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re: Pay $1,000 extra to house or invest?
Posted on 6/14/16 at 8:59 am to poops_at_parties
Posted on 6/14/16 at 8:59 am to poops_at_parties
I actually am paying $1,000 extra on house every month. (3.75%) I want to be rid of the mortgage before my kids enter college and that is our plan. It all started to make sure we could sell and weren't upside down. It has turned into a great way to attempt to free up that money down the line. It is not what some would do, but it works for what my goals are.
1
Posted on 6/14/16 at 12:27 pm to statman34
quote:
I want to be rid of the mortgage before my kids enter college and that is our plan
I would rather have a liquid asset (e.g. college fund with $180,000+ for your kids or taxable account) in 15 years when they go to college instead of an illiquid asset and no money for my children's education.
Like someone said above, the irrational fear of debt outweighs the logic of investing and compounding. You're missing out on a substantial opportunity to build wealth by forgoing 15+ years of investing.
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