What is the best investment today if I have $$$? beside pay off my mortage.
2006-07-30 13:31:24 · 9 answers · asked by Sammie Y 1 in Business & Finance ➔ Personal Finance
Paying off your house is an investment.
2006-07-30 13:34:20 · answer #1 · answered by Mom 5 · 0⤊ 0⤋
Invest it in an RRSP Registered Retirement Savings Plan and then use the money that you will get from your Tax Return to pay off the mortgage. It's a win-win situation. Mortgage is what is called good debt.
2006-07-30 22:09:42 · answer #2 · answered by Samantha H 1 · 0⤊ 0⤋
If you are emotionally attached to your house, well then pay off the house, but if you are getting into making money, I would say do an investment. A friends of mine invests into realestate. He buys a house or apartments, usually duplex, and moves in to do remodeling or improvements to the place. So he pays his mortgage while he lives in it as if it was rest. As soon as he raises the value he sells the place and buys another one. He also buys property to rent or lease out. He always is owing on mortgage, but his rental properties not only pay for themselves, but gives him the opportunity to buy other properties for resale. You got the money to pay for your house now, I suggest to invest into a second home or duplex apartments and rest or lease them out. believe me, soon you will pay for your house and the second home and start making the real money
2006-07-30 20:59:17 · answer #3 · answered by jessejamesthegreat 2 · 0⤊ 0⤋
If you have an employer 401K, make sure you have maxed out the contribution level first. Also, check out Roth IRAs.
I am assuming you have no credit card debt or personal loans. If you do pay them all off.
Nothing wrong with paying off you mortgage and being debt free though!
2006-07-30 20:36:26 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Pay off the house.
2006-07-30 20:35:13 · answer #5 · answered by gramcracker541 5 · 0⤊ 0⤋
Pay off your home, then you have no debt, after that you take the payment money and invest it.
2006-07-30 20:35:58 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Definitely pay off the house first, especially if you have an adjustable mortgage.
2006-07-30 20:34:57 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Pay off you house..
2006-07-30 20:35:54 · answer #8 · answered by cin_ann_43 6 · 0⤊ 0⤋
I would payoff my house first...nothing beats a worry-free living!
2006-07-30 20:35:46 · answer #9 · answered by alandicho 5 · 0⤊ 0⤋