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Invest in mortgage or super? |
Im 46 years old, and have a $100,000 mortgage, should I concentrate on paying that off as soon as I can, or should I be putting money into my superannuation fund, so I can retire when Im 60 years old? The amount I have in in super is only about $20,000 I'd put 15% of your monthly income into the retirement fund monthly, and if you have any extra left over, then apply it to your mortgage to pay it off faster. depends on your taste And innovations jus pick one you like (preferred) Pay off the house first Have a look here. |
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depends on what you are investing the $10,000 into and what the trust items are already in a Roth IRA? T Bills CDs Money market ...If you are a beginner, then you should avoid secondary market, as it is highly volatile, and instead apply into IPOs and Mutual Funds. IPO's for listing gains and mutual funds for long term... No plans from insurance companies or banks. Open a broker acct @ schwab.com & - if insist on hurting yourself by going fixed income - can always buy govt bond funds. Solid equity funds your on... you do realize you are in better financial shape than 99.99% percent of the work force--- i would put 2k more in your roth ira == max you can put is 4k a year= i am assuming you put 2k each year in... A mutual fund is a holding of lots of different stocks. Basically you pay a fund family 1% or so of your total investment to buy stocks for you. By buying lots of different stocks, they limit the... Check Morningstar India or Money Magazine/India. Also a daily paper is IBD India. ...don't speculate with your money when you want to buy a home or a car in the near future. open a CD! Rates are not that bad. And your investment is safe. good luck! ...How old are the children? If they are adults, then she really don't need life insurance. If they are kids, then she definitely needs life insurance. I suggest getting a 20 year term insurance ... |
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