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re: Have some extra cash saved up thinking about paying off car
Posted on 5/16/14 at 11:06 am to roguetiger15
Posted on 5/16/14 at 11:06 am to roguetiger15
quote:
if your interest rate is low I would continue to pay it off monthly and build up your credit
This is also a good point. I own a double in Lakeview (live in one side and rent out the other). So far this has worked out great and I could really see myself buying another one in the future if I come across the right deal. Since this is the case, I know I need to have my credit score high (at ~705 now) and my cash flow up. However, I hate having all this cash just sitting there in my account and not doing anything. Now I might be even more confused I think I need to talk to my financial advisor
Posted on 5/16/14 at 11:09 am to Tigerstudent08
I am a FA. Look into franklin income fund fcisx. It's performed great, very safe and pays a monthly dividend. We use this fund a lot of people that need income but don't want to be in bonds. In your case I would just let it compound monthly.
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