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re: Net Worth at 30
Posted on 7/30/13 at 1:47 pm to Zach
Posted on 7/30/13 at 1:47 pm to Zach
No one said a mortgage isn't a liability. Of course it is. What you are hung up on is that if the asset value (home value) is larger than the debt (mortgage) the difference is considered as part of your net worth.
This post was edited on 7/30/13 at 1:48 pm
1
Posted on 7/30/13 at 2:02 pm to VABuckeye
quote:
No one said a mortgage isn't a liability
That's obviously a false statement. Let's go through it really slow:
1. You: "a mortgage is a liability"
2. Everyone: "net worth is assets minus liability"
3. Example: "I have ten bucks and a million dollar mortgage debt"
4. You: "Your net worth is ten bucks."
Conclusion: Mortgage is not a liability. Your No. 1 and No. 4 are contradictions.
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