Log In

Your email is not your username

Register

If you were a member of the old Bodybuilding.com forums and would like to reuse your previous username, you can request it below. We use your email only for registration and do not store it. For more information, please see our Privacy Policy.

Confirm your email

A registration code was sent to your email. Enter it here.

Welcome

You have successfully setup your account.

Sign in

Quick Navigation Bottom Misc
Forum » On the topic of paying off your mortgage early
  1. Results 31 to 60 of 95
  2. Page 2 of 4
  3. First
  5. 1
  6. 2
  7. 3
  8. 4
  10. Last

Thread: On the topic of paying off your mortgage early

post 1701343003 05-20-2024, 06:42 PM
-
#31
  1. Anachron
  1. Anachron
  3. Join Date: Aug 2015
  4. Posts: 16,256
  5. Rep Power: 684030
Originally Posted By MrSchons⏩
What if I pay my mortgage off in 12-14 years compared to 30?
Example in OP pays it off in 19.

The sooner you pay the mortgage off, the further behind you will be, if all other parameters are kept the same.

I.e. if you decide to work overtime and toss an extra $500 towards the mortgage outside the original budget, you can't compare that against investing at the original budget - you have to compare against tossing an extra $500 towards investment funds.

post 1701343063 05-20-2024, 06:44 PM
-
#32
  1. DuracellBunny
  2. Has new batteries!
  1. DuracellBunny
  2. Has new batteries!
  3. Join Date: Nov 2005
  4. Posts: 15,594
  5. Rep Power: 201320
Originally Posted By MrSchons⏩
What if I pay my mortgage off in 12-14 years compared to 30?
If somebodywantsto pay it off early they should.But, they should do so in the knowledge that they are doing it for psychological reasons, not financial ones.

I personally paid cash for my house, because Iwantedto. I also rarely involve myself in the market, as I prefer to reinvest in things that I directly control.

On paper, I would have been financially better off doing otherwise, but I don't need the extra money and did so in full knowledge that I was effectively paying a premium to do so.
Screw nature; my body will do what I DAMN WELL tell it to do!

The only dangerous thing about an exercise is the person doing it.

They had the technology to rebuild me. They made me better, stronger, faster......
post 1701343073 05-20-2024, 06:44 PM
-
#33
  1. atgbrahsrs
  2. ToningWasTooHarshForMe
  1. atgbrahsrs
  2. ToningWasTooHarshForMe
  3. Join Date: Jan 2015
  4. Posts: 16,298
  5. Rep Power: 67825
Originally Posted By r32gojirra⏩
Age:44

Can i interest you in some collapse of the Soviet Union
Funny how you, the son of Soviet immigrants probably, keep going on about the Soviet army during WW2 which won on manpower alone against an enemy that managed to do so much so much in so little time - the efficiency compared to the bolsheviks is impeccable.

Your age, despite being raised by people who hopefully saw that bolshevism was the greater evil and came with nothing, combined with Australia (a country of ex cons better developed than Russia due to bolshevism) makes the story of acquiring real estate much easier.


You remind me of one Serbian idiot who was here 2 years ago and he was like Z this, Z that, all whilst being born in Germany and working there raising a family.

Political schizo.

That is why when I meet a Russian Tinderella in London I tell her exactly what I think about Russia -> better run by Germans.
communist until you get rich
rightwing until financially secure
atheist until the plane starts falling
slootist until you get married
muslim after you get married
post 1701343103 05-20-2024, 06:46 PM
-
#34
  1. Anachron
  1. Anachron
  3. Join Date: Aug 2015
  4. Posts: 16,256
  5. Rep Power: 684030
Originally Posted By DuracellBunny⏩
If somebodywantsto pay it off early they should.But, they should do so in the knowledge that they are doing it for psychological reasons, not financial ones.

I personally paid cash for my house, because Iwantedto. I also rarely involve myself in the market, as I prefer to reinvest in things that I directly control.

On paper, I would have been financially better off doing otherwise, but I don't need the extra money and did so in full knowledge that I was effectively paying a premium to do so.
Very nicely put.

