Bull or Bear??, page-68

QTess ,

So , are you saying that if you own a 500k house ( mortgage paid off ) now you are not more wealthy than when you bought it in the first place ?

Call it forced saving if you like but you are still wealthier .

Yes , there might be better , quicker ways to accumulate wealth . In theory it can be done but obviously for millions of Australians , paying off their house ( or a couple of them ) is the best way to achieve a bit of security ( or wealth ) in later life .