My simple thinking is let’s say you have $25,000 left on your mortgage with a $600 monthly payment and also $25,000 that you want to invest. In this instance I say pay off the mortgage, thus ending your $600 monthly payments. One couldn’t expect a $600 monthly return on investing that, so I feel it’s a no-brainer.
Burgerwars
@Burgerwars
I’ll gladly pay you Tuesday for a hamburger today
1612
Reputation
957
Posts
18142
Profile views
1
Followers
0
Following
Posts made by Burgerwars
-
RE: depleat savings to payoff/pay down mortgage?
-
RE: Best type of (Vanguard) mutual fund for young adult, that will probably withdraw for a home within 10 years?
One more tidbit: There are always ETF’s (exchange traded funds). The minimum to buy is one share (varies). They’re bought through brokerage accounts. Individual brokers (Schwab, Fidelity, E-Trade, Vanguard, TD, etc.) have their own groups of ETFs with no brokerage commission. If you buy them through Robinhood, all ETFs that you’re able to buy there should have no commission.
-
RE: Best type of (Vanguard) mutual fund for young adult, that will probably withdraw for a home within 10 years?
There are also plenty of low-cost stock and bond index funds you can buy at Schwab. Some of these Schwab Funds have investment minimums at $1. Maybe worth a look at. I do own some.