Does anyone else feel like they overindex on this principle? I have on multiple occasions found myself too conservative to take advantage of the leverage available to me. (Example: doing a refinance in 2020 I could have taken out a 30-year mortgage at the rock-bottom rate, but chose to do 15. This is irrational given that I could have taken all the money I didn't have to pay toward the mortgage and even putting it in completely safe investments, come out ahead (even before considering the mortgage interest deduction).
I'm not saying I envy those leveraged up to their necks, but I think growing up in a family that didn't really have any money and did have a lot of the bad kind of debt made it hard for me to feel comfortable owing money even when it would probably be in my best interest (no pun intended).
Does anyone else feel like they overindex on this principle? I have on multiple occasions found myself too conservative to take advantage of the leverage available to me. (Example: doing a refinance in 2020 I could have taken out a 30-year mortgage at the rock-bottom rate, but chose to do 15. This is irrational given that I could have taken all the money I didn't have to pay toward the mortgage and even putting it in completely safe investments, come out ahead (even before considering the mortgage interest deduction).
I'm not saying I envy those leveraged up to their necks, but I think growing up in a family that didn't really have any money and did have a lot of the bad kind of debt made it hard for me to feel comfortable owing money even when it would probably be in my best interest (no pun intended).