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Message
re: Mortgage re-finance question
Posted on 1/8/17 at 12:47 pm to quadfest
Posted on 1/8/17 at 12:47 pm to quadfest
quote:
. Is there any argument to be made to take that extra money (roughly $1500/month) and invest it in my vanguard account? I ask because having to waste that much money on interest on the mortgage drives me nuts,
Yes, I would pay extra on the mortgage , but you are not wasting that on interest, it is going to reduce principal
This post was edited on 1/8/17 at 12:48 pm
1
Posted on 1/8/17 at 1:05 pm to Tigerpaw123
".. but if I'm getting 8% return and my interest rate is 4.125, seems like it would make sense to invest it instead of towards the mortgage - unless I'm missing something."
That's exactly right.
Many people do not have the discipline to invest and wind up spending it.
Also your 4.125 may be more like 3% if you take into account mortgage interest deductions on your taxes.
That's exactly right.
Many people do not have the discipline to invest and wind up spending it.
Also your 4.125 may be more like 3% if you take into account mortgage interest deductions on your taxes.
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