My man if you are paying down a 3% mortgage I feel horrible for you. you can invest that money and get 5.25% easy, you're doing it wrong. something to consider
Im 2.75% and if I didn't have to I wouldnt pay a dime, and just invest that money getting 2x that on short term TBills
- MiloslavHorava

I get it. I have tried to pitch this to the wife but have been met with resistance. Neither of us is all the well versed though we did do investments back in 2020 that have since more than doubled.

When we were initially doing this payoff plan it made more sense. Now it's not making much sense. What I would like to do is invest the extra that we would be paying towards the mortgage and pay it off just prior to adjustment, assuming the adjustment is really bad. Still trying to change it up.

We have actually de-prioritized the mortgage anyway and are putting it towards our new vehicle that is at 6.9% interest. (frank) these rates.

Expand a bit more if u don’t mind. My mortgage is at 3% got lucky right before the scamdemic. Paid 590 and they have it for over a mil now on Zillow. I told the wife another 1-200k and we’re selling and going to Tennessee.
- nyrangers9479

Simply stated if you can make a higher % return than what you owe, you are netting the difference. so if you make 5.25% and have to pay 3% if your money is invested you earn that 2.25% difference. If your mortgage rate is HIGHER than what you can earn.. then you absolutely should pay down.

Expand a bit more if u don’t mind. My mortgage is at 3% got lucky right before the scamdemic. Paid 590 and they have it for over a mil now on Zillow. I told the wife another 1-200k and we’re selling and going to Tennessee.
- nyrangers9479

Not Milo but if you have a 3% mortgage rate you obviously need to make the monthly payments. But if you are making additional payments, what he is saying is that you'd be better off investing in a risk free rate with that money rather than paying the bank back.

If you pay an extra $10,000 a year on top of your monthly payments for example, you'd be saving yourself $300 in interest that would be accumulating on that $10,000 during the year.

Instead, if you took that $10,000 and invested in something paying 5%, at the end of the year you'd have earned $500, would owe the $300 in interest that you didn't save and come out $200 ahead.

This assumes you put those dollars towards an investment and don't just spend it elsewhere

I get it. I have tried to pitch this to the wife but have been met with resistance. Neither of us is all the well versed though we did do investments back in 2020 that have since more than doubled.

When we were initially doing this payoff plan it made more sense. Now it's not making much sense. What I would like to do is invest the extra that we would be paying towards the mortgage and pay it off just prior to adjustment, assuming the adjustment is really bad. Still trying to change it up.

We have actually de-prioritized the mortgage anyway and are putting it towards our new vehicle that is at 6.9% interest. (frank) these rates.
- JRR1285

Smart to pay down the higher rate on the car loan
Understand about the wife, people for some reason dont like "owing " money and just want to pay it, losing out on taking advantage of these rate arbitrage situations.

Not Milo but if you have a 3% mortgage rate you obviously need to make the monthly payments. But if you are making additional payments, what he is saying is that you'd be better off investing in a risk free rate with that money rather than paying the bank back.

If you pay an extra $10,000 a year on top of your monthly payments for example, you'd be saving yourself $300 in interest that would be accumulating on that $10,000 during the year.

Instead, if you took that $10,000 and invested in something paying 5%, at the end of the year you'd have earned $500, would owe the $300 in interest that you didn't save and come out $200 ahead.

This assumes you put those dollars towards an investment and don't just spend it elsewhere
- SkjeiStadium

Exactly!
We are now officially a finance blog!

Not Milo but if you have a 3% mortgage rate you obviously need to make the monthly payments. But if you are making additional payments, what he is saying is that you'd be better off investing in a risk free rate with that money rather than paying the bank back.

If you pay an extra $10,000 a year on top of your monthly payments for example, you'd be saving yourself $300 in interest that would be accumulating on that $10,000 during the year.

Instead, if you took that $10,000 and invested in something paying 5%, at the end of the year you'd have earned $500, would owe the $300 in interest that you didn't save and come out $200 ahead.

This assumes you put those dollars towards an investment and don't just spend it elsewhere
- SkjeiStadium

And Btw lets say at the end of the year you need that 10k back.. you cant get it.. well you can in the form of a loan form the bank vs your equity but guess what.. the bank will then charge you mkt rate on a loan to get that money out. once its in your house its dead money and it cant work for you, hence why I say pay the minimum if you can make more elsewhere (risk free-ish like gov bonds and bills)

Exactly!
We are now officially a finance blog!

