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Reply to "I’m a single parent and just paid off my mortgage "
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[quote=Anonymous][quote=Anonymous]You could have refinanced at 2.5% and invested with a much much higher return rate. What is the value of your home? What city are you in?[/quote] No, no no! Yes, you can take a low loan and invest to earn more, but that requires a lot of work and has risks. This is a guaranteed return, she no longer has a mortgage payment (just property taxes and insurance). That is huge, especially as a single parent! Congratulations OP!!! This is how you do it! Treat yourself to something this month or next and then continue saving the mortgage payment for the future (for maintenance, or just whatever). Build to a 12 month EF and then invest the rest. [/quote]
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