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Paying of the house

Glycomann

Glycomann

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Jan 19, 2011
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Thanks guys that is great advice. Littleguy, she has to be in charge of finances I am terrible at it. I did it for years and had a very low credit rating, with her in charge it is low to mid 800s. This is just one thing she does not get. Potential future interest vs interest she sees on our statement. I think I will suggest we invest it and if she sees the benefit it will click in her head. My son got a $25K loan around covid. He bought bitcoin under $20K. Smart kid

Kyle, Glyco, great info bros. Same here Kyle. Not much opportunity for that now.

Rider, I am 4 years away from retirement. I want to retire early so I can enjoy life a bit before I get too old. My wife is younger and will continue working. We have a close friend we entrust with investments. So far he is on par with the markets or a % point or two higher. If we do it ourselves we just put more $ directly in one of our 457s from our paycheck but we are both at max contributions now.

What's y'alls take on buying land? When I retire I want to move out of town or even to a different state. We want a few wooded acres we can either build or remodel an existing house.
When I retire my net income will increase I will get on my wife's insurance which is reasonable as of right now.
I took a peek at Tennessee not long ago. Right now I'm just hunkered down watching the shit show live. The world is being run by old world psychopaths and we have about one megalomaniacal billionaire they tried to shoot twice and is really pissed off and might be on our side but I'm not sure. But he's making moved and fucking people up and making deals and doing his thing to make the blue and pink haired gender-ific fuck whits lose their shit.
 
fasttwitch

fasttwitch

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Mar 17, 2011
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We have 2.7% interest rate. I tried to explain to my wife we should invest the $38,XXX and get 7% plus on the $ but she does not get it. We will actually be loosing $$$ if we pay off the house. What is y'all's take? Pay off a low interest loan or invest and make $$$? Invest it dammit! It makes perfect sense to me but she does not get it. My wife is super smart with some things and makes a shit ton more than I do and runs the finances in the house and we have done well and save/invest 40% of our gross income.

So...put my foot down and make her mad or let it slide and loose out on 4% interest give or take on almost $40 grand?

My wife and I are super close with 33 years under our belt and I try to defer to her unless it is an emotional decision like this. It is not a huge amount of money in interest. We will invest all the dough we save from not having a house payment after it's paid off. I hate leaving say $1,600 on the table.

You get me right?

What would you do?

I'm on your side.. (we bought this house in December 2020 so we have similar interest rate) . But my wife is like your wife. She is afraid of any risk. She acknowledges the numbers are on my wide, but she feels some unknown unknown could strike.
 
BD Cool

BD Cool

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Dec 1, 2011
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I paid off my house 3 years ago and don't regret it one bit. I could've used that money, invested it and made a little more, but I absolutely hated being in debt. For me, the peace of mind was worth it.

I still have a kid in college and I'm paying for that, which isn't cheap. Once he gets out I'll have some money to play around with, invest, etc.
 
The other Snake

The other Snake

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Aug 19, 2016
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I did a refi at 2.75%. At that number, it's basically free money for us both.

You're idea of investing it is finance 101 but there may be something else at play. She could be thinking, 'Then I own my own home. It's all mine". And there's something to be said for that but it's not a smart financial move.
 
ncsports

ncsports

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Apr 12, 2023
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What advice would you give to a friend?
That is what you should do for yourselves.
 
jipped genes

jipped genes

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Oct 22, 2022
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I still have not spoken with her. I am trying to make it make sense to her. If I could show her how much more $$$ we would have in 2-3 years if we invest other than pay it off I could get it done.
 
BD Cool

BD Cool

VIP Member
Dec 1, 2011
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If I were you, I'd go ahead and pay my house off. You only owe $40 grand or so on it and it would make your wife happy. Save the extra money you now have for a year or two, then invest that... both parties are happy. Either way, best of luck to you.
Maybe your old lady will throw a little 'stank on your hang low' for paying off the house early. :cool:
 
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