is investing now the best thing to do wih our savings ?? looking to pay off 4000pm on a 350000 morgage for the next 2-3 yrs..pls let me know of all hidden costs ..
Hi Aisha,
If your asking questions related to the economic future of a country, try a fortune teller.
If you are asking for hidden costs, then maybe you should research and perform due diligence.
Educate yourself, stop relying on people to tell you what to do!
A good start is reading some of Steve's books, although not all up to date with the current market, you will learn a solid base.
Good luck,
Miike
Have you tried looking online at some of the bank websites?? They all have calculators to figure out repayments and the impact of extra repayments. As for extra hidden costs it depends on your loan. Some loans have heaps of extra costs, some none.
Another place to start is on a budget….Start estimating and grow the budget…don't forget unexpected charges and insurance.
Cheers,
MiikeHi, Aisha
I assume the mortgage is for your home.
First – If you have a redraw or 100% offset account facility, I would suggest you put your savings into that first. You save on interest, and the 'savings' is not taxed at all.
Second – to find out what hidden cost there are, you have to be specific with this forum. What hidden cost are you talking about? Exit cost? Redraw cost?
Third – The fact that you are asking what to do with your savings means you have not spent enough time educating yourself as to what area of investing (Shares, property, minerals, etc) you want to do. Perhaps you should consider Suggestion 1, then spent 6-12 months educating yourself with books and frequently this forum to learn more; that is if you are really serious about financial wealth management.
If investing was so easy, than everyone would be rich by now.
Regards
Daniel
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