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re: Pay $1,000 extra to house or invest?
Posted on 6/16/16 at 4:59 pm to barry
Posted on 6/16/16 at 4:59 pm to barry
quote:
So this is an important question, what would you do with the cash that you were spending on your mortgage once its paid off?
Invest and assist with college for children.
Actually this thread has been really helpful for me. I think I am going to go the route of investing the extra money instead of paying it to the bank. In 6-8 years I will have enough to pay off the house and pay for 2 of the kid's colleges (if the investments yield reasonably well). So it will accomplish the same task but the investment will allow me to have more money at the end than I would if I had just paid the bank the whole time. And of course, I would have liquidity in the meantime if something bad happens. I am going to probably seek a financial advisor to assist.
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