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The time now is 07/20/08 - 07:04

Do I pay off my mortgage or invest elsewhere?


RealCool.BIZ Forum Index -> Finance -> Mortgages & Endowments

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shay
Apprentice


Joined: 07 May 2005
Posts: 14



PostPosted: 10/06/07 - 10:12    Post subject: Reply with quote

I suddenly inherited a lump sum of money. I did not expect that so I do not know what to do with it. If it stays in the house we will surly spend it on some unimportant stuff. I am thinking between paying the mortgage and investing it. Is it smart to be paying off mortgage as soon as possible? Therefore, I need your opinion - should I pay off my mortgage or invest money elsewhere?
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ernie
Apprentice


Joined: 14 Aug 2005
Posts: 4



PostPosted: 11/01/07 - 23:03    Post subject: Reply with quote

I would surly like to have your kind of problem. Just kidding. Of course, if you don't get the money out of the house it will, most surly, be spend within couple of months. You are right, you should not miss the opportunity to do something important with that money for your family. What to do depends mostly of you. If you have a good mortgage and understand in investments or have somebody you trust to invest your money then it would surly be better to invest it. That way you might earn much more then your mortgage rate. However, if you do not have any experience with investments you should better pay your mortgage and get it of your back.
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RealCool.BIZ Forum Index -> Finance -> Mortgages & Endowments

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