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re: Paying off mortgage
Posted on 6/25/21 at 6:35 pm to LSUisKING12
Posted on 6/25/21 at 6:35 pm to LSUisKING12
Pay off all your debt then invest
3
Posted on 6/25/21 at 7:49 pm to LSUFORLIFE
Make 10+% a year in an ETF. That will make you a lot more money in the long run vs paying off a 3% interest loan. You will also have an emergency fund by going the ETF route.
I'll use my current home loan (3.375% interest) vs using the S&P 500 yearly average gains (10%).
If I pay $500 extra a month, I save 35k in total interest. It would shorten my loan by 69 months.
If I bought $500 of SPY or QQQ each month for the same 171 months, I would earn 97K in interest.
I'll use my current home loan (3.375% interest) vs using the S&P 500 yearly average gains (10%).
If I pay $500 extra a month, I save 35k in total interest. It would shorten my loan by 69 months.
If I bought $500 of SPY or QQQ each month for the same 171 months, I would earn 97K in interest.
This post was edited on 6/25/21 at 8:13 pm
Posted on 6/25/21 at 10:44 pm to LSUFORLIFE
quote:
Pay off all your debt then invest
Bingo winner winner
Posted on 6/28/21 at 7:02 am to LSUFORLIFE
quote:
Pay off all your debt then invest
not if the debt is cheap.
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