My wife and I have some extra monthly income from a note we are holding on land we sold about two years ago. We intially used it for payments on a car loan. When that ended we thought that it would be best to put it into the house as "extra" payments on our mortgage, which has an 8% rate. We have about eleven more years of payments to receive at about $500 per month. At this rate our mortgage will be paid out in nine years instead of 24. I am a retired 61 year old former Gov't employee with a secured pension and a lifetime medical plan. My wife is 10 years my junior. We have no credit card debt and both cars are ours. Questions: 1. Would we be "better off" putting that extra cash into the market in my taxable account or continuing our current action? 2. If we put it into the market, where do we put the monies, i.e., buy every month (we are with a discount house), put the money into their cash hold account till we accumulate three, six or nine months worth? 3. If we buy, what do we buy...companies that are in our account now and are doing well (although at or near highs) or do we buy other stocks that we have researched and fit our level of risk? We have positions in about twenty five stocks ranging from GE, HD, HDI, JNJ, Dell, CMGI, Nite, Cisco, EMC, Sch, Msft, Intel, etc.Note: I posted this on the portfolio board and received one suggestion: Invest in Intel via a drip account in that Intel should beat the 8% mortgage by at least three percent. Any other options and the rationale behind them would be appreciated.....fool on, robot
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