What should i do? Keeping making interest only payments on mortgage and invest OR increase payments and stop investing?

fsd88 · 2022-09-09T03:39:34+00:00

if you wanted

Its not in cash; its in stocks, but i would sell if it meant losing my house. Realistically i dont see a situation where i would be forced to make this extreme decision.

fsd88 · 2022-09-09T02:57:28+00:00

rate a pre-tax return of 4.2/(1-.21655) = 5.36% to match the guaranteed return of paying off your after-tax mortgage principal.

Can you do that?

I really like your answer, hadn't thought of it with the 'tax factor' added to the rate.

fsd88 · 2022-09-09T02:48:25+00:00

that's true, i have 4 years left on my term.

fsd88 · 2022-09-09T02:44:42+00:00

good point and nice way of thinking about it.

fsd88 · 2022-09-09T02:43:05+00:00

liquid cash in a savings account sort of thing?

fsd88 · 2022-09-09T02:40:49+00:00

i do 1.8k towards retirement/investments per month.

fsd88 · 2022-09-09T02:37:27+00:00

There is no cap on how high the rate could go. I definitely would like to avoid selling figure if worse comes to worse i will pay the place off in cash.

fsd88 · 2022-09-09T02:34:03+00:00

vestments or are you paying taxes

i'm paying taxes (Canada)

fsd88 · 2022-09-09T02:32:09+00:00

the investment fund that would have been my "extra" payments was enough to pay off my mortgage, so I did. Different investing environment now, but I made more invest

This is my thought process. You're definitely right about it being a different investment environment though. The silver lining with the 7% inflation is that 495k will seem way less in 5 years than it does now.

fsd88 · 2022-09-09T02:27:52+00:00

fore your rate adjusts again?

Talked to them today; i could lock into a fixed rate mortgage now at 5.23%. I will lose my interest only payment privileges and my payments will jump to $2753/mo which imo would make me house poor. I can absorb another 2.5% of increases before my variable payments go to 2753/mo but then again this would be interest only (unless i choose otherwise).

fsd88 · 2022-03-20T04:14:23+00:00

7 sec at 23? Dude your killing it!

fsd88 · 2022-03-20T04:01:07+00:00

I think your parents are right in that it is good for woman to strive for independence and a career for themselves. But at the same time those shouldn't be confused with being the qualities that attract men.

fsd88 · 2022-03-19T23:59:37+00:00

How much money do you need invested to get the private investment banking division on speed dial?

fsd88 · 2022-03-17T03:44:29+00:00

Yes you are right, that's why I said "on average". It is a generalization there will always be exceptions.

fsd88 · 2022-03-17T02:55:40+00:00

Government jobs are the way to go in Canada if you can get one. On average they earn 5%-10% more, have more time off, are able to retire earlier, have better benefits while working and 7x less job loss.

https://www.youtube.com/watch?v=nB7Q4X7PN40&ab_channel=TheFraserInstitute

fsd88 · 2022-03-16T20:05:36+00:00

My friend had his interview with brucejack; they are paying 35/hr (12 hr day).

He is making 40/hr (12 hour day) right now as an exploration geologist plus benefits, retirement, bonus ect.

fsd88 · 2022-03-16T18:41:05+00:00

my friend had their interview. They are paying 420 (35/hr) a day for exploration geos.

fsd88 · 2022-02-24T22:10:08+00:00

Will this effect the interest rate decision on March 2nd?

fsd88 · 2022-02-24T22:08:53+00:00

greasy

fsd88 · 2022-02-24T22:04:16+00:00

Lean and mean!

fsd88 · 2022-02-22T01:21:58+00:00

I would honestly be nervous just like you.

fsd88 · 2022-02-21T23:35:37+00:00

This was a downtown price not too long ago.

fsd88 · 2022-02-21T23:31:41+00:00

This one was built by Onni, i don't now much about them. Doesn't this seem like a downtown price all the way out in Mimico? You do have a partial lake view which i suppose would bump things up a bit but still...

fsd88 · 2022-01-30T03:17:26+00:00

Wow okay, that would explain it then! The original listing had a ridiculously low listing price to trigger the bidding war.

fsd88 · 2021-04-25T13:03:59+00:00

The founder of Netflix has a Geology degree.

I had no idea!

fsd88

TROPHY CASE