- MiloslavHorava

Can we fight on one of those? take your mortgage and shove it up ya tookus!

And Btw lets say at the end of the year you need that 10k back.. you cant get it.. well you can in the form of a loan form the bank vs your equity but guess what.. the bank will then charge you mkt rate on a loan to get that money out. once its in your house its dead money and it cant work for you, hence why I say pay the minimum if you can make more elsewhere (risk free-ish like gov bonds and bills)
- MiloslavHorava

Issue most Americans are conditioned to pay down debt and don’t realize using excess money on lower interest loans to invest might be beneficial. Depends on people’s financial situation and knowledge really. Good info on here that has been posted

I rent, and as much as Id like to buy, it just doesnt make sense in the current financial market, especially in NYC.

I rent, and as much as Id like to buy, it just doesnt make sense in the current financial market, especially in NYC.
- aecliptic

Tanner-alt!!!!!!!!!!!

Tarasenko to wings

Tarasenko to wings
- picklerick

If Drury doesn’t make some trades this will go down as one of the worst rangers offseasons ever

If Drury doesn’t make some trades this will go down as one of the worst rangers offseasons ever
- TPC

Wade Redden

Put Chytil at right wing on first line and leave it alone

I always try to catch my mail guy,
Tj , on days like this and toss him an ice cold Live Grenade.
- nyrangers9479

Fixed

Tarasenko to wings
- picklerick

A lot of ex rangers there

As is they are probably a top 3 team in the metro. Not sure that’s good enough for Drury to keep his job
- nyrangers2

Top three in the Metro, they just won the presidents trophy, teams are loading up because of the Rangers, you people are dumb, trust the plan

Top three in the Metro, they just won the presidents trophy, teams are loading up because of the Rangers, you people are dumb, trust the plan
- irishgerm

What’s the plan smart man

Simply stated if you can make a higher % return than what you owe, you are netting the difference. so if you make 5.25% and have to pay 3% if your money is invested you earn that 2.25% difference. If your mortgage rate is HIGHER than what you can earn.. then you absolutely should pay down.
- MiloslavHorava

It's not really that simple though because of how mortgages are amortized.

Let's say you have a $500,000 30 year 3% mortgage. If you were paying an extra $10,000 per year towards it, then you would pay your mortgage off in just under 19 years and save ~$103,000 in interest over the life of the mortgage.

If instead of doing that, you invested $10,000 per year into a high yield savings account at 5% interest, then over 19 years, you would earn around $10,000 in interest.

So putting that towards the 3% mortgage would actually be better... it gets even better if you pay PMI and putting the extra money towards the mortgage helps get rid of that faster too. And even better from there if you have a recastable mortgage that allows you to reamortize your mortgage payments whenever you make a large voluntary principal payment, where the bank will basically take your new principal amount and figure out a new minimum monthly payment based off the term you still have left. If you continue to pay down your "old" minimum on the new amount while throwing the difference towards extra principal payments, on top of doing the 10k every year, you will shorten the life of your mortgage by 50% and save significantly more than even the $103,000 in this example.

If Drury makes an irrational decision because fans want a change and signs an over priced past their prime free agent then you have to let the best goalie in the world go, you’re a dumb ass!

Tarasenko to wings
- picklerick

Thought he would get more. Drury is clearly preparing for the 25/26 season. Don’t think it’s a punt of a season, but wouldn’t be surprised to see a trade for a 1RW with 1 year left.

Why not just iron out these extensions now? Only going to get more expensive and leaves too much uncertainty.

Tom doesn't have any real hockey opinions. He never said going into July 1 who he would have liked to see the Rangers sign, besides his obnoxious "let's sign bad players so Drury gets fired take"

Just like he has no solution for the Trouba situation or anything other transaction before it happens. He never says "they should go get XYZ player because if they did that they he would have to be happy about it or own the fact that he was wrong if it doesn't work out

His one opinion is "Drury bad" and we get to be beaten over the head with that opinion non-stop
- SkjeiStadium

Ever think that maybe Trouba’s a johnson

Exactly!
We are now officially a finance blog!

- MiloslavHorava

Cars are a losing investment

What’s the plan smart man
- picklerick

To pay the best goalie in the world condescending a hole

To pay the best goalie in the world condescending a hole
- irishgerm

You called everyone dumb

You’re literally the worst person on here all you do is come here to be a Richard hole and then act like a victim when someone’s condescending