I think the quickest way out of wageslaving is paying off your house.

[mchabs]

If you have a $600k house and let's say half of it is paid off to this point 15 years into your 30 year mortgage. You magically have $300k fall into your lap. You think it's better to pay off your mortgage than it would be to invest that $300k (through any number of investments strategies for that matter)?

This is why you're poor. There's a lot of richcels out there who have mortgages because they understand net present value unlike your peasant ass. Stay poor.

Some of my friends have multiple properties that they rent out (with mortgages) and still rent places themselves just to experience a cool part of town for a couple years.

[eddiehaskell]

Some of my friends have multiple properties that they rent out (with mortgages) and still rent places themselves just to experience a cool part of town for a couple years.

some people are just more risk adverse than others. they want the primary paid off, the rental paid off, the car paid off, the credit cards paid off, money in the market, a year of living expenses set aside. for these people there's almost no conceivable economic scenario where their way of life is in jeopardy...they sleep well at night. and for them, that has a value to it.

[IlChosenOne]

Perhaps, but I think for me and my 2.25% 30 year interest rate, i’d be better off using the money for something else

If you have a $600k house and let's say half of it is paid off to this point 15 years into your 30 year mortgage. You magically have $300k fall into your lap. You think it's better to pay off your mortgage than it would be to invest that $300k (through any number of investments strategies for that matter)?

This is why you're poor. There's a lot of richcels out there who have mortgages because they understand net present value unlike your peasant ass. Stay poor.

lol damn

[kusok]

You actually want the longest possible mortgage. Since money is losing value. If you got 100k cash now, it should go to sp500 or Tesla and bitcoin if you know what’s up, not to pay off your mortgage, since the market will Make you much more money than you have to pay as mortgage.

[BigDickBlack]

Paid odd house over a decade ago, and zero car payments since then as well. Zero debt is a nice thing.
Have just been padding the f**K out of retirement funds. If demtards dont crash the planet financially, I will be rich in retirement.
(The kid molesting p3doz)..

[MikeLowrrrey]

If you have a $600k house and let's say half of it is paid off to this point 15 years into your 30 year mortgage. You magically have $300k fall into your lap. You think it's better to pay off your mortgage than it would be to invest that $300k (through any number of investments strategies for that matter)?

This is why you're poor. There's a lot of richcels out there who have mortgages because they understand net present value unlike your peasant ass. Stay poor.

Yes it's better to pay off the house so you don't have to work as many hours if you don't want. Monthly payments on a $600k house right now is what, $4000?

You'd be saving $48,000/yr cash.

[24HrParking]

The sad thing is, the misc is actually a good place to get other perspectives on this and other issues.

I remember 12 or so years ago I joined, and it really changed my attitude about what was possible. I already had a strong grounding in neoclassical economic theory, quantitative economics and financial markets, but misc really helped. Especially with motivation. Not even being facetious.

yet you still cry about the union, trying to scam money out of your employer you dont deserve. You're either a pajeet or a lebbo 100% (or close to it)

[bsrkoacar2]

My interest rate is like 2.3%. that's the cheapest loan I'll ever get.... Seems like I'd be better off making monthly payments and putting money into other investments

[wickedman]

Definitely is 100% based on your interest rate.

Anyone who bought during COVID would be a dumb ass to pay it off. Anyone who buys now could probably benefit.

[r32gojirra]

yet you still cry about the union, trying to scam money out of your employer you dont deserve. You're either a pajeet or a lebbo 100% (or close to it)

Lmao

So much unaweir in one post

[eddiehaskell]

Yes it's better to pay off the house so you don't have to work as many hours if you don't want. Monthly payments on a $600k house right now is what, $4000?

You'd be saving $48,000/yr cash.

trying to fair as possible...say you put $600k in an index fund at 9% annual return or put $600k towards paying off the house and then $4k/month into the 9% index fund instead of making the monthly mortgage payment.

- $600k into the 9% return index fund is $2.185 million after 15 years and you owe $447,600 that's left on the mortgage. You're positive $1,737,000.

- $4k/month into the 9% index fund is $1,466,554 after 15 years + $600,000 (value to be different in both scenarios...likely worth more) because you own the home outright. You are positive $2,066,000.

Now it's late so someone can check those numbers if they want.

Option #2 allows the person to own their home so they have one less bill to fool with.

[eddiehaskell]

Definitely is 100% based on your interest rate.

Anyone who bought during COVID would be a dumb ass to pay it off. Anyone who buys now could probably benefit.

Running the numbers out of curiosity with a 3.5% mortgage rate @ 30 years on $600,000....$$2,700 payment.

$600,000 invested with a 9% annual return is $2,185,000. After 15 years this person owes $385,000 on their mortgage. They are positive $1.8M.

The person paying off the house with $600,000 will now invest $2,700 month with a 9% annual return. After 15 years that is $990,000. Plus they have the $600,000 home they own outright. They are positive $1,590,000.

Call it a $200,000 difference in favor of NOT paying the home off.

Not a HUGE difference in the grand scheme of things so the person choosing to pay their home with the $600k may favor that route if it gives them more peace of mind. Also, under some scenarios the difference could be even less depending on where the market is at year 15.

