You may already be aware that interest costs on your primary home's mortgage are not tax-deductible. In simpler terms, you're obligated to use your hard-earned after-tax income to chip away at your mortgage debt.
Let's delve deeper into the challenges you are facing (I bet you are not even aware of this!):
1. To cover your regular monthly mortgage payments (per year ${annualPayment}, you'll need to divert a substantial ${averageIncome} of your gross income each year. Over the years, this accumulates to a staggering ${pretaxIncome232}.
2. Everything you earn for {typeA228} years would just go towards paying off your mortgage in full.
3. Astonishingly, it costs you an income of ${Per} for every $1 of mortgage you owe!
Now, ponder what this does to your ability to achieve financial freedom. How and when can you plan for other crucial needs, like retirement, when you are devoting {Of}% of your income solely to service the mortgage?
Here's the kicker: People think that having a higher income will solve this problem; while in reality, it makes it every more costlier because of the tax disadvantage.
Are'nt you intrigued to explore a more efficient method of paying down your mortgage?