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Live Mortgage Free or Invest?

Discussion in 'Personal Finance' started by famousbrownbear, Feb 3, 2019.

  1. famousbrownbear

    famousbrownbear New Member

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    Would you rather pay off your mortgage or invest? For me, my rate is so low on my mortgage. Mortgages go to $0. Investing has upside. Unlimited upside. In market downcycles, I might think about prepaying my mortgage.

    There are definitely some huge advantages to living mortgage free. You likely don't need to keep a job haha. What is everyone else's take?
     
    TomB16 likes this.
  2. ElectricSavant

    ElectricSavant Active Member

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    Mortgage Money is cheap money. Treat money like its a tool.
     
    TomB16 likes this.
  3. Stoch

    Stoch Active Member

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    Ditch the mortgage, you will be surprised how much money you have left when you have no debt draining the account monthly
     
    TomB16 likes this.
  4. LanimcIntyre

    LanimcIntyre New Member

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    It is good to pay your mortgage.
     
    TomB16 likes this.
  5. Erik

    Erik New Member

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    I had the chance to pay mine off and I didn't. I lost that money when the market went south at the end of 2018. If I had held onto the 1200 shares of ROKU I sold at $40 I would be speaking differently.
     
  6. LanimcIntyre

    LanimcIntyre New Member

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    Investing ensures present and future long-term financial security.
     
  7. LanimcIntyre

    LanimcIntyre New Member

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    Time allows you to take risks. Typically, when it comes to investing ventures that are more volatile. One of the best ways in investments like stocks and bonds. The best option is to invest in a factoring company that provides a good position in the market.
     
  8. TomB16

    TomB16 Active Member

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    It's been a long time but I remember switching from saving to paying my mortgage. It was a black hole for money kept me penniless for a few years and then I turned into a financial 800# gorilla.

    All of the big things I started doing, back in the day, were enabled by having a big asset to use as leverage and a whole lot of cash flow. That's how I got into commercial property.

    Of course, my days of taking risks are over, I hope, so my outlook is different.

    These days, I look at it as +/-.

    If my mortgage is $1000 and I can either pay off the mortgage or buy a REIT which would pay me $1250 for the same amount of money, I would plow money into the REIT. I also set up a DRIP. If I were to ever lose my job, I'd turn off the DRIP.
     

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