Unless your mortgage is like 8% or more, it would be wiser to put that money in stocks for the long term.
You're borrowing money at (say) 4% to own a home. That's a great rate, why be in a hurry to pay it back if you could earn 8% per year over the next 10yrs in the stock market?
Secondly, I believe we're on the cusp of significant double digit inflation. So your debt will inflate itself away. Put that cash you have now into something that will protect against inflation, that means something that will inflate itself. Stocks aren't a bad choice for that either.
If it turns out to be economic collapse type inflation, well then you might want to spend that money on actual hard things, like firearms, ammunition, food, fuel.
Obviously if you have any credit card debt in the range of 15%, pay that off first.
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> pay extra on your mortgage
Unless your mortgage is like 8% or more, it would be wiser to put that money in stocks for the long term.
You're borrowing money at (say) 4% to own a home. That's a great rate, why be in a hurry to pay it back if you could earn 8% per year over the next 10yrs in the stock market?
Secondly, I believe we're on the cusp of significant double digit inflation. So your debt will inflate itself away. Put that cash you have now into something that will protect against inflation, that means something that will inflate itself. Stocks aren't a bad choice for that either.
If it turns out to be economic collapse type inflation, well then you might want to spend that money on actual hard things, like firearms, ammunition, food, fuel.
Obviously if you have any credit card debt in the range of 15%, pay that off first.