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-   -   Extra cash...invest or pay off loans? (http://www.firearmstalk.com/forums/f12/extra-cash-invest-pay-off-loans-37441/)

Poink88 01-26-2011 02:14 PM

Extra cash...invest or pay off loans?
 
This is hypothetical.

Your credit cards are all paid off, have a car & mortgage loan. If you have extra $1,000 (monthly, after you bought your "toys"), how would you use it?

EDIT IN: Assume interest for both car loan and home mortgage is 5%. Also lump savings and ROTH/IRA with investment for simplicity.

cpttango30 01-26-2011 02:17 PM

hookers


10 characters

LightArtisan 01-26-2011 02:21 PM

I'd find a way to blow it on something...

NGIB 01-26-2011 02:23 PM

No debt is a good thing. Other than home mortgages, I haven't had any consumer debt in over 20 years...

winds-of-change 01-26-2011 02:25 PM

Quote:

Originally Posted by NGIB (Post 430016)
No debt is a good thing. Other than home mortgages, I haven't had any consumer debt in over 20 years...

I agree here. Usually the interest you are paying on a debt is higher than any money you'd make investing. Pay off debt first, then invest.

dog2000tj 01-26-2011 02:26 PM

Put half in a retirement account and half in the bank. After 1yr you will have a nice savings and plenty of "fun" money if something tickles your fancy. ;)

You may be surprised at how much you can actually save when disciplined to do so.

cpttango30 01-26-2011 03:11 PM

Am I the only one that likes hookers?

DrJason 01-26-2011 03:13 PM

I would say it depends on the interest rate on the car and home loans. Mortgages are usually "good" debt but that is even debatable these days. If the car loan were one of those 0.9 or 1.9 loans you might still be better investing or paying more on the mortgage if it were a higher rate.

falseharmonix 01-26-2011 03:35 PM

Quote:

Originally Posted by cpttango30 (Post 430052)
Am I the only one that likes hookers?

Tango, we all like hookers. But I think paying for a hooker is like investing in your twig and berries eventually turning black and falling off......

dog2000tj 01-26-2011 03:46 PM

Quote:

Originally Posted by cpttango30 (Post 430052)
Am I the only one that likes hookers?

If that's your thing go for it. Personally I would rather head to a bar, scope out a lonely gal and talk her up, liquor her up and then take her home and fu ... have some fun with her. ;)


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