What would you recommend as a way to invest that much money a month vs. paying down your mortgage. I am not eligible for Roth IRA and I am not experienced or comfortable with the stock market on my own. Just curious to see what other options I would have.

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Posted by Croacka

Denham Springs

Member since Dec 2008

61442 posts

Posted on 6/14/16 at 10:38 pm to statman34

Traditional IRA

And/or mutual funds

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Posted by barry

Location, Location, Location

Member since Aug 2006

50384 posts

Posted on 6/15/16 at 9:42 am to statman34

quote:
What would you recommend as a way to invest that much money a month vs. paying down your mortgage. I am not eligible for Roth IRA and I am not experienced or comfortable with the stock market on my own. Just curious to see what other options I would have.

Do you have a 401k at work? Are you maxing it out?

Stick it in an index fund if you aren't experienced.

I would definitely not be trying to pay off my mortgage right now. Interest rates can't get much lower, but they sure can go a hell of a lot higher.

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Posted by TexasTiger34

Austin, Kind of

Member since Mar 2008

11338 posts

Posted on 6/15/16 at 10:02 am to statman34

quote:
What would you recommend as a way to invest that much money a month vs. paying down your mortgage. I am not eligible for Roth IRA and I am not experienced or comfortable with the stock market on my own. Just curious to see what other options I would have.

like barry said, make sure you're maxing out your 401k and then whether you're putting the additional money into the 401k or an individual/personal investment account the safe bet would probably be an array of index funds as they have low costs and typically perform pretty well

This post was edited on 6/15/16 at 10:03 am

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