Things mentioned in thread. Real estate, stock market, even several low risk

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Jan 20, 2020
3:22:19pm

bluecougar1985 All-American

Things mentioned in thread. Real estate, stock market, even several low risk

bonds could produce a better return. Personally, if I were in your situation I’d pay off the house, even knowing that I could make more money elsewhere. By the sounds of it you won’t be hurting for money either way, and if you prefer low risk, paying off the mortgage is low risk.

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bluecougar1985

Bio page: bluecougar1985
Joined: Dec 10, 2015
Last login: Apr 26, 2024
Total posts: 15,565 (1,559 FO)

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Messages

Author

Time

What’s CB collective thoughts on paying off your home early?

SlantRoute

1/20/20 3:12pm

I'd buy rental real estate but I get your mindset.

mulletino

1/20/20 3:13pm

Nothing feels so liberating as owning your home outright. I would not take

Ycrazy

1/20/20 3:15pm

315k invested in the stock market will make more than paying off your home.

Baron

1/20/20 3:15pm

Assume I have zero knowledge on the stock market...

SlantRoute

1/20/20 3:17pm

You actually might be better off. Low cost index funds all the way.

JJCoug

1/20/20 3:21pm

No it doesn't. Get an advisor with vanguard or fidelity or a simple target date retirement fund.

Baron

1/20/20 3:22pm

You could just buy an index fund and forget about it. Don't have to know anythin

Triznaynay

1/20/20 3:22pm

This. Cash flow now vs earnings.

Grit for Brains

1/20/20 3:18pm

Or not. Timing is everything. Buy low sell high .. absolutely

Big Daddy D

1/20/20 3:26pm

As a low risk individual I think you’re fine to pay it off. If you

1/20/20 3:16pm

What are the long term options?

SlantRoute

1/20/20 3:18pm

Things mentioned in thread. Real estate, stock market, even several low risk

1/20/20 3:22pm

We did it and I like the feeling of being debt free. Am I going to regret

N8Dawg

1/20/20 3:18pm

Pay it off. If you don’t like it, you can go get another mortgage.

ovalY

1/20/20 3:41pm

Do you itemize or take the standard deduction?

cougarfann888

1/20/20 3:18pm

I itemize.

SlantRoute

1/20/20 3:20pm

Remember that if you no longer have your home interest, you may fall below the

cougaman

1/20/20 3:35pm

Especially if you double pay tithing.

Acorn

1/20/20 5:47pm

Yep. If you are paying enough state taxes/property taxes/interest then the

cougaman

1/20/20 5:57pm

Here is how I would look at it....

whiteninja

1/20/20 3:23pm

We've been paying ours down like crazy and will be done next December.

O Gaucho

1/20/20 3:24pm

We did it... fully realizing it was not the most prudent decision purely from an

1/20/20 3:25pm

If you can . . .

2FarGone

1/20/20 3:27pm

I paid mine off 15 years ago.

tevye

1/20/20 3:29pm

I don't pay down my mortgage because I don't care much about things. And my

JAGA97

1/20/20 3:33pm

If you can, do it in a heartbeat, even if it doesn’t make financial sense.

UNLVcougar

1/20/20 3:35pm

You will never get back the 8%+ annual averaged returns on that $300k if you

Ash

1/20/20 3:35pm

What safely and predictably yields 8+% these days?

SlantRoute

1/20/20 3:51pm

Nothing safely returns at that yield. But VOO or any index fund that tracks

Ash

1/20/20 5:22pm

Split the middle...pay down to about $100k left on the mortgage, invest the...

CougaReb

1/20/20 3:45pm

For the people who say you should not pay off early because you get better returns investing that money, do you

slappy

1/20/20 3:53pm

Make minimum monthly payments on interest rate barely above inflation. Make enormous returns elsewhere.

mulletino

1/20/20 3:56pm

I'm a wimp when it comes to these things. I know it would make sense, but I just don't have the guts

slappy

1/20/20 4:02pm

Not a bad thing.

mulletino

1/20/20 4:06pm

That’s because you are feeling the risk element missing from all interest rate

ovalY

1/20/20 4:29pm

I built my home in 2001...

CoachSpeak

1/20/20 4:22pm

I love this quote from Pres. Hinckley about James E. Faust.

O Gaucho

1/20/20 4:32pm

That is exactly why I posted what I posted above. That talk from Pres. Hinckely

UNLVcougar

1/20/20 4:47pm

Here's another "ears to hear" quote by President Eyring

Doozy

1/20/20 4:50pm

Except that if my liquid investments exceed the remaining loan balance my

Ash

1/20/20 5:26pm

Unless it is in cash, there is risk the investment would fall below the balance

ovalY

1/20/20 5:31pm

How is that different than if your primary home value falls below the original

JAGA97

1/20/20 6:37pm

If the value falls after paying it off you still don’t have a mrtgage.

ovalY

1/20/20 6:49pm

But we are talking about financially prudent people here who have ways of

JAGA97

1/20/20 7:29pm

Do what you like. Everybody tolerates risk differently. G

ovalY

1/20/20 7:46pm

I have chosen to leverage my money via passive multifamily investments.

CougarThug

1/20/20 5:10pm

Nothing wrong with splitting the difference and saving some money

KSwiss

1/20/20 7:26pm

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