re: Debt vs investments

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It's not as simple as saying a 6% equity return is higher than a 5% interest rate.

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Not when one of the two is a gamble and the other is a certianty.

I feel the same way

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I know the percentages and numbers may work out better to invest, but I imagine feeling of being debt free is worth it

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That's your opinions, and others would rather invest that money. Neither opinion is wrong, it's just personal preference. I don't understand why all of these have to turn into a pissing match.

I do a hybrid approach. When the markets are high like now, I put the extra money toward the mortgage. If there is a crash/correction, I'll buy more stocks.

If someone goes the investment route, you still have the option of selling your investments and apply it to the mortgage. Hopefully in 15-20 years you'd have enough to pay the house off.

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I know the percentages and numbers may work out better to invest, but I imagine feeling of being debt free is worth it

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Generally speaking, it is. While the type of debt may factor into the debate (mortgage debt on rental real estate vs. an auto loan or a consumer loan to finance a "gotta have it now" purchase, for instance), one could easily find himself having to sell that asset or investment if things go pear-shaped at an inopportune time. You just have to recognize the risk in borrowing money on one asset in order to invest in some other asset. When you carry debt on one thing and invest in something else, that's essentially what you're doing. As long as you don't try to fool yourself into believing otherwise, and you're OK with it, all is well... until it's not.

And as you're pointing out, the negative psychological affect of knowing that you have debt is not good for many/most people's peace of mind. When stats talk about money issues being the root cause of most divorces, I'm pretty sure that those money issues are not related to the couple having too much money and too little debt.