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|Subject: Balancing debt vs Investing||Date: 12/29/2012 1:25 PM|
|Author: Charmaine102||Number: 306555 of 308369|
I am finally at a point where my only debt is my mortgage at 5.25% a second at below prime and $10,000 left on a massive student loan at 7%.
I would like to start investing and also considering purchasing a beach house for rental income.
My question is: Should I pay down my mortgage to refinance it at 3.25% (the value of my home is what I owe because of the market values.) and pay off my student loan. (I am not able to deduct the interest because of my income.) Or can I start investing in stock? I hope to retire in 15 years.
Second question would be on buying a rental property. This would put me back into debt but would allow me to fulfill a dream of owning a beach home.
Thank you in advance for any advise.
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