Invest $ or pay off mortgage

Yelp
overmind

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overmind
2d 39 Comments

3.00% interest on 290k mortgage
Should I invest or pay off in full?
TC 300k

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TOP 39 Comments
  • Twitter
    ANjO62

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    ANjO62
    People will say that “money is cheap,” invest and make profits. I think that wealth starts from the point of not having any debts. A mortgage is debt and should be addressed first. I am not a financial advisor so I could be very wrong. But I prefer to have this peace of mind and not owe money to the bank. So, pay off debt (mortgage) as soon as you can. But don’t burn your emergency fund (I suggest keeping the money for 6-7 months of expenses in cash)
    2d 5
  • Intel
    user88384

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    user88384
    Pay it off and sleep at night
    2d 1
  • Meta
    public2

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    public2
    People voting to pay off mortgage...do you not think you cannot beat 3% interest over 30 years or do you just dislike money?
    2d 9
    • I also have a friend that chose to pay off his mortgage so he could deal with some family issues and not needing to worry about the stock market or losing his job. The text book answer is gains in the market beats interest rate, but life is often more complex than that. Unlike what blind portrays, money isn’t the only factor in our life’s choices
      2d
    • Meta
      public2

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      public2
      Risk is incredibly low over 3 decades. Its not really complex.
      Yesterday
  • Intel
    user88384

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    user88384
    No debt (regardless of the return for the short term) can make you sleep at night like debt free mind would. This peace does not have a $ equation.
    2d 0
  • Google
    iGoog

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    iGoog
    Well. Get some series I bonds first. When you can get guaranteed 9% why pay a 3% loan. I know this is not forever but you can ride on it while it lasts.

    That aside, it all depends on your risk appetite.

    I would personally keep any loans under 5-6%. If it's more I'd consider paying.
    2d 4