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SVTPerformance's Chain of Restaurants
Road Side Pub
Investing
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<blockquote data-quote="Logan2003Cobra" data-source="post: 15713631" data-attributes="member: 17851"><p>ALWAYS invest if your earned interest is higher than your borrowed interest.</p><p></p><p>Example:</p><p></p><p>$200,000 Mortgage over 30 years at 4.5% with a $1,013 monthly payment = $364,813 total or $164,813 in interest paid over 30 years. </p><p></p><p>$200,000 mortgage over 15 years at 3.5% with a $1,430 monthly payment = $257,358 total or $57,358 in interest paid over 15 years. </p><p></p><p>Keep the 30 year mortgage and invest the $417 every month that you would have paid extra to have a 15 year mortgage... $417 x 12 months = $5,004 per year invested. </p><p>- Starting with $417 at 9% return you will have $161,664 after 15 years, and after 30 years this will be $749,003. </p><p></p><p>If you do the 15 year mortgage and wait until it's paid off to start investing... $1,430 x 12 months = $17,160 per year invested. </p><p>- Starting with $1,430 at 9% return you will have $554,387 after 15 years. </p><p>- Even if you add the $107,455 extra paid in interest on the 30 year mortgage your net savings would only be $661,842 which is $87,161 less than investing $417 per month while staying with the 30 year mortgage.</p></blockquote><p></p>
[QUOTE="Logan2003Cobra, post: 15713631, member: 17851"] ALWAYS invest if your earned interest is higher than your borrowed interest. Example: $200,000 Mortgage over 30 years at 4.5% with a $1,013 monthly payment = $364,813 total or $164,813 in interest paid over 30 years. $200,000 mortgage over 15 years at 3.5% with a $1,430 monthly payment = $257,358 total or $57,358 in interest paid over 15 years. Keep the 30 year mortgage and invest the $417 every month that you would have paid extra to have a 15 year mortgage... $417 x 12 months = $5,004 per year invested. - Starting with $417 at 9% return you will have $161,664 after 15 years, and after 30 years this will be $749,003. If you do the 15 year mortgage and wait until it's paid off to start investing... $1,430 x 12 months = $17,160 per year invested. - Starting with $1,430 at 9% return you will have $554,387 after 15 years. - Even if you add the $107,455 extra paid in interest on the 30 year mortgage your net savings would only be $661,842 which is $87,161 less than investing $417 per month while staying with the 30 year mortgage. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Investing
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