post 1701343113 05-20-2024, 06:46 PM
-
#35
  1. NextPound
  2. Registered User
  1. NextPound
  2. Registered User
  3. Join Date: Jan 2019
  4. Posts: 55
  5. Rep Power: 0
Originally Posted By NextPound⏩
I have run it out myself a bunch of times. It honestly does not really make a difference either way once you take into cap gains taxes, but yes, you will come out marginally ahead if you invest over pay off, but it really depends on rate. My 2.75% rate makes it a no brainer.
The other thing about investing over pay off if you are disciplined is you are building safety by having a huge pile of cash. You could also invest until your non retirement accounts reach the point of being able to pay off the mortgage. Lots of ways to get there, but let’s be honest, most people will keep ordering Uber eats and do neither.
post 1701343133 05-20-2024, 06:47 PM
-
#36
  1. SaviorSelfJT
  2. clownslayer
  1. SaviorSelfJT
  2. clownslayer
  3. Join Date: Aug 2010
  4. Posts: 12,855
  5. Rep Power: 166618
Dave Ramsey on suicide watch
Best lifts:
Bench press: 315x5
Squat: 465x1
Strict press: 205x5
Deadlift: 405x13 (conv tap'n'go with straps)
post 1701346153 05-20-2024, 08:19 PM
-
#37
  1. r32gojirra
  2. Registered NEET
  1. r32gojirra
  2. Registered NEET
  3. Join Date: Feb 2013
  4. Location: East Coast, Australia
  5. Posts: 39,465
  6. Subscribers: 6
  7. Rep Power: 590937
Originally Posted By NextPound⏩
The other thing about investing over pay off if you are disciplined is you arebuilding safety by having a huge pile of cash. You could also invest until your non retirement accounts reach the point of being able to pay off the mortgage. Lots of ways to get there, but let’s be honest, most people will keep ordering Uber eats and do neither.
Have you ever lived through a currency devaluation
post 1701346923 05-20-2024, 08:43 PM
-
#38
  1. LateShow
  2. smashing and dashing
  1. LateShow
  2. smashing and dashing
  3. Join Date: Dec 2013
  4. Location: Minnesota, United States
  5. Posts: 5,433
  6. Rep Power: 56450
With a 7.25% interest rate on my mortgage I’d rather pay it down than invest the extra, but that’s just me.
I’d rather have the psychological peace of mind for the $100k I would have to give up over 30 years.
post 1701347063 05-20-2024, 08:47 PM
-
#39
  1. Anachron
  1. Anachron
  3. Join Date: Aug 2015
  4. Posts: 16,256
  5. Rep Power: 684030
Originally Posted By LateShow⏩
With a 7.25% interest rate on my mortgage I’d rather pay it down than invest the extra, but that’s just me.
I’d rather have the psychological peace of mind for the $100k I would have to give up over 30 years.
Well put.

post 1701347893 05-20-2024, 09:13 PM
-
#40
  1. AriesTH
  2. Certified User
  1. AriesTH
  2. Certified User
  3. Join Date: Apr 2013
  4. Location: Vancouver, B.C, Canada
  5. Posts: 2,115
  6. Rep Power: 30930
Good post. Why put so much effort in to educating these people though lol

I do think it might be unrealistic to keep expected investment returns that high over the following 30 years, in theory they should be lower and a more globally diversified portfolio is closer to 5.3%, but also most people don’t have 7% mortgages 🙂

I am firmly in the camp of invest over pay down mortgage though in 99% of cases, this included. This doesn’t even consider other things like what you said, or having liquidity available.
ASOT Crew
BLM Crew (Bang Local MILFs)
post 1701348823 05-20-2024, 09:47 PM
-
#41
  1. LaCosaNostra90
  2. Registered User
  1. LaCosaNostra90
  2. Registered User
  3. Join Date: Dec 2011
  4. Location: Alberta, Canada
  5. Posts: 15,577
  6. Rep Power: 22156
the big factor is piece of mind and a guaranteed return with paying off your mortgage


