Mortgage
Thank you Terry, my question is I have more than enough money to pay off my mortgage I owe approximately $28,000 and I have at least $60,000 in checking as well as CDs. My day seems to discourage me about paying off the mortgage. My interest rate is 2.8% and the person at the bank seems to think I would be better off putting money into a portfolio which I don’t know exactly how that works. Will I save a substantial amount of Interest by paying off my mortgage? Thank you,
Terry Says
Do NOT pay off that low-rate mortgage! Instead, buy 6-month Treasury Bills with at least half of your savings, staggering the purchase so they mature in different months. Read this:
https://www.terrysavage.com/t-bills-beat-cds-2/
You do this on your own, using your own bank account to link to TreasuryDirect, as explained in the article.
