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My ARM is ending and I no longer live in my condo, so the best rate I can get for my mortgage with a refi is 4.5% I have enough cash on hand to pay off the mortgage. Right now it's liquid in my brokerage, but I'm not sure I can consistently beat that in the market. I can't find any bonds that come to close to that. to guarantee my rate. Should I pay off the mortgage, keep it all in the market, or go halfway? I have a lot (3x my remaining mortgage) already in stocks/funds and maxed out retirement.
https://forum.mrmoneymustache.com/investor-alley/investment-order/
Invest - my investment that I could pay off my mortgage with - its interest over the years will pay off the principal+interest while preserving my original investment. Mortgage payoffs are bad use of money
How do you invest? What do you invest in?
Donate all your excess money.
Define Excess.
Anything more than 10k
It feels better in the short term (for me) to pay off my loans a little quicker. But it's almost always a worse return than the market. I definitely have to fight that emotional decision when I'm choosing.
What is the interest rate for margin in your brokerage account? What is the upside/downside risk in the market relative to your mortgage rate? The answers to these two questions will answers your q
OP: did you ever take that loan? You would have made a fortune if you have invested
You don't have to beat the market. Just join the market and make 7.5% (which is higher than 4.5%). Sepately get a better rate, that's super high.
But I'm paying cap gains on the 7.5%, making it really 6%. It's because I own in a different state (and it's a condo). My ARM is expiring next month, so to refi I have to consider it an investment property. The original ARM was in the 2s
That's more how cap gains work but even if it were 6% is also greater than 4.5 :). Just refinanced a 30 year fixed to weeks ago in a different state under 3%. Shop around :)