Understanding your 30 year fixed rate mortgage when the rate is under the inflation rate. You want to not pay off the mortgage early to pay back less over the life of the loan. Let me show you what it looks like….(read more)
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First off I enjoy your content, I came across your interview with Lynn Alden a couple of days ago, so I subbed and have been bingeing.
Second I have a question. How does this idea translate to REITs and also residential RE vs commercial RE? Thanks. Cheers!
If on top of that you do it up the property, then this will even amplify the effect?
I just refinanced my single family residence to a 2.75% for 30 years. Loan amount is $515,000. Since the rate of inflation is higher than my interest rate, you’re basically saying that paying it off quicker isn’t advantageous because the rate of inflation is basically paying it down quicker for me in some aspects. My question is I’m still paying interest on that large loan amount. My savings account is maybe 1.5% so it’s low and I don’t want my cash losing value. So why wouldn’t I just make a principal payment to my mortgage to save on interest on the life of my loan?
Black rock is buying up residential neighborhoods.
Liked that a lot.