[Godfrd824]

trying to fair as possible...say you put $600k in an index fund at 9% annual return or put $600k towards paying off the house and then $4k/month into the 9% index fund instead of making the monthly mortgage payment.

- $600k into the 9% return index fund is $2.185 million after 15 years and you owe $447,600 that's left on the mortgage. You're positive $1,737,000.

- $4k/month into the 9% index fund is $1,466,554 after 15 years + $600,000 (value to be different in both scenarios...likely worth more) because you own the home outright. You are positive $2,066,000.

Now it's late so someone can check those numbers if they want.

Option #2 allows the person to own their home so they have one less bill to fool with.

You always post these calculations that always require someone to just pull an indeterminate amount of money out of their ass to work. How does that work? Where did that $600k come from? You did the same thing yesterday with that thread about getting $50k at 18 or going to college.

[FatLoserNerd]

Keep thinking that, low socioeconomic peasant.

You’re probably the biggest loser here tf are you on about?

[eddiehaskell]

You always post these calculations that always require someone to just pull an indeterminate amount of money out of their ass to work. How does that work? Where did that $600k come from? You did the same thing yesterday with that thread about getting $50k at 18 or going to college.

If you pay attention, the entire discussion was about if someone that has a large sum of money -- should they pay of their home in something akin to Dave Ramsey thinking or should they continue paying their mortgage and simply invest the large sum of money. Where the money came from is completely irrelevant -- you're getting lost in the weeds.

[Omnivium]

Depends on your interest rate. If your interest rate is 3% then it would be stupid to pay it off

[Anachron]

You’re probably the biggest loser here tf are you on about?

¯\_(ツ)_/¯

[eddiehaskell]

Depends on your interest rate. If your interest rate is 3% then it would be stupid to pay it off

Still not really stupid.

[eddiehaskell]

trying to fair as possible...say you put $600k in an index fund at 9% annual return or put $600k towards paying off the house and then $4k/month into the 9% index fund instead of making the monthly mortgage payment.

- $600k into the 9% return index fund is $2.185 million after 15 years and you owe $447,600 that's left on the mortgage. You're positive $1,737,000.

- $4k/month into the 9% index fund is $1,466,554 after 15 years + $600,000 (value to be different in both scenarios...likely worth more) because you own the home outright. You are positive $2,066,000.

Now it's late so someone can check those numbers if they want.

Option #2 allows the person to own their home so they have one less bill to fool with.

This needs to be addressed.

[8pieces]

HEALTHCARE is EXACTLY why the SMART $$$ supports LEADERSHIP like BERNIE/AOC who advocate for the SAME BIG GOV HEALTHCARE for Americans as enjoyed by citizens of other FIRST WORLD NATIONS

bet if you add up all the various Taxes(income/property/sales) + INSURANCE + OUT OF POCKET EXPENSE, Americans probably PAY MORE than those Euro Socialists who get a BETTER TAX ROI!

this is probably the best argument i've seen for socilized healthcare. you are talking about the largest economy in the world not wanting to do it while they give trillions annually to israel. why do politicians even earn a salary when they are all millionaires and makes millions annually? all the spending they do on the your dime. makes you think

[Anachron]

This needs to be addressed.

I mean, you demonstrated exactly why people do need to stay in school beyond 4th grade, contrary to what you advocated for in another thread, because none of what you typed in that post lines up.

¯\_(ツ)_/¯

[Godfrd824]

If you pay attention, the entire discussion was about if someone that has a large sum of money -- should they pay of their home in something akin to Dave Ramsey thinking or should they continue paying their mortgage and simply invest the large sum of money. Where the money came from is completely irrelevant -- you're getting lost in the weeds.

No it's not. Go re-read the OP again.

I mean, you demonstrated exactly why people do need to stay in school beyond 4th grade, contrary to what you advocated for in another thread, because none of what you typed in that post lines up.

¯\_(ツ)_/¯

I was thinking the same thing with the "education past 4th grade" post he made a few days ago.

[r32gojirra]

This needs to be addressed.

Yes - your lack of basic numeracy and critical thinking skills does need to be addressed.

Apparently the cuckmerican school system is not up to the task

[IPoopStandingUp]

Getting rid of my mortgage would give me back the 10-15% of my income it uses. Not exactly financial freedom dude

[buwbs]

Seems like even billionaires keep working in some kind of way

Do a job you enjoy

[blazenbb]

You always post these calculations that always require someone to just pull an indeterminate amount of money out of their ass to work. How does that work? Where did that $600k come from? You did the same thing yesterday with that thread about getting $50k at 18 or going to college.

Inheritance. How do you think this baguette bought a house and has never worked?

[Godfrd824]

Inheritance. How do you think this baguette bought a house and has never worked?

He says he mowed lawns throughout high school and bought his first house cash at 19.

[Anachron]

He says he mowed lawns throughout high school and bought his first trailer cash at 19.

Fixed that for you.

¯\_(ツ)_/¯

[OneLegSquats]

My mum paid off my house for me. Literally saved me 20 years of wage slaving on a mortgage. It's nice to be born into a family of winners

[plebmaximus]

The key is to take out a second mortgage on another home and rent whichever one you don't want to live in. I wouldn't be able to live with roommates again either.

^^ the only guy who's actually try to help OP as opposed to calling OP a brokie


OP, just do what this message says, and you will be better FASTER