Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Cash sitting in the bank -- invest it or pay down the mortgage?

Jagger · 02-27-2008, 08:34 AM

Well for me I decided to pay down the mortgage. I've been fairly aggressive with this to the point of being mortgage free in less than 6 years now. I think, overall, I've knocked about 10/11 years off the mortgage so far. However, I didn't go the lump sum route, just increased the frequency (weekly) and bumped up the payment. I then used the equity to get a LOC for a vacation property. I do have some RRSP's, of course, but I haven't really focussed on them yet. Paying down my mortgage has always been my main priority.

02-27-2008, 08:34 AM	#33
Jagger First Line Centre Join Date: Jul 2003 Location: Red Deer now; Liverpool, England before Exp:	Well for me I decided to pay down the mortgage. I've been fairly aggressive with this to the point of being mortgage free in less than 6 years now. I think, overall, I've knocked about 10/11 years off the mortgage so far. However, I didn't go the lump sum route, just increased the frequency (weekly) and bumped up the payment. I then used the equity to get a LOC for a vacation property. I do have some RRSP's, of course, but I haven't really focussed on them yet. Paying down my mortgage has always been my main priority. __________________ "It's red all over!!!!"