Author Topic: Pay off mortgage..or keep cash to invest.  (Read 1749 times)

Shariff119

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Pay off mortgage..or keep cash to invest.
« on: July 17, 2018, 03:20:27 PM »
Hello all.  Long time lurker first time in the forum.  Need some advice.  500000 in cash .. different investments.  No other debt except mortgage.  Income.  Wife works but will be reducing hours (and pay ) soon.  I have a pension that includes healthcare.  With my pension ..healthcare...wife's soon to be reduced pay...we will do fine financially.  Should we take 160000 to pay off our mortgage that has 20 yrs at 850 amonth (5.2) interest.  Or.. refinance immediately.  Be gentle. this is very new to me.  Thanks!!


wjinghlw

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Re: Pay off mortgage..or keep cash to invest.
« Reply #1 on: July 17, 2018, 04:19:36 PM »
What is your mortgage rate currently?


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marty998

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Re: Pay off mortgage..or keep cash to invest.
« Reply #2 on: July 17, 2018, 05:13:04 PM »
How old are you? Are you close to retirement / taking your pension now?

Do you have $500,000 all in cash or all in investments or a combination of both?

Need a lot more info...

DreamFIRE

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Re: Pay off mortgage..or keep cash to invest.
« Reply #3 on: July 17, 2018, 05:36:17 PM »
What is your mortgage rate currently?

He said 5.2.

use2betrix

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Re: Pay off mortgage..or keep cash to invest.
« Reply #4 on: July 17, 2018, 05:53:06 PM »
At 5.2%, with how strong the market has been I’d lean towards saying to pay it off, especially if you’re older. A GUARANTEED 5.2% isn’t bad. Had it of been ‘09-‘12, I’d be singing a different tune.

There’s tons of arguments either way, but that’d be my safest bet with the limited information in your thread.

DS

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Re: Pay off mortgage..or keep cash to invest.
« Reply #5 on: July 18, 2018, 09:12:25 AM »

Taran Wanderer

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Re: Pay off mortgage..or keep cash to invest.
« Reply #6 on: July 18, 2018, 09:16:04 AM »
At 5.2%, with how strong the market has been I’d lean towards saying to pay it off, especially if you’re older. A GUARANTEED 5.2% isn’t bad. Had it of been ‘09-‘12, I’d be singing a different tune.

There’s tons of arguments either way, but that’d be my safest bet with the limited information in your thread.

Yes, this.

frugaliknowit

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Re: Pay off mortgage..or keep cash to invest.
« Reply #7 on: July 18, 2018, 01:49:07 PM »
If you are within 15 years of retirement/Fireing, yep, I'd pay it off in a heartbeat.