Its not a binary choice
There is nothing wrong with having a mortgage - providing its for an appreciating asset. And there's no problem with a credit card providing it is paid off each month.
Cash in the bank isn't a good use of an asset. Inflation tends to erode its value away. especially if you are paying top tax on the income.
And if you die, you dont get to take your cash with you. So you may as well have had fun along teh way. And your estate can clear your debts with the remaining assets.,
Media Updates, page-14632
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