Hi all!
First time poster, long time reader.
I know this has probably been discussed at length in various ways, but i am curious if the current timing of the market adds any layers to the discussion.
My situation is that we put 5% down on our house and got a mortgage for the remaining 95%. Interest rate is 4%. With our current income we would be able to reach 20% (or 80% LTV, whatever) by summer of 2017. It seems like it would make sense to throw all extra money at the mortgage until 20% to eliminate PMI which is about $90/month.
The other side of the argument is that I still haven't begun investing aside from retirement accounts and want to take a few thousand and open up a vanguard account. I think that psychologically, it would be beneficial to have investments out there that i can always be contributing to as i am saving money through frugality. But on the other hand, according to P/E, it seems like the market is a little on the over valued side and maybe it could be worth it to wait until the summer to get into the market anyways.
Any thoughts are appreciated.
Thanks all