Best of 2023 #3: What should be your priority: repaying your home loan or invest?
Are skyrocketing interest rates making you question your investment strategy? I'm Stuart Wemyss, and on the Investopoly podcast, we tackle the dilemma facing many investors today: whether to pump surplus cash into investments or chip away at that home mortgage. As we bid farewell to the comfort of low interest rates and brace for the impact of significant hikes, this episode guides you through the emotional and financial intricacies of debt management versus investment growth.
Bearing witness to history's lowest interest rates, many of us are now reeling from the sharp climb, questioning our next financial move. Join me as we dissect the implications of a 5.8% home loan interest rate on your cash flow and compare the long-term benefits of extra loan repayments against the potential returns from growth investments. We'll navigate the complexities of after-tax returns and savings, helping you make an informed choice to secure your financial future amidst the current economic landscape.
To subscribe to Stuart's blog: https://www.prosolution.com.au/stay-connected/
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