Currently, the margin rate for ibkr pro is 1.83%, and it will go up with every hike in interest rates. Most likely by the end of the year it will be closer to 4%.
With zero debt, you're in the minority of investors. Most people are carrying some kind of mortgage, car, student, or personal loan that will slowly kill their wealth with interest and inflation. I suppose in your case, buying cheap stocks is the way to go. For most others, getting rid of debt is best.
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