2006-08-02 08:33:25 · 6 answers · asked by Anonymous in Business & Finance ➔ Investing
That is a good question that comes up often in one form or another. There is no absolute answer but I will tell you what I think and why.
I think you should put it into your house. The reason is that the investment has a sure return and by paying off your mortage, you will have extra income at your disposal for a long time.
Investments on the other hand despite oppinions to the contrary are risky. There is no guaranteed return. In fact it is quite possible to loose everything. Ask those who invested in Enron, World Com, and Global Crossing. Ask those who bought stocks at the end of 2000.
2006-08-02 08:43:54 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you can find investments paying more interest than you are paying on your house then Invest it. Personally, I'm taking a 10% home equity loan to invest in much higher guaranteed, secure returns. That's how the rich are rich. If you own 10 houses and have mortgages on all, if you rent them out and cover your payments with a little extra you are in the possitive. You have monthly cash flow, plus the value appreciatesm and net worth is high.
2006-08-03 04:04:06 · answer #2 · answered by reallifeanswers 2 · 0⤊ 0⤋
I would pay off my house, which will free up alot more money in the long run to use for investments. It would take a really good investment strategy, or a large sum of money to make more in the market than you would be paying in interest on your mortgage.
2006-08-02 08:40:18 · answer #3 · answered by Jennifer W 4 · 0⤊ 0⤋
If you inherit a lot of money than you can afford to pay off your house and invest the rest. Then if oyu lose the rest at least your house is paid off.
If you don't inherit that much than it may be better to just invest it. It really depends on how much money your talking about and the investments and risk level they have.
2006-08-02 18:47:47 · answer #4 · answered by ulchka 3 · 0⤊ 0⤋
both answers before me are the best. No guarantees in investments so yes pay the house off. Then invest at least every month into good mutual funds the $$$ you were spending on your mortgage at least then there is no change in lifestyle.
Good luck to you!
2006-08-02 08:52:44 · answer #5 · answered by golferwhoworks 7 · 0⤊ 0⤋
Pay off your house of course.
What ever life brings you you will always have a roof over your head. It is a great thing
2006-08-02 11:04:49 · answer #6 · answered by Anonymous · 0⤊ 0⤋