accountingsucks
Recycles dryer sheets
- Joined
- Jan 28, 2006
- Messages
- 346
Here's my situation
30 years old
Mortgage - 45,000
Savings account - 50,000
Retirement accounts - 35,000 (yea pathetic)
I am planning to pay off my mortgage in a couple of months which would free up another $300 a month for me. I am very debt averse and do not want to hear arguments about investing this rather than paying off the mortgage. I also live in Canada so I get no tax deduction from my mortgage.
After all my expenses I will be able to invest approximately $3000 per month and I plan to do so. Currently besides my work retirement accounts, all my investments are with one of my bank's mutual funds. Should I remain with my bank and invest in their family of mutual funds? Can anyone in Canada recommend a good mutual fund company as an alternative? Should I maybe go see a financial planner and work with that person exclusively? I am not sure what my next step should be. My goal is to retire at 50.
30 years old
Mortgage - 45,000
Savings account - 50,000
Retirement accounts - 35,000 (yea pathetic)
I am planning to pay off my mortgage in a couple of months which would free up another $300 a month for me. I am very debt averse and do not want to hear arguments about investing this rather than paying off the mortgage. I also live in Canada so I get no tax deduction from my mortgage.
After all my expenses I will be able to invest approximately $3000 per month and I plan to do so. Currently besides my work retirement accounts, all my investments are with one of my bank's mutual funds. Should I remain with my bank and invest in their family of mutual funds? Can anyone in Canada recommend a good mutual fund company as an alternative? Should I maybe go see a financial planner and work with that person exclusively? I am not sure what my next step should be. My goal is to retire at 50.