The Dude
MuscleChemistry Registered Member
Silk and I are mid 30's. She has a pension and well... I may or may not... but retirement money aside... say you guys had like 100k in secured loans at abut 3% auto, house, property, whatever. You can afford your payments on your income, but it's TIGHT... and you get enough to pay off 50k. Do you pay them off or do you invest? Granted auto's are depreciating assets... well other than our trucks for some reason and property is normally appreciating but not always. I did some aggressive day trading back in the day and I was normally above a 10% ROR.. my issue is that I am going back to school. I may not land a job in the next few months or maybe I will... even investing that money comes with risk.. but paying off tangible property has much less risk as long as you secure it in trust.. which I will...
What do you guys think? I'd love to be down to nothing but the mortgage in the next two years which is a real possibility. That would also give us 80k in vehicle assets and another 30-40k for our place in TN. I will need to keep a mortgage on this property for tax reasons. Now that I own a home I can get creative in the write offs since I may be working from home for some portion of my time.
I would keep some money in savings for emergencies, but most would be in my Fidelity account. I'm trying to wrap my head around this as I feel like I'm being pulled in 10 directions.
What do you guys think? I'd love to be down to nothing but the mortgage in the next two years which is a real possibility. That would also give us 80k in vehicle assets and another 30-40k for our place in TN. I will need to keep a mortgage on this property for tax reasons. Now that I own a home I can get creative in the write offs since I may be working from home for some portion of my time.
I would keep some money in savings for emergencies, but most would be in my Fidelity account. I'm trying to wrap my head around this as I feel like I'm being pulled in 10 directions.