So far, the family's joint portfolio at Nordea has received $2,030 in tax refund. The estimated tax refund for the same portfolio for all of 2023 is $2,818.
The tax refund for the aforementioned portfolio for 2022 was enough for more than 70% of our total interest expenses for the same year after the 30% deduction you are allowed to make in the tax declaration.
This year, the entire year's estimated tax refund is not even enough for the first quarter. If we add up all tax refunds and dividends and compare with the interest cost, it is absolutely not profitable to pay off our mortgage.
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