[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 47 KB, 400x365, 1650006288718.jpg [View same] [iqdb] [saucenao] [google]
56197538 No.56197538 [Reply] [Original]

if you come into $1m out of nowhere via a will from someone you barely knew is it a good idea to use it to pay off your mortgage if you have like 300k left to pay off or should you keep paying it off slowly

>> No.56197606

>>56197538
What is your mortgage interest rate?

>> No.56197640
File: 56 KB, 332x459, yelling.jpg [View same] [iqdb] [saucenao] [google]
56197640

>>56197538
will Biden bail out the 500K in taxes you owed from the inheritance like he paid off your student loans?

>> No.56197649

>>56197538
Depends on your situation and if you think we're heading towards inflation or deflation. Some people will say put the 1mil into fixed income and let it pay the mortgage off on it's own. Some will say get out of debt before the real deflationary period begins. Maybe do a hybrid model were you make a big payment like 50% then put the rest into fixed income.

>> No.56197650

>>56197606
5.69%
Australian btw

>> No.56197666

>>56197650
oh yeah pay it off and get into stocks or mutual funds or buy some cheap property to rent out

>> No.56197688

>>56197650
yeah Australia is all kinds of fucked right now so I'd pay it off sell it and move to malaysia

>> No.56197713

>>56197688
Fuck off we are full

>> No.56197729

>>56197650
yeah i'd pay it off and maybe fix it up if you need and sell it

>>56197713
hey at least he didn't say singapore

>> No.56197733

>>56197538
Do you have all your ducks in a row?
Is your investing done thru your personal llc?
Chances are you're not ready.
Pay the mortgage, it's not worth trying to be cute.

>> No.56197742

>>56197688
jungle Asians are not attractive

>> No.56197744

>>56197650
>Australian
You know you're just going to spend it on thai ladyboys no matter what we say

>> No.56197745

>>56197650
To elaborate, if you are able to invest it as a low risk and higher rate than the mortgage, it makes sense to keep the mortgage. In this case, the mortgage rate is pretty high already, and difficult to find a low risk investment at a higher rate, then you should pay off the mortgage.

It is also irrelevant if it comes from someone you barely knew.

>> No.56197750
File: 739 KB, 220x220, 1687103254474185.gif [View same] [iqdb] [saucenao] [google]
56197750

>>56197744