this post was submitted on 07 Nov 2024
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Too embarassed to tell anyone I know IRL, but am excited for my new future. Been throwing alot of money with small things. PC, alcohol, movies (and im ashamed to say, funko pops). Recently i took the plunge and cut out alcohol in an attempt to get my life together, and i feel like i have a whole new start.

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[–] [email protected] 8 points 2 weeks ago (2 children)

I hope you're not keeping that on your bank account. Make it work for you. I've put all my savings into diversified, low-cost index funds.

I recently reached a point that I could pay off my house if I wanted to. I'm really tempted to, but I think I'll just keep it invested.

[–] Peppycito 8 points 2 weeks ago (1 children)

Is it giving you a higher return than you pay in interest? Personally I'd pay off the mortgage.

[–] [email protected] 9 points 2 weeks ago (1 children)

Spy has been yielding double digit returns for years... That's definitely bigger than most mortgages in the US.

[–] Peppycito 1 points 2 weeks ago (1 children)

Then you should get rid of your mortgage payments and put it all in that.

[–] [email protected] 4 points 2 weeks ago

Huh? If my rate of return > mortgage rate it makes more sense to be leveraged. If my mortgage rate was 10% I'd be paying off my mortgage.

[–] [email protected] 2 points 2 weeks ago (1 children)

Eh...for a lot of people it makes more sense to keep your money in a high yield savings account instead.

[–] [email protected] 2 points 2 weeks ago

For your emergency fund maybe but the interests are a lot higher when invested into something like S&P500. Failing to do so means leaving money on the table.