3 ms·
$10k a month is $120k a year which is around 20% of the stated income, and a significant proportion of it is paying down principal, which is to say, building we
by akgerber 7y ago
$10k a month is $120k a year which is around 20% of the stated income, and a significant proportion of it is paying down principal, which is to say, building wealth.
2 or 3 years of wealthbuilding at that rate is enough to pay for the median American house in cash.
- dariusj18 7y agoRight, but I'm not referencing the mortgage, I'm referencing the "other expenses" line item that the person I was responding to seemingly though could be accounted for with the expenses of having a home. But someone else pointed out that the figure reflects other things anyway.