Does spending makes you happy?
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kristofor
Apprentice
Joined: 05 Nov 2005
Posts: 4
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 Posted: 09/09/09 - 09:47 Post subject: |
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| 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. Spending makes my wife happy. I am thinking between paying the mortgage and investing it. Is it smart to be paying off mortgage as soon as possible? |
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berton
Apprentice
Joined: 27 May 2008
Posts: 2
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| Posted: 10/09/09 - 01:25 Post subject: |
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| 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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shef26
Apprentice
Joined: 25 Feb 2010
Posts: 9
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| Posted: 03/04/10 - 07:02 Post subject: |
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| I would suggest you to invest your money as you can potentially earn more money by investing your money such as in stock market etc. than paying down your mortgage. You can also diversify your money by putting a little into the mortgage and a little into the investment. |
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