Have 50K to invest (put somewhere) and I'm new to investing--Pay down mortgage or invest?-- Any advice?

Search

New member
Joined
Sep 6, 2006
Messages
1,287
Tokens
I have an extra 50K I need to park somewhere/invest.

I am considering seeing a financial adviser but I am also considering paying down my mortgage.

I have a 500K mortgage at about 4% (I pay interest only every month and am not paying down any principle). House has gone down a bit in value since 2007 (bought it for 695K) probably worth $620-645K now.

Any suggestions on whether its better to put it in the markets or pay down the mortgage?
 

Member
Handicapper
Joined
Oct 31, 2004
Messages
44,283
Tokens
dude, regardless what you do with the money you need to pay down that principle on the house if at all possible.
 

Don't assume people in charge know what they are d
Joined
Aug 16, 2006
Messages
6,473
Tokens
Paying down a mortgage is usually never a bad idea.
Different times but, I would pay it down as long as you have substantial equity now.
 

Yo Mama Does It
Joined
Aug 27, 2007
Messages
1,218
Tokens
Housing market not showing any signs of recovery. Don't get upside down on an interest only loan.
 

bet365 player
Joined
Oct 25, 2006
Messages
7,599
Tokens
You might be better off refi/ pay down your current mortgage.

With good credit score, you can lock in 15 yrs fixed rate @3.30%.

Shorten the life of the mortgage will save you more money in the long run than investing in this rigged casino.

Put it on the phillies to win the world series.

:laugh:
 

bet365 player
Joined
Oct 25, 2006
Messages
7,599
Tokens
or you can do 20-yrs fixed @3.75%

excluding tax/insurance, for a mortgage of $450K, monthly payment is $2,600 on 20-yr 3.75% fixed vs. $2,100 on 30-yr ARM.
 

New member
Joined
Apr 18, 2011
Messages
5,056
Tokens
I have an extra 50K I need to park somewhere/invest.

I am considering seeing a financial adviser but I am also considering paying down my mortgage.

I have a 500K mortgage at about 4% (I pay interest only every month and am not paying down any principle). House has gone down a bit in value since 2007 (bought it for 695K) probably worth $620-645K now.


Any suggestions on whether its better to put it in the markets or pay down the mortgage?



What market are you in that has held value so well??? You are the definitely the exception
 

New member
Joined
Sep 6, 2006
Messages
1,287
Tokens
What market are you in that has held value so well??? You are the definitely the exception

I'm a partner in a privately held corporation. My house is in a suburb of Boston with a great school system (although I don't have any kids).
 

New member
Joined
Nov 26, 2010
Messages
519
Tokens
Grog,
Take a simple dime, buy xxii and hold on to it till spring. Look me up at that time and take me to dinner. Enjoy!
 

Forum statistics

Threads
1,106,907
Messages
13,439,514
Members
99,345
Latest member
08winlink
The RX is the sports betting industry's leading information portal for bonuses, picks, and sportsbook reviews. Find the best deals offered by a sportsbook in your state and browse our free picks section.FacebookTwitterInstagramContact Usforum@therx.com