The market (SP500) has returned 10% a year but that doesn't mean it will in the future. You could also dump a bunch in and it could tank 20% no problem
post 1701349353 05-20-2024, 10:11 PM
-
#42
  1. MikeLowrrrey
  1. MikeLowrrrey
  3. Join Date: Jul 2018
  4. Age: 56
  5. Posts: 35,133
  6. Subscribers: 2
  7. Rep Power: 120067
What if person B loses their job? I'm gonna assume they have an emergency fund, but still
post 1701349493 05-20-2024, 10:17 PM
-
#43
  1. AriesTH
  2. Certified User
  1. AriesTH
  2. Certified User
  3. Join Date: Apr 2013
  4. Location: Vancouver, B.C, Canada
  5. Posts: 2,115
  6. Rep Power: 30930
Then they have a big emergency fund and time to find a new one lol
ASOT Crew
BLM Crew (Bang Local MILFs)
post 1701351413 05-20-2024, 11:59 PM
-
#44
  1. Formula0ne
  2. Banned
  1. Formula0ne
  2. Banned
  3. Join Date: Apr 2024
  4. Age: 56
  5. Posts: 292
  6. Rep Power: 0
It's easy math. If your interest rate on your loan is 4%, but if you invest and earn 8%, you're better off using your extra money to invest than you are to pay off your loan faster.
post 1701351423 05-21-2024, 12:00 AM
-
#45
  1. Formula0ne
  2. Banned
  1. Formula0ne
  2. Banned
  3. Join Date: Apr 2024
  4. Age: 56
  5. Posts: 292
  6. Rep Power: 0
Originally Posted By MikeLowrrrey⏩
What if person B loses their job? I'm gonna assume they have an emergency fund, but still
If person B is the person who invested, they can sell some stocks to pay the bills for 5 months until they're getting good paychecks again. You should also always have maybe 2 months of income ready. Most professionals could find a job in 3 months or less.
post 1701351553 05-21-2024, 12:05 AM
-
#46
  1. r32gojirra
  2. Registered NEET
  1. r32gojirra
  2. Registered NEET
  3. Join Date: Feb 2013
  4. Location: East Coast, Australia
  5. Posts: 39,465
  6. Subscribers: 6
  7. Rep Power: 590937
Originally Posted By Formula0ne⏩
It's easy math. If your interest rate on your loan is 4%, but if you invest and earn 8%, you're better off using your extra money to invest than you are to pay off your loan faster.
buHt mAh pSyChOLoGiCaL bEnEfItS oF dEbT FrEe

ReeeeEeeeee1!1!!!1
post 1701358603 05-21-2024, 07:39 AM
-
#47
  1. Anachron
  1. Anachron
  3. Join Date: Aug 2015
  4. Posts: 16,256
  5. Rep Power: 684030
Bump for morning crew.

post 1701359273 05-21-2024, 08:01 AM
-
#48
  1. Destor
  2. Registered User
  1. Destor
  2. Registered User
  3. Join Date: Apr 2012
  4. Location: Alberta, Canada
  5. Age: 41
  6. Posts: 43,481
  7. Rep Power: 254906
Not having a mortgage would be psychologically beneficial but it’s also psychologically beneficial to have a big chunk of money sitting elsewhere that you can tap into when needed/wanted
post 1701359553 05-21-2024, 08:06 AM
-
#49
  1. donblaximus
  2. Registered User
  1. donblaximus
  2. Registered User
  3. Join Date: Jul 2010
  4. Age: 50
  5. Posts: 12,396
  6. Rep Power: 70954
But muh peeece of mind bro??
post 1701359663 05-21-2024, 08:08 AM
-
#50
  1. donblaximus
  2. Registered User
  1. donblaximus
  2. Registered User
  3. Join Date: Jul 2010
  4. Age: 50
  5. Posts: 12,396
  6. Rep Power: 70954
Originally Posted By MikeLowrrrey⏩
What if person B loses their job? I'm gonna assume they have an emergency fund, but still
Uhhhhh you have investments you can sell to raise capital??
post 1701359713 05-21-2024, 08:10 AM
-
#51
  1. AWSbruh
  2. Registered User
  1. AWSbruh
  2. Registered User
  3. Join Date: May 2019
  4. Age: 56
  5. Posts: 12,330
  6. Rep Power: 54725
Should I pay off my mortgage early at a 2.6 interest rate or put the extra cash in the market. Srs
post 1701359903 05-21-2024, 08:14 AM
-
#52
  1. Anachron
  1. Anachron
  3. Join Date: Aug 2015
  4. Posts: 16,256
  5. Rep Power: 684030
Originally Posted By AWSbruh⏩
Should I pay off my mortgage early at a 2.6 interest rate or put the extra cash in the market. Srs
Short answer : Right in the market.

Long answer?

Give me the numbers and I'll run them.

I need :

Purchase price
Amortization period
Interest rate
How far you are into the mortgage currently
How much extra you are putting down.

Disclaimer : I am not, in any way shape or form, a financial advisor. Anything I post iTT is just personal opinion and should not be relied upon when making financial decisions.

post 1701360033 05-21-2024, 08:17 AM
-
#53
  1. donblaximus
  2. Registered User
  1. donblaximus
  2. Registered User
  3. Join Date: Jul 2010
  4. Age: 50
  5. Posts: 12,396
  6. Rep Power: 70954
Originally Posted By AWSbruh⏩
Should I pay off my mortgage early at a 2.6 interest rate or put the extra cash in the market. Srs
2.6 interest rate answer almost always = do not pay off.
post 1701360063 05-21-2024, 08:18 AM
-
#54
  1. John L
  2. Make that coffee to go
  1. John L
  2. Make that coffee to go
  3. Join Date: May 2006
  4. Location: Brookhaven, New York, United States
  5. Age: 37
  6. Posts: 39,759
  7. Subscribers: 3
  8. Rep Power: 233001
Originally Posted By DuracellBunny⏩
If somebodywantsto pay it off early they should.But, they should do so in the knowledge that they are doing it for psychological reasons, not financial ones.

