Pay down Mortgage or invest?

Discussion in 'Financial Forum' started by Anonymous, Dec 14, 2005 at 8:41 AM.

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  1. Anonymous

    Anonymous Guest

    Life is good with a paid off mortgage. My monthly expenses are now only living expenses and I have so many more options with the significant cash flow.

    My guess is that those that are on the invest versus pay off side are those that don't have the money in the first place to pay off the mortgage.
     

  2. Anonymous

    Anonymous Guest

    The borrower is slave to the lender......nuff said.
     
  3. Anonymous

    Anonymous Guest

    Question for I love America:

    I thought you were banned? I see that you are now on modmo status. Impressive.

    So how were you able to manage that feat?

    Signed,

    Interested conservative anon
     
  4. Anonymous

    Anonymous Guest

    Sorry, ILA, I guess you are "banned" again! That is a complete injustice. I read the poli board and enjoy the banter between both parties. And, I'm a registered democrat. Hopefully, you'll be back again.
     
  5. Anonymous

    Anonymous Guest

    Kind of fun to go back and look at previous posts from a few years ago as that's the last message I've posted on here. Rewarding to look at progress. So, from 350K in 3/11, I've just eclipsed 500K in my retirement accounts. About 18 months ahead of schedule. That's exciting. 70K liquid savings on top of retirement/college (50K). So, ret acct, college acct, savings puts me at 620K. Little bit under 200K on mortgage. Backed off on triple payments as I refi'd at 3.5% fixed. Will make extra payments here and there. Again, about having balance.
     
  6. Anonymous

    Anonymous Guest

    It looks like this moron demonstrated that he is the one that is financially challenged. He was all giddy about a 5.5% mortgage rate. Meanwhile, rates have dropped on loans to much lower levels, with adjustable rates following the drop.

    With the fed pumping huge $$$ into the system, the rates are likely to stay low for awhile. In fact, some see us heading down the path of Japan.

    Do yourself a favor and just pay off the mortgage. Those with paid off mortgages typically avoid all debt and have a much more stress free life. Without this debt, it is easier to handle bad economic times and you have the cash flow to do much more.
     
  7. Anonymous

    Anonymous Guest

    A paid off mortgage has a 0% non-adjustable interest rate. I will take that over any of the other choices. Pay off the mortgage & a lot of stress will dissipate.
     
  8. Invest!

    A mortgage is a set rare loan. The payment stays the same for the term of the loan unless one changes the term of the loan.

    Do not do stupid stuff like live below your means. Increase your means so you can afford what you need and what you want.

    Making money is based on bringing in additional income. Saving money does not increase your income. Focus on bringing in more money. Savings is great. But do not expect to be rich based off of savings alone. Make more money and then start saving.
     
  9. Anonymous

    Anonymous Guest

    Update: 610K retirement, 70K college, 25K savings, down to 120K on mortgage. Put some liquid cash towards mortgage, wasn't getting anything in savings, and didn't want to invest more in markets at this time. Trying to have balance in my plan. Feeling good. 37 y/o, hoping to be mortgage free by 40.
     
  10. Anonymous

    Anonymous Guest

    are you loaded up with pharma and biotech stocks? the road to profit these days... insy, gwhp, akrx, abbv, or just a plain utility stock and sleep well. electric, gas, water, pipeline... you can do better than prepayment of mortgage. i can pay off the mortgage...sell the house. rent an apartment and invest the rest.
     
  11. I think conservatism is the best policy so paying off mortgage fits that.
    Especially when the stock market is overvalued.
     
  12. anonymous

    anonymous Guest

    Pay off the mortgage. If it bothers you down the road, you can always take out a new mortgage. There is nothing like the feeling of not having any payments.
     
  13. anonymous

    anonymous Guest

    Update: 698K retirement, 88K college, 45K savings, 229K mortgage. Upgraded house. Value approx 500K. Plan is to have paid off by 45. 39 currently. Fun to come here every year or two and look back at progress.
     
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  14. ru21night

    ru21night new user

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    If you have extra money, you might be able to have it applied toward the principal portion of your mortgage. If you pay an extra $100 on the principal each month, it could shorten your payoff by years and save you a lot of interest. Try reading the Total Money Makeover by Dave Ramsey. He also has a radio show. He is on XM and Sirius and some local stations.