viewing a single thread.
View all comments View context
Avatar
Banana@sh.itjust.works
14 points

Paying that large of a chunk of a mortgage would absolutely reduce your future interest costs though.

permalink
report
parent
reply
Avatar
deegeese@sopuli.xyz
3 points
*

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

permalink
report
parent
reply
Avatar
yo_scottie_oh@lemmy.ml
4 points

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

permalink
report
parent
reply
Avatar
hedgehog@ttrpg.network
3 points

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.

permalink
report
parent
reply
Avatar
Banana@sh.itjust.works
5 points

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

permalink
report
parent
reply
Avatar
deegeese@sopuli.xyz
3 points
*

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

permalink
report
parent
reply
Avatar
wewbull@feddit.uk
5 points

…but wouldn’t change your life.

permalink
report
parent
reply
Avatar
Banana@sh.itjust.works
1 point

That’s completely relative. Literally anything will change your life, or nothing, it depends on your perspective.

Saying “it wouldn’t change my life” means literally fuck all to the people whose lives it would change.

Like good for you, I guess?

permalink
report
parent
reply

Asklemmy

!asklemmy@lemmy.ml

Create post

A loosely moderated place to ask open-ended questions

Search asklemmy 🔍

If your post meets the following criteria, it’s welcome here!

  1. Open-ended question
  2. Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
  3. Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
  4. Not ad nauseam inducing: please make sure it is a question that would be new to most members
  5. An actual topic of discussion

Looking for support?

Looking for a community?

Icon by @Double_A@discuss.tchncs.de

Community stats

  • 8.8K

    Monthly active users

  • 6.1K

    Posts

  • 327K

    Comments

Community moderators