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You gain 50k USD outta nowhere, where would you invest in? Invest NOT Spend.
- Thread starter entremet
- Start date
The only thing I follow from his is the snowballing thing. I don't mind a mortgage payment given the low interest. But other debts I have I need gone ASAP! And seeing the smaller accounts go away does keep the motivation up for me for the most part. Then again, those are much higher interest than the mortgage.
And even once those are gone, I think I'll focus on more retirement/college savings than accelerating mortgage payments.
Edit: As for the OP, probably just throw it into a retirement account or maybe college savings. Aggressive index fund and let it ride.
Hard to say, but definitely not the stock market right now (even Index funds/etfs) unless I was trying to short something. Or maybe precious metals. The bubble is real.
I'd put about a thousand or two into something volatile like Bitcoin since that's a relative risk.
I'd put like 10,000 or so into different airline companies, especially if something semi controversial makes the news that pisses people off from Delta again.
I'd invest the bulk into solid tech companies that aren't going anywhere, such as nVidia, Microsoft, AMD, Intel and Sony (though I'd likely wait a bit before investing in Intel, their stock has a bit to go before bottoming out, I feel.)
Probably put a couple thousand into Ford or something as well, since they're likely gonna be seeing good success with their EVs
I'd put like 10,000 or so into different airline companies, especially if something semi controversial makes the news that pisses people off from Delta again.
I'd invest the bulk into solid tech companies that aren't going anywhere, such as nVidia, Microsoft, AMD, Intel and Sony (though I'd likely wait a bit before investing in Intel, their stock has a bit to go before bottoming out, I feel.)
Probably put a couple thousand into Ford or something as well, since they're likely gonna be seeing good success with their EVs
Number wise, paying mortgage faster doesn't make sense at relatively low rate but it changes how you live your life. With mortgage gone, I'm willing to walk out of my job if I'm fed up with it or explore other types of jobs that may pay lower but give me more enjoyment or be able to take more risks and start something new. It's very liberating when your monthly expenses is cut so much.
As far as why Dave Ramsey sticks to this probably has more to do with the people who need his advice generally are not good with money to begin with. So instead of having liquid money that one could be enticed to spend on stupid things it wouldn't be the worst thing to pay off mortgage instead.
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Either buy a large piece of forested land, or buy stock in Main Street Capital, and make about $250 a month in dividends. Not a ton, but it will earn me enough to do a couple projects around the house every year.
Actually, I'd buy a trailer and commercial lawnmower, and buy the customers off my friend who is downsizing his business. I've seen how much you can make with a landscaping business. My friend makes an insane amount to sit in his lawnmower all day while paying someone to do the weed whacking for him. Makes in a day more then I make a week.
Actually, I'd buy a trailer and commercial lawnmower, and buy the customers off my friend who is downsizing his business. I've seen how much you can make with a landscaping business. My friend makes an insane amount to sit in his lawnmower all day while paying someone to do the weed whacking for him. Makes in a day more then I make a week.
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It depends on your situation though.
My mortgage was paid off years ago and I dumped everything into stocks. Since I'm also a 100% permanent and total disabled veteran, I have passive income for life ($36k per year) and pay no property taxes.
This allowed me to retire at 37.
Depending on your mortgage rate, that's a <~3% return on your investment. Maybe good psychologically, but very underwhelming as far as investments go. You would benefit far more from investing that in the stock market.
A house. Mostly to knock out two birds with one stone. I guess something with the stock market like an index fund or something. I would do much more research if I had the money to invest.
What's your timeline? Would you need access to the money in the next few years? If so, I'd probably put 60% in an equity based etf and 40% in fixed income (either GIC ladder or bond etf). If not, I'd probably put most of it in equities. Either way, don't try to time the market.
Some type of Vanguard fund would be the way to go, but I feel like investing in gold wouldn't be a bad idea either?
Was thinking maybe paying down my mortgage but I think I would much rather invest in S&P ETF or some other long term investment fund.
My mortgage payment isn't really changing, so why toss $50k at it when that same $50k can gain value over the next 30 years? If for some reason something happens down the road I would much rather have the money available to me.
My mortgage payment isn't really changing, so why toss $50k at it when that same $50k can gain value over the next 30 years? If for some reason something happens down the road I would much rather have the money available to me.
Rental property outside of the US. You can buy property in Japan for dirt cheap and I'd buy one or two and use the rest to fix it up and turn it into Airbnb or rental property and make passive income off of it until I am old enough to retire and can move into the property as a summer home.
