We've all done a ton of reading trying to determine if we should pay off our residence or invest more in the market. My question is more along the lines of "Should I refinance in order to improve my cash flow?
I currently have a 15 yr. 2.85% loan. Current balance is in the $113k range. I could refinance and probably improve my annual cash flow by approx. $4,000 per year ($335 per month) if I sign the paperwork on a 30 year loan at 4%. I'm trying to figure out if this is a good idea, since I want to FIRE ASAP.
Other details...Investable assets are currently 1.3 million. My pre-tax expenses (post-fire) are estimated at between 55k-65k. Income from my investment properties should cover taxes. My total net is just over 1.5 million.
I would appreciate your thoughts...
I currently have a 15 yr. 2.85% loan. Current balance is in the $113k range. I could refinance and probably improve my annual cash flow by approx. $4,000 per year ($335 per month) if I sign the paperwork on a 30 year loan at 4%. I'm trying to figure out if this is a good idea, since I want to FIRE ASAP.
Other details...Investable assets are currently 1.3 million. My pre-tax expenses (post-fire) are estimated at between 55k-65k. Income from my investment properties should cover taxes. My total net is just over 1.5 million.
I would appreciate your thoughts...