The point being made is good though.

Owing no one anything is incredibly liberating. It changes how you behave and what you are risking.

Sure, I’d be richer on paper if I had kept the first house and rented it out, buying the second house with debt. But the worry and hassle and was my concern and I’m far happier. Perhaps 20 years from now my position would be different.

Paying your mortgage off comes with no risk, it’s not going to come back again. Meanwhile your investments could collapse tomorrow.

If my federal money market account at one of the largest, most respected financial institutions in the world collapses, I don't know that the piece of paper saying this house belongs to me is going to be worth all that much anyway.

> […] then you are making money from the bank.

Yes, that is the mathematically correct answer.

I mean there are other factors right? How long the rate is fixed for, penalty for paying off early, what you think the rate will be after term is over, you and your family's circumstances etc.

Just to reiterate the point the person above you made, but in far simpler terms: independence can be far greater return on your personal well-being then maximizing gains. I'm willing to "lose" out on $50-$100k over the lifetime of my mortgage in exchange for never needing to make a payment on the house again

The gov and insurance company will still want their taste. I think my escrow portion is probably at least 1/5 of my mortgage payment.