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Have you ever wondered if you should prepay your mortgage?
In today’s show I give you the information to make an informed decision based upon your personal situation.
We take into account the analytical side of the decision as well as the emotional relief that can come from being DEBT FREE….
The analytical side of the discussion comes from a great article in this month’s Consumer Reports titled “Your Mortgage: It Rarely Pays to Prepay“. As you can probably see from the title of the article, they argue that that most people should not prepay and should instead use the money to invest. I think that Consumer Reports did a great analysis, but remember paying off your house versus investing in the stock market has many different factors beyond a simple math calculation. Depending on your personal risk threshold there are people that would prefer to be debt-free for the psychological satisfaction rather than maximize the earning potential of their investment portfolio. In today’s show I give you my insight to help you determine where you fall in this decision.
A few key facts from the Consumer Reports article…
Please note that this was primarily a mathematical calculation and there is much more that should go into your decision of prepaying your mortgage. You should also take into account:
**Fund Managers are using this time of volatility to welcome new investors**
I also wanted to let you know that with all of the volatility in the financial markets there are some very well know Mutual Funds that have been closed to new investors for a number of years that have reopened to new investors. Below I have provided links, so that you can research each of these options:
Thanks and see you next week!
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