On today’s show we discuss a common question: if I have some extra money, should I pay off my debt, or use it to invest? In some cases the answer is easy. If you owe money on a credit card with a 29% interest rate, and your investment will earn 1%, you should obviously pay off your credit card.
But what if your debt is a low interest mortgage, and you think you can earn a greater rate of return on an investment. Than what?
That’s the question we asked Sean Cooper (famous for paying off his mortgage in just over 3 years), and Ted Michalos, all on today’s Debt Free in 30.