They always planned to become financially independent and retire early — and buying a home in cash would bring them one step closer
. Sure, they didn't have to worry about mortgage payments, but they estimate that they've actually lost money on the deal — at least $19,000.About four years after buying their condo, the Keys decided to crunch the numbers to learn what would have happened if they had gotten a mortgage rather than paid in cash. If they had
Looking back to 2016, they assumed a 30-year mortgage rate of 4%, and an annualized return of 11% on the stock market. They would have been borrowing money at a 4% rate, but earning money at an 11% rate. Steven said he hasn't done the updated math, but he suspects that $19,000 would be closer to $30,000 by now.Steven and Lauren would have had a larger investment portfolio right now had they invested more aggressively rather than bought a home in cash, but they don't regret their decision.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Inside the 20,000-member trading community started by college students - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Weiterlesen »
Prince Harry and Meghan Markle Took Out a Mortgage to Buy Their Montecito HomeRather than ask the royal family for financial help, Prince Harry and Meghan Markle took out a mortgage to buy their new home in Montecito, California.
Weiterlesen »
Mortgage delinquencies spike 8% to a 9-year high amid COVID-19 crisis - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Weiterlesen »
American Express to acquire online lender KabbageAmerican Express said on Monday it would buy fintech lender and platform Kabbage in a move aimed at bolstering its cash management offering to small businesses.
Weiterlesen »
Business Insider webinar with McKinsey, Bain, and PwC - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Weiterlesen »
Did Meghan and Harry Move Because He Hates Los Angeles?A new report says Harry and Meghan's dissatisfaction with L.A. and the lack of privacy is one major reason they decided to move to Montecito
Weiterlesen »