Compare the interest rates.

May 6, 2015
10:13:53am

Mike Ross

In all likelihood investing in the 401K will win out. Easily.

There is something to be said for getting out of debt though, but on paper maxing out the 401K is the likely better choice.

Report problem with this ad

Mike Ross

Previous username: Tuffy
Bio page: Mike Ross
Joined: Feb 8, 2010
Last login: Aug 20, 2017
Total posts: 3,071 (340 FO)

Report problem with this ad

Messages

Author

Time

Finance people, should I refinance to 15 yr mortgage or max out 401k?

snowbird

5/6/15 8:55am

Between those two options, I'd max 401k

Linescratcher

5/6/15 8:57am

I agree with everything except the ARM

KingDave

5/6/15 9:02am

It really depends on your individual circumstances.

Linescratcher

5/6/15 9:09am

What rates are you seeing on ARMs today? The rates I see show 7/1 ARMs with

MantiCoug

5/6/15 9:29am

what you want is the Libor rate for a 7 ARM. it's like less than 1%

Mayor of Cougartown

5/6/15 9:38am

The LIBOR rate is right around 2%. But they obviously add a margin to that rate.

MantiCoug

5/6/15 10:34am

My I/O ARM during the past several years has been great! We would pay an extra

ByuMba90

5/6/15 9:41am

I agree on the ARM. They are great options. Also, depending on your tax rate,

Baron

5/6/15 9:18am

Max out the 401k and if you want to throw extra cash at it, make extra payments

titlecoug

5/6/15 9:10am

Max out the 401k

Baron

5/6/15 9:17am

Max out 401K

compcoug

5/6/15 9:57am

Not enough information to answer this question.

Biyamiti

5/6/15 10:11am

Compare the interest rates.

Posting on CougarBoard