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Mortgage - A Dirty Word?

I remember as a young child overhearing a couple talking about their neighbour in terms of pity, citing the fact that the said neighbour “had a mortgage”. Shock horror!

As a young adult I was somewhat intrigued to hear a respected businessman boasting of the fact that he had a million dollar mortgage.

If you have a mortgage these days you are guaranteed to have an asset as well which overshadows the said mortgage (unless it’s one of those “submarine” mortgages which prompted the GFC!).

The sensible use of debt has enabled the vast majority of the world’s richest people to become mega millionaires. “Debt” is a four letter word, but as long as it’s preceded by the descriptive “manageable”, it should be the sign of an appropriate responsible attitude towards money management.