No outstanding debt reduces anyones claims to what I possess. I don’t pretend to know what might happen with the economy, but I am into minimizing any exposures I have within my power, and I did....
“No outstanding debt reduces anyones claims to what I possess. I don’t pretend to know what might happen with the economy, but I am into minimizing any exposures I have within my power, and I did....”
If that’s what gives you peace of mind, that’s fine.
But in these situations cash is king. Just about all other assets are going down in value relative to it.
And yes a mortgage is a claim on your house, but whatever cash you hold is also a claim on anything you may want to buy.