Timeline for Overpaying or look to pay off mortgage
Current License: CC BY-SA 3.0
14 events
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| Nov 15, 2017 at 0:13 | history | edited | JTP - Apologise to Monica♦ | CC BY-SA 3.0 |
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| Nov 14, 2017 at 22:58 | history | edited | user3571487 | CC BY-SA 3.0 |
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| Nov 13, 2017 at 21:24 | comment | added | Joe Strazzere | So your plan is to have a paid off mortgage, but no savings in a year? That sounds like a bad plan to me. I'm not sure why you have so much money in savings earning nothing. Presumably there's a reason, and presumably that reason would still exists, but you wouldn't have the savings. What happens if a situation occurs where you need the money? In general, focus on saving for retirement, paying off all other debt, maintaining a sufficient emergency fund, and only then consider paying off a cheap loan like a mortgage. | |
| Nov 13, 2017 at 8:53 | comment | added | TonioElGringo | I don't know how mortgages work in the US, but if you were in Europe I would recommend to renegotiate a better interest rate on your mortgage. Then you wouldn't worry about paying it off. | |
| Nov 13, 2017 at 7:48 | history | edited | Dheer |
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| Nov 12, 2017 at 13:19 | comment | added | JTP - Apologise to Monica♦ | Yes. Ben's link. The question is fair, and familiar. But the answer goes off in 10 directions unless we have more details. A lot more details. | |
| Nov 12, 2017 at 8:59 | answer | added | TTT | timeline score: 1 | |
| Nov 11, 2017 at 20:07 | answer | added | Aganju | timeline score: 2 | |
| Nov 11, 2017 at 14:32 | comment | added | RonJohn | How much not "that much on interest"? Online bank accounts pay around 1.2% and CD rates around 1.5%. | |
| Nov 11, 2017 at 14:29 | comment | added | mhoran_psprep | Is that $45K all your savings? or do you have another pot of money for emergencies and other events? | |
| Nov 11, 2017 at 13:11 | comment | added | Ben Miller | Related: Oversimplify it for me: the correct order of investing | |
| Nov 11, 2017 at 13:08 | comment | added | Ben Miller | Are you investing for retirement yet? | |
| Nov 11, 2017 at 12:58 | review | First posts | |||
| Nov 11, 2017 at 15:56 | |||||
| Nov 11, 2017 at 12:56 | history | asked | user3571487 | CC BY-SA 3.0 |