In this video, we go over the best way to go about where to put your excess cash when you have an existing mortgage. What is the …
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In this video, we go over the best way to go about where to put your excess cash when you have an existing mortgage. What is the …
source
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23 comments
What's your current mortgage rate and are you considering paying off your mortgage early or investing? PS: Be aware of the spam/scam comments in the below comment section. I just purged a bunch, but there will inevitably be more that pop up. If theres ever a comment with a lot of likes but they're referring you to some random person's name and promises of returns…its a scam.
Why not do both?
Saving 200k on interest payments by paying off the house early is equivalent to making 200k on investments.
Rule of thumb is if you can find an investment that appreciates or earns more than the interest you pay on you home loan then go for it. Otherwise pay down your loan.
I'm paying off my morgage early even with a low interest rate because without that payment it allows my wife to stay home with the kids.
Another point, paying off your mortgage will 100% guarantee you exactly what you are looking to achieve. Investing in the markets HOPEFULLY will work out long term so long as you are in the right investment vehicle. Not saying investing isn't smart but maybe take the bird in hand…
Not at all comparable. If you pay off your house and get out of debt, you can decide to change careers and chose something you love that pays less money. I like to work every day so long as the job I am doing makes me satisfied and relatively stress free. The jobs I had that paid big money drove me to get out of debt and get peace of mind instead.
What about inflation, with debt inflation is making that debt less. Do we minus 4% per year for inflation?
Summary: investing is risky.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
One overlooked benefit of not paying off your mortgage: If the market drops catastrophically in your area, you can buy a house cheaper and just walk away like everyone did in 2008.
Wouldn’t making extra principals payments reduce the overall amount of payments left?? So is it even possible to make a $500 extra payment a month for 25 years in a 3p year loan possible?
I paid up all my mortgages in 2yrs while working with a Financial Adviser. I’m 50 and my husband 54 we are both retired with over $3 million in net worth and no debts. We got to realize that the secret to financial freedom is making better investments.
Mortgage rates are currently at an all time high since 2000(23 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
From paying for day care and college, to managing mortgage payments. I'm approaching retirement yet inflation is getting worse and recession is biting harder by the day. How can I generate more income to retire with at least $3m for long term care? I have about 750k in savings.
Pay off early. The roof comes first
Doing the Lord’s work! Great video
From paying for day care and college, to managing mortgage payments. I'm approaching retirement yet inflation is getting worse and recession is biting harder by the day. How can I generate more income to retire with at least $3m for long term care? I have about 750k in savings.
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Brooke Miller.
is it really shocking that you pay interest on the amount outstanding?
You look like Daniel Wu
You are forgetting to calculate in risk
I just turned 44 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 55. How best do I maximize my savings of over $400k