Re: Looking for opinions on paying down mortgage - Saab General Bulletin Board - Saabnet.com
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I like this article on paying down mortgage ideas:
For me, I just refinanced our mortgage from a 30-year to a 15-year mortgage and reduced the rate to 2% (with no closing costs). I did not take out more money from our equity. I've been a steady stock market investor since 1991 and weathered the dot com bust and the 2008 recession by holding steady. My wife and I renovated our home which is the only time I significantly sold off stock to finance a specific project. I don't have time to do my own investment research so I have had the same financial advisor who handles my portfolio since 1991 and he's done a fantastic job out-performing the markets. It was a personal decision to up my monthly mortgage payment by $1k/month which is being diverted from being invested. I might be losing money on this decision, but I really like the idea of 2% interest and being done with my mortgage in 15 years instead of 30.
My grandfather spent a lot of time with us grandkids teaching us about the stock market. He was a savvy investor himself and I think this is a funny story; when I went to college, I got my first computer, a Mac 512Ke. My grandfather asked me "What in the world does anyone need a computer for??!! I've got my ledger in which I record all my transactions...??!!" Meanwhile, he had been investing in IBM and Digital Equipment Corporation early on and saw phenomenal returns...
1973 Saab Sonett III (Current)
1983 Saab 900 Turbo
1985 Saab 900 Sedan
1990 Saab 900
1992 Saab 900S
1999 Saab 9-3 Turbo
2005 Saab 9-2X Aero (RIP 95K/Accident-guy ran stop sign)
2005 Saab 9-2X Aero (Current)
2007 Saab 9-3 SportCombi
2010 Saab 9-3X Wagon (Wife's Current)
Winner 1996 Saab Owners Convention Rally Novice Class
Winner 1999 Saab Owners Convention Rally (All Classes)
Posts in this Thread:
- Looking for opinions on paying down mortgage, Sam, Tue, 2 Feb 2021 08:42:41
- Re: Looking for opinions on paying down mortgage, DaveofFairfax , Thu, 11 Feb 2021 14:27:20
- Re: Looking for opinions on paying down mortgage, Randy Thatcher , Thu, 11 Feb 2021 13:40:151
- Re: Looking for opinions on paying down mortgage, Notnoel , Thu, 11 Feb 2021 10:13:572
- Re: Looking for opinions on paying down mortgage, Cary, Wed, 10 Feb 2021 16:03:18
- Re: Looking for opinions on paying down mortgage, Roger_S , Wed, 3 Feb 2021 10:50:00
- Thanks! Appreciate the input. n/m, Sam, Tue, 2 Feb 2021 16:23:11
- Re: Looking for opinions on paying down mortgage, Scott Paterson , Tue, 2 Feb 2021 11:37:40 <-- Viewing This Message
- Re: Looking for opinions on paying down mortgage, JerseySaab , Tue, 2 Feb 2021 11:07:111
- Re: Looking for opinions on paying down mortgage., EGD , Tue, 2 Feb 2021 11:04:41
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