Congrats. If you have a mortgage pay it of asap. Plan your garden by season. Look for heavy equipment auctions you can get good stuff fairly cheap
Do NOT pay off your mortgage! That is the stupidest thing you can do when the dollar is about to collapse, or at least go into very high inflation. You want as much low interest debt as you can carry.
People are too quick to give the advice 'pay off your mortgage as soon as possible' considering the interest is a tax write off.
Hypothetical that isn't financial advice:
So you put an extra 200/month towards your mortgage and you end up saving 30-50k depending on how much you borrowed and what your interest rate is. But at the same time it took 20-30 years to do this and your money is completely inaccessible during this time. You're saving money but you're not getting a lower monthly payment out of the deal unless you refinance. If you refinance the ratio of interest to principle reverts towards what you started with on your first mortgage. You're saving money on the interest but all of the equity in your home is 100% yours anyway so you're not getting an ROI and your money is trapped in an asset that requires taxes and maintenance to maintain. If you're not holding your property 20-30 years you've essentially just put money into an account you can't access.
Then also consider the 30-50k are today's dollars. If the USD magically keeps its prior rate of inflation:
1991: 30k is now 60k 1991: 50k is now 100k 2001: 30k is now 46k 2001: 50k is now 77k
Now imagine instead of dumping money into a low interest debt you instead put money in something that tracked with or beat inflation, then turned around and pumped the money you would have saved on the mortgage with an extra 200/month as a remodel just before you moved out. So you do your kitchen and baths, floor, paint, new SS appliances, roof if you have it, and then sell at an upswing in the market and pocket the equity that all that money you put into the property just gave you because the future home owner doesn't give a shit about the inflated price because they are about to do the same thing where their cash goes elsewhere.
Again not advice.
If it's feasible now he should because inflation is going to skyrocket. We'll be going through the great depression 2.0 and when that happens jews will snap up mortgaged land for pennies. They already said "You will own nothing and you will be happy"
thats assuming they have resources to recoup the debt
If ie your interest rate is 4%, then you get 4% return on all the money to put into your mortgage.
HOWEVER this is "UNEARNED" income. Which means you do not pay a 30% income tax on it like all other forms of interest income. So that's a real 4% return on investment, guaranteed. Unlike that 5% in stocks which is really 3% with risk of losing money instead.
1) Capital Gains is 15%, not 30.
A more realistic look at returns for investments is around 10%. If you have credit card debt you should definitely pay that but you would be a fool to take that money out, pay 15% , then pay off a mortgage with under a 4% rate.
Solid advice, thank you
Depending on the area try to make it friendly for animals deer, turkey and small game. With a garden you will have food no matter what happens. Look into solar and chickens.
For every rooster you need at least three hens. Get goats.
Solar chickens! Now that's a bright idea!
Oh yes, already working on both of those goals.
Not the part about paying off your home. The Dave Ramsey advice is only meaningful if you don't have all the money to pay off the house already (if you didn't, it shouldn't have been purchased). Say you bought a $400k home: First off, if you only have $50k and used that as a down payment, that's pretty dumb... At the very least, you should've aimed much lower, like $250k. But,if your net worth is at or around $400k, you do, definitely use the loan. You pay off your $80k (20%) and then take the rest of the $320k you owe and you put that in something that will net you at least an annual 10% APY. With that, you use your ~$32k to pay off the home. That's all the more the loan should be. If it's much more, it wasn't ever really a great investment. There's also some cases you can get up nearer to 15% APY, if that helps. Either way, if be surprised if you didn't make out with some monthly change that way. 15 year mortgages are the best.
Honestly, buying a home is really pretty easy and too many people make it too complicated. The biggest problem is so many people are too poor to afford one and they only ever aim at the median house price of the area and buy one way before they're ever ready. The real issue is the discrepancy between median mortgages and rent prices. Everyone is way to eager to get a mortgage they can't afford and end up paying way too much money. Don't be like them and make retarded financial mistakes like this...
Just don't forget to pay the jews land tax even after the lands paid off.
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