Have 50K to invest (put somewhere) and I'm new to investing--Pay down mortgage or invest?-- Any advice?

[Grog]

I have an extra 50K I need to park somewhere/invest.

I am considering seeing a financial adviser but I am also considering paying down my mortgage.

I have a 500K mortgage at about 4% (I pay interest only every month and am not paying down any principle). House has gone down a bit in value since 2007 (bought it for 695K) probably worth $620-645K now.

Any suggestions on whether its better to put it in the markets or pay down the mortgage?

 

[mjh12795]

Put it on the phillies to win the world series.

 

[CHOPTALK]

dude, regardless what you do with the money you need to pay down that principle on the house if at all possible.

 

[Coaster]

Paying down a mortgage is usually never a bad idea.
Different times but, I would pay it down as long as you have substantial equity now.

 

[FadeMeToWin]

Housing market not showing any signs of recovery. Don't get upside down on an interest only loan.

 

[snoop]

You might be better off refi/ pay down your current mortgage.

With good credit score, you can lock in 15 yrs fixed rate @3.30%.

Shorten the life of the mortgage will save you more money in the long run than investing in this rigged casino.

Put it on the phillies to win the world series.

 

[snoop]

or you can do 20-yrs fixed @3.75%

excluding tax/insurance, for a mortgage of $450K, monthly payment is $2,600 on 20-yr 3.75% fixed vs. $2,100 on 30-yr ARM.

 

[gmenknicks]

I have an extra 50K I need to park somewhere/invest.

I am considering seeing a financial adviser but I am also considering paying down my mortgage.

I have a 500K mortgage at about 4% (I pay interest only every month and am not paying down any principle). House has gone down a bit in value since 2007 (bought it for 695K) probably worth $620-645K now.


Any suggestions on whether its better to put it in the markets or pay down the mortgage?

What market are you in that has held value so well??? You are the definitely the exception

 

[Grog]

What market are you in that has held value so well??? You are the definitely the exception

I'm a partner in a privately held corporation. My house is in a suburb of Boston with a great school system (although I don't have any kids).

 

[Time2shine]

Grog,
Take a simple dime, buy xxii and hold on to it till spring. Look me up at that time and take me to dinner. Enjoy!

 

[Grog]

Grog,
Take a simple dime, buy xxii and hold on to it till spring. Look me up at that time and take me to dinner. Enjoy!

What's that company about? Smoking cessation products?