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Unless what you are doing with the money produces more profit than the interest is costing you, paying down your highest-interest loans is generally a good low-risk choice. But also remember that common advice is that you should have 6 months' to a year's worth of essential spending in low risk accounts (I use CDs) to minimize the risk of an emergency forcing you to cash out equities at possibly unfortunate prices. That buffer amount should probably include loan payments.

keshlam
– keshlam

2025-12-31 18:36:02 +00:00
Commented 17 hours ago
Not only do you have to be itemizing to realize a tax savings on mortgage interest, you're only really getting a break on the amount by which your itemized deductions exceed the standard deduction. Given the $10K SALT limit (pre-2025), very few people could actually save much money by deducting mortgage interest on a low-rate loan like 3% (or less).

nobody
– nobody

2026-01-01 02:31:25 +00:00
Commented 9 hours ago

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