Pay off home early, or save/invest?
Don’t even ask this question until you’ve covered these bases:
You have a robust emergency savings account and paid off high-interest loans like credit card and “payday” loans.
You’ve carefully considered retirement plan matching funds (if available) and you’ve reviewed your finances for balance: investment diversity and values-orientation through regular, automatic-pay charitable giving.
- Emergency savings account: three to six to nine months of expenses, in an easy to access savings vehicle
- Pay off high-interest debts
- Contribute to employer-matched retirement funds
- Review for diversity and regular, automatic charitable giving
- Pay off other debts
Now — Pay off the home mortgage, or save? We’ll walk through the steps in Part II for what works best for YOU and your situation.
Tune in to www.CashUniversity.ORG for Part II. See you then!