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Personal Finances / Buying or Selling a Home
|Subject: Pay more on Mortage or Invest in Mkt.||Date: 8/27/1999 7:05 PM|
|Author: dwlittle1||Number: 5339 of 128459|
I'm new at this, hope I give all required to provide me some input to share with Judy. She thinks we should pay more. Doubt we live long enough to pay off mortage.
Mortage rate: 8.375%
monthly payment: 771.32
Loan is a 30year loan, paid on it for two years
We could probably pay 300 more a month.
I think we will be better off to invest the 300 per month in the mkt.
We are 60 years old. I'm retired with Social security and pension of about 3K per month which I spend most of, especially when I travel in a given month for pleasure. Judy still works, take home pay about 1600/mth. Her retirment will be about 700 a month.
I have about 400k in savings, half in 401k, other half in mutual funds. I am studying how to reinvest this money using the internet resources including your site.
Retired last may, I know more now but have a ways to go yet before doing anything.
Do we invest in mkt or pay more on house.
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