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For most middle class Americans, the major expenses are children’s college education and mortgage payment on the house that is home. These are expensive but very worthwhile investments. You spend your life paying for the principle and interests on money you borrowed for these purposes. Last year I finished paying for the college expenses for my three children. This month I fully paid for my mortgage on our home. Thus, to start with essentially zero net worth to the current state of enjoying the good life and debt free! It is a good feeling.

By the way, currently in the US the country is embroiled in the scandalous information that our current President paid zero or only $750 in taxes for the past 18 years while owing some 400 million dollars of debt to unknown foreign sources. But that is another story and scale of money I am not personally concerned with.