Let's say I've decided to pay off my primary mortgage of $145k. It is a 3.25% loan, about 5 years into a refi (so still plenty of interest that is coming off the top of each monthly payment).
Let's also say that I have an extra $1,200 of income left over every month. Since this is a hypothetical, we assume that all retirement accounts are maxed, etc etc. and the $1,200 extra money is actually $1,200 extra money.
Will I save more money by paying that extra $1,200 every month, or should I put $1,200 into a brokerage account and wait until it reaches the payoff amount, then pay it off in one lump sum?
Submitted October 17, 2017 at 12:42PM by fuzzymandias http://ift.tt/2gpur51
