Pay off Mortgage or Invest Funds
I am selling a rental property and should net about $200,000. Should I pay off my personal mortgage of about $82,000 at 3.625% or invest the money? If I invest what do you recommend for the best yield. I would like to keep some liquid to do some updating of my home.
Terry Says
This is a perfect time for an overview of your entire financial situation and goals. (And don’t forget, you might need some money to pay taxes!)
Read this to find a fee-only FIDUCIARY advisor you can trusts: https://www.terrysavage.com/pam-krueger-wealthramp/
Any investments should be done in context of your entire financial picture.
And in the meantime, before making any big investment decisions, why not just put most of the money in T-bills, and leave the rest in a money market account in a bank. Read this:
https://www.terrysavage.com/t-bills-beat-cds-2/
I wouldn’t be in any hurry to pay down that low-rate mortgage!
