We have 2 mortgages. A 30 year fixed 4.3% interest mortgage with payment of 2.9k per month (including escrow) and a 15 year fixed 2.8% interest mortgage with payment of 1.8k per month (including escrow). The 15 year mortgage is for a rental home that brings in 2k per month in rent and we have 10 years/150k owed in this mortgage. We currently have 54k in Vanguard index funds and 84k cash sitting in our bank saving account. Each month, we save between 1.5k to 3k and put them in the saving account. If we keep putting our monthly saving of 1.5k-3k into the saving account, in about 2-3 years, we will be able to save enough money to pay off the 15 year mortgage. Should we stay on this path or take the money in the saving account plus the money we are able to save each month and put them into our vanguard index funds? If we do this, can we sell our vanguard shares a few years later to pay off the 15 year mortgage? Can r/investing provide me some insight?
Submitted August 08, 2017 at 07:16AM by phucahwa http://ift.tt/2vzBTAg