I personally paid cash for my house, because Iwantedto. I also rarely involve myself in the market, as I prefer to reinvest in things that I directly control.

On paper, I would have been financially better off doing otherwise, but I don't need the extra money and did so in full knowledge that I was effectively paying a premium to do so.
This, I am paying extra towards my mortgage every month just because I want the peace of mind getting the loan paid off asap. I know I could be doing just as well financially if not better by putting that into an investment account, but I'd rather have the burden of a mortgage off of me as fast as possible.
post 1701360203 05-21-2024, 08:21 AM
-
#55
  1. Anachron
  1. Anachron
  3. Join Date: Aug 2015
  4. Posts: 16,256
  5. Rep Power: 684030
Originally Posted By donblaximus⏩
2.6 interest rate answer almost always = do not pay off.
This.

Guaranteed return funds will beat that these days, I think ( I don't dink around with money market stuff ).

post 1701382603 05-21-2024, 06:32 PM
-
#56
  1. Anachron
  1. Anachron
  3. Join Date: Aug 2015
  4. Posts: 16,256
  5. Rep Power: 684030
Interesting how miscers shy away from a thread as soon as there are actual numbers posted.

post 1701383073 05-21-2024, 06:44 PM
-
#57
  1. r32gojirra
  2. Registered NEET
  1. r32gojirra
  2. Registered NEET
  3. Join Date: Feb 2013
  4. Location: East Coast, Australia
  5. Posts: 39,465
  6. Subscribers: 6
  7. Rep Power: 590937
Originally Posted By Anachron⏩
Interesting how miscers shy away from a thread as soon as there are actual numbers posted.

Idk what you’re waiting for tbh

Most of the responses here were agreeing with you

With a small amount qualifying their agreement by noting that they understand what they do is irrational, but they do it anyway for some undefined “psychological” benefit

I think everyone understands the fundamental point though
post 1701385103 05-21-2024, 07:32 PM
-
#58
  1. Anachron
  1. Anachron
  3. Join Date: Aug 2015
  4. Posts: 16,256
  5. Rep Power: 684030
Originally Posted By r32gojirra⏩
Idk what you’re waiting for tbh

Most of the responses here were agreeing with you

With a small amount qualifying their agreement by noting that they understand what they do is irrational, but they do it anyway for some undefined “psychological” benefit

I think everyone understands the fundamental point though
There are a few low socioeconomic peasants who have been avoiding this thread like the plague...

One doesn't have to wonder why.

post 1701385253 05-21-2024, 07:35 PM
-
#59
  1. r32gojirra
  2. Registered NEET
  1. r32gojirra
  2. Registered NEET
  3. Join Date: Feb 2013
  4. Location: East Coast, Australia
  5. Posts: 39,465
  6. Subscribers: 6
  7. Rep Power: 590937
Originally Posted By Anachron⏩
There are a few low socioeconomic peasants who have been avoiding this thread like the plague...

One doesn't have to wonder why.

You have the causation backwards though

They don’t avoid challenges to their world view because they are peasants

They are peasants because they avoid challenges to their world view


If I had been so close-minded when I joined the forums 12 years ago I’d probably have broken my back and ruined my knees. However actually listening to the advice from actual lifters on here (ikr) helped me progress to bigger lifts more safely and stop spinning my wheels at best, risking serious injury at worst
post 1701385393 05-21-2024, 07:37 PM
-
#60
  1. Anachron
  1. Anachron
  3. Join Date: Aug 2015
  4. Posts: 16,256
  5. Rep Power: 684030
Originally Posted By r32gojirra⏩
You have the causation backwards though

They don’t avoid challenges to their world view because they are peasants

They are peasants because they avoid challenges to their world view


If I had been so close-minded when I joined the forums 12 years ago I’d probably have broken my back and ruined my knees. However actually listening to the advice from actual lifters on here (ikr) helped me progress to bigger lifts more safely
Chicked or egg, matters not.

The feeling of discomfort they get upon seeing the numbers does.

Quick Navigation Top Misc
Bookmarks
Digg.com
Digg
del.icio.us
del.icio.us
Stumbleupon.com
StumbleUpon
Google.com
Google
Facebook.com
Facebook
Posting Permissions
  1. You may not post new threads
  2. You may not post replies
  3. You may not post attachments
  4. You may not edit your posts