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Started By
Message
Pay off small condo or invest?
Posted on 1/11/26 at 6:30 pm
Posted on 1/11/26 at 6:30 pm
Payoff is 100k, it's a second home getaway kinda deal.
Rate is high, 7.85%
Rate is high, 7.85%
9
Posted on 1/11/26 at 6:41 pm to Billy Blanks
invest.
i have paid off an interest rate on a property similar to that before but the amount due was a tad bit less than half that.
when you get it to 50k or under then you can pay off if other things are how you want. jmo.
i have paid off an interest rate on a property similar to that before but the amount due was a tad bit less than half that.
when you get it to 50k or under then you can pay off if other things are how you want. jmo.
Posted on 1/11/26 at 6:42 pm to Billy Blanks
Invest is the better math.
Payoff brings peace of mind.
Whichever works for you best
Payoff brings peace of mind.
Whichever works for you best
Posted on 1/11/26 at 7:11 pm to Billy Blanks
At that rate, I’d just get it over with
Posted on 1/11/26 at 7:32 pm to kaaj24
quote:
Invest is the better math.
Paying it off could make sense IF you think the US stock market may revert to the mean.
Posted on 1/11/26 at 9:14 pm to kaaj24
quote:
Invest is the better math. Payoff brings peace of mind.
Invest brings financial / time freedom quicker…and as result much peace of mind.
Posted on 1/12/26 at 3:51 am to Billy Blanks
Pay it off.
Posted on 1/12/26 at 7:16 am to Billy Blanks
There’s a good chance you’ll be able to refinance the mortgage for a lesser rate with housing coming into focus with this admin, therefore I’d invest and refi when the time is right.
Posted on 1/12/26 at 7:42 am to Billy Blanks
Invest. I am curious to know about the posters who say pay it off, if they currently own rental property? It's just a curiosity without condemnation. I like learning how people make decisions about money.
Posted on 1/13/26 at 2:24 pm to BestBanker
quote:
Invest. I am curious to know about the posters who say pay it off, if they currently own rental property? It's just a curiosity without condemnation. I like learning how people make decisions about money.
I have rentals, but this isn't a rental. I wouldn't if it was a rental. Second home kinda thing, not STR is allowed where it is.
Posted on 1/14/26 at 8:20 am to Billy Blanks
quote:
Rate is high, 7.85%
this is why I would pay it off. That is obviously a personal preference.
The trick is, and where most people lose financial traction, is now you should save/invest/etc. that monthly payment. Having said that, I have no clue what your financial situation may be.
Either way, as I tell my family regularly.......this is a rich person's problem!! Congratulations and good luck.
Posted on 1/14/26 at 10:18 am to Billy Blanks
Can be a difficult decision. Are you confident that you will keep the $100k invested if you keep the mortgage? Will paying it off give you enough piece of mind to warrant it?
I went thru this decision on our 2nd home a couple of years ago. The math told me to keep the money invested. I went the opposite way. It was a significant amount. I do like the fact that it increased the percent of my wealth diversified from the stock market. A benefit of getting to a comfortable financial level is that it is easier to not make every decision based on the math.
I went thru this decision on our 2nd home a couple of years ago. The math told me to keep the money invested. I went the opposite way. It was a significant amount. I do like the fact that it increased the percent of my wealth diversified from the stock market. A benefit of getting to a comfortable financial level is that it is easier to not make every decision based on the math.
Posted on 1/14/26 at 11:42 am to KWL85
"A benefit of getting to a comfortable financial level is that it is easier to not make every decision based on the math."
--
A benefit of getting to a comfortable financial level is that you can make every decision based on math.....
--
A benefit of getting to a comfortable financial level is that you can make every decision based on math.....
Posted on 1/15/26 at 6:22 am to ItzMe1972
quote:Thisquote:-- A benefit of getting to a comfortable financial level is that you can make every decision based on math.....
"A benefit of getting to a comfortable financial level is that it is easier to not make every decision based on the math."
One of my business/financial mentors is absolutely Spock-like about fiscal issues.
He is now extremely comfortable.
Posted on 1/15/26 at 12:09 pm to ItzMe1972
How so? I bought a lakehouse with cash. Doesn't bother me one bit to know that I might have better returns by putting less money into it and keeping the difference invested. In my younger years, this would have been a more difficult decision. Now that I am much more comfortable financially, I don't worry about maximizing profit. I have enough.
Interested in your different perspective.
Interested in your different perspective.
Posted on 1/15/26 at 12:14 pm to KTiger85
quote:The discretionary income can now comfortably be used for further income maximization rather than worrying about protecting assets & maintaining lifestyle.
How so?
Posted on 1/15/26 at 12:54 pm to KTiger85
Sounds like we're both in a good place financially. I am on social security and still have a 3.25% mortgage on my house. I could easily pay it off, but prefer to keep it invested in technology stocks.
I worked for Silicon Valley companies most of my career and am very comfortable with that category and still find it exciting.
Rent houses cover my retirement needs and the stocks are lagniappe.
I worked for Silicon Valley companies most of my career and am very comfortable with that category and still find it exciting.
Rent houses cover my retirement needs and the stocks are lagniappe.
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