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SVTPerformance's Chain of Restaurants
Road Side Pub
Should I start an IRA (individual retirement account)
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<blockquote data-quote="blownstang4.6" data-source="post: 16179060" data-attributes="member: 129006"><p>Depends on what you invest in. The extra $30k I paid off in 2 years would amount to $78k if invested over 12 years that it saved me on the mortgage with an average 8% return compounded. So I'm at $37k more by putting that lump into the mortgage and I'll be paying off more in future years.</p><p></p><p>If you keep that $30k in for 30 years it's $330,000, but I'd rather be debt free earlier in life and then dump in more money into savings later when my salary is much higher. Market returns and investments also aren't a guarantee. Just like the OP, I have other forms of investments at work and personal. So this could be considered another diversification option for the OP.</p></blockquote><p></p>
[QUOTE="blownstang4.6, post: 16179060, member: 129006"] Depends on what you invest in. The extra $30k I paid off in 2 years would amount to $78k if invested over 12 years that it saved me on the mortgage with an average 8% return compounded. So I'm at $37k more by putting that lump into the mortgage and I'll be paying off more in future years. If you keep that $30k in for 30 years it's $330,000, but I'd rather be debt free earlier in life and then dump in more money into savings later when my salary is much higher. Market returns and investments also aren't a guarantee. Just like the OP, I have other forms of investments at work and personal. So this could be considered another diversification option for the OP. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Should I start an IRA (individual retirement account)
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