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Reply to "Taking out a second mortgage to buy stocks "
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[quote=Anonymous][quote=Anonymous]DH is convinced this is a brilliant move and has initiated a second mortgage on our house. $300K 30-year fixed APR at 8.49%. This gives us $950K debt total on a $1.3M house. Wants to buy in to AI stocks before it is too late. Is everyone else doing stuff like this and I’m just overly conservative? This seems like a bad move. [/quote] Math is hard, and while the stock market over time will produce returns in excess of a savings account your DH has not thought this true. Here is some data on past market performance - https://www.sofi.com/learn/content/average-stock-market-return/#:~:text=Average%20S%26P%20500%20Return%20for%20the%20Last%2030%20Years,%25%20when%20adjusted%20for%20inflation). You will be taking on debt in exchange for very little potential gain. Better off just investing a little bit every month in an index fund and watch it grow over 30 years. [/quote]
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