The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  https://boards.fool.com/for-many-years-i-was-stupid-and-thought-quotthe-29009990.aspx

Subject:  Re: How much is enough? Date:  1/6/2011  10:55 PM
Author:  RHinCT Number:  68121 of 97873

For many years I was stupid and thought "the mortgage deduction" was a wonderful thing. It was only after finally understanding that we were paying $1.00 (in interest) to save 30¢ (in taxes) did we get smart and pay it off. Not so amazingly, our savings began to accelerate immediately; we were saving an additional $15,000 a year.

I always like it when the standard deduction is a better deal than itemizing. It means I get to deduct more than my expenses would allow. Lower expenses, good. Bigger deduction, also good. What's not to like?
Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us