44 - paid off mortgage 1.5 yrs ago - got layed off in Jan - life is sweet not having the pressure of the mortgage !!! No debt lifestyle!! It is the best!!
Pay down Mortgage or invest?
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Yes, I took risk into account. Risk is equal to volatility. Paying off your mortgage gives you the rate of return of your mortgage payment. Investing in the market gives you the rate of return of the stock market.
Not having to pay for something always feels better. Doesn't mean it is better.
What is better?
Having $50k in cash to do whatever you want with it (family emergency, rent a place in a new city where you just found work, etc) with $50k left in your mortgage or having that $50k given to a bank to pay off your mortgage and not having any money to use how you would want it?
When you have the money, you have the option of how to use it. When you don't have it, you can't ask the bank for it back to use elsewhere.
If you feel better about not having cash then give it to me.
Who said anything about not having cash handy? The point is to eliminate your debts AND have an emergency fund. Not one or the other, both.
paid off mortgage chick here ---- yes, you are assuming that just cause i is paid off i am broke and have no cash - wrong - I have a nw of 1.4 and am very liquid. and yes, still debt free.. 
paid off mortgage chick here ---- yes, you are assuming that just cause i is paid off i am broke and have no cash - wrong - I have a nw of 1.4 and am very liquid. and yes, still debt free..
I didn't say that was your situation. I'm saying that paying off a mortgage early is not the best thing to do for many, particularly if people are younger and choose between paying more than their mortgage requires in an attempt to pay it off early or just paying what the mortgage requires and investing the rest over the long term.
In most situations, the people who only pay what the mortgage requires and use other cash to invest in the market over the long will be better off when they retire. People who start investing late will never be able to catch up to those who start investing early and over many years.
It's not opinion. It's math.
A few things. Paid off mortgage chick...congrats! Curious as to how old u r to have mortgage paid for and 1.4 NW. To the posting above...one has to have balance. Nobody is saying to put all your money against your mortgage and not invest at all. I for one max out my 401K, put a few hundred in mutual funds every month, and put an extra 2K or so against mortgage every month. I want to have it paid for in 6-7 years, by the time I'm 40. The S&P 500 had a flat return over the past 10 years, that's why they called it the lost decade. Balance and diversification is key, as is being debt free.
i am 44 - thanks for the congrats!! still livin a conservative financial life and livin debt free! i have been tempted to purchase a bmw or mercedes but got over it when you realize the maintenance, insurance and dollars lost when you drive the beauty off the lot. oh well, that is ok
Lol...if only more people thought like we do the country wouldn't be in such a financial mess. 6 more years...I keep telling myself that everyday. Can't wait. Freedom! 6 years goes pretty fast.
You can still buy a mercedes or bmw and have similar ownership costs as a domestic car. I bought a 2006 BMW 325I last year. I paid just under $15k and it drives like new. I use an independent mechanic that specializes in BMW. His rates are very affordable. As for insurance, the rates in my area are cheaper for the bmw versus a comparable accord or camry.
You can save big $$$ and still live the good life.
Wow back in July I predicted all of this. I warned y'all. I am up 23% since July trading the ups and downs of the market. How you doin Mr Buy and Hold? Or should I say Buy and Hope?
Let me guess, you are using this as an opportunity to "buy low" so you can "dollar cost average" like those Wall St barons told ya to right?
But since you buy and hold, when do you ever sell high?
Let me guess, you are using this as an opportunity to "buy low" so you can "dollar cost average" like those Wall St barons told ya to right?
But since you buy and hold, when do you ever sell high?
Wall st. doesn't believe in buy and hold. If they did, there wouldn't be a need for a Wall street.
Why do you feel the need to let everyone know how well you are doing?
I have a challenge for you: put your bets on this website and we'll be able to see how you are doing.
List your investments before you buy them and when you sell them.
Well, it is really is directed at one douchebag in particular who seems to have disappeared since his "buy and hold" mantra has blown up in his face.
I have been trading technicals on the S&P and have done really well.
As to your challenge, nice try, but I am not giving all of my trades for free. You would need to pay for it. But, I will do this. I will tell you my prediction on the S&P since that is mostly what I watch. I either go long on SPY or short with SH. Look em up.
As to where it will go right now? It is a bit unclear as the technicals are a little muddy right now. I can tell you this. The next resistance for the S&P is 1299 and support is 1255. If the S&P breaks down below 1255, I am shorting it. Right now, I am sitting in cash watching. I have had a good run this year and there is no need to get greedy while the picture remains unclear.
I am a trend trader, I am not a day trader. If you don't know the difference, I suggest you look it up.
Whether you will realize it or not, you just got free financial advice you would normally have to pay hundreds for. You are welcome
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If you're soooo good at investing why don't you leave the pharma industry and do it full time? Ahhhh, thought so.
Well, it is really is directed at one douchebag in particular who seems to have disappeared since his "buy and hold" mantra has blown up in his face.
I have been trading technicals on the S&P and have done really well.
As to your challenge, nice try, but I am not giving all of my trades for free. You would need to pay for it. But, I will do this. I will tell you my prediction on the S&P since that is mostly what I watch. I either go long on SPY or short with SH. Look em up.
As to where it will go right now? It is a bit unclear as the technicals are a little muddy right now. I can tell you this. The next resistance for the S&P is 1299 and support is 1255. If the S&P breaks down below 1255, I am shorting it. Right now, I am sitting in cash watching. I have had a good run this year and there is no need to get greedy while the picture remains unclear.
I am a trend trader, I am not a day trader. If you don't know the difference, I suggest you look it up.
Whether you will realize it or not, you just got free financial advice you would normally have to pay hundreds for. You are welcome
You are the only one who keeps arguing about it and trying to tell everyone how well you are doing. Why so insecure?
You can do both. Why would you think you have to do only one versus the other?
Hey Mr Anonypussy, I was merely responding to your challenge. I gave you my prediction. Now run with it.