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Should you invest your money or pay down your debt – if you have extra cash this is likely a question you’ve asked yourself. In this video we address whether you should be investing your extra money or paying off debt
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Is This The Time to Invest Or Pay Down Debt
0:47 – What you can do with your money during a low interest rate environment invest or pay down debt
1:29 – How the kind of debt you have determines the best financial plan for you
2:55 – Investing your money isn’t guaranteed, understanding how risk management affects your investment or debt payoff
5:02 – Understand your financial goals to decide if you should invest or pay down debt
6:39 – The financial education rabbit hole
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41 comments
Thank you for watching! If you enjoyed this video, you should watch – What You NEED To Know Before Refinancing Your Mortgage: https://youtu.be/xtnQCOWBmMc
Get rid of consumer debt and then invest
Debt save, save it's coming
The feeling and satisfaction of being debt free is worth millions dollars. One can't put a price tag on financial freedom and sleeping well at night. Paying off and staying out of debt is the best financial move anyone can make – more so than gambling on stocks and real estate.
Uhhhh PAY DEBT DOWN AS FAST AS YOU CAN LIKE YOUR LIFE DEPENDS ON IT
Thank you Jasprit
Good clip thanks
Never pay interest on a cup of coffee.
Depends on debt honestly. Credit card debt should be paid off ASAP but debt that's used as leverage like in real estate doesn't need to be paid so quickly.
Hey everyone, I have to get this guys channel out there. Check out Fed Observers channel. This guys has the best channel to understand what the fed is doing and how it is affecting the market. Still love you Jaspree
I think that you should touch on bullion as an investment.
Wise man. Thank you.
Invest first to pay off debt. I got into debt in college like most which increased later. But I paid it off just recently though. It wasn't easy but real estate finally came true. Then enteed blockchain which has proven useful the last 3 years
It all depends. If the 'debt' is something like a consumer loan, then just pay it off. Those loans are signs of spending more than you earn, and you probably do not have what it takes to manage money. Money savvy people do not have that kind of debts in the first place.
I lost my job with Qatar Airways in 2018 went into debt started investing 2019 and paid off all of it via profits off investing before pandemic. Investing is a great choice I made.
"Gold is the money of kings, Silver is the money of Gentlemen, Barter is the money of peasants and Debt is the money of Slaves".
Investing is one of the best ways to achieve financial freedom. For a beginner there are so many challenges you face. It's hard to know how to get started. Trading the forex market has really been a life changer for me. I almost gave up on crypto currency at some point not until I got a proficient broker Mr Ryan Brooks to handle my trades. I made more profit than I could ever imagine. I'm not here to converse much but to share my testimony; I just made my withdrawal of 7.5 BTC from an investment of just 3 BTC. Thanks I’m really grateful especially during the lockdown. I have been able to make great returns trading with one of the best platforms around. I discovered I made more income better than what my current job pays. I urge you to take bold step by giving the bitcoin market a trial if you really want to make more money. You can reach him via email (brooksryan535@gmail.com), telegram: @brooksryan22 for assistance.
I understand paying off credit card debt, I have none. That being said I transferred in 2016 $11500 in student loans to a credit card at 14.99%. With the same payment I was able to pay that same loan off in 2 years because those 3.8% student loans compound the interest DAILY. That means every day you pay interest on the loan and the interest they add daily. No wonder people can’t pay their student loans off. While they are in forbearance I have put an extra $5500 towards them.
Don’t forget to pay your self
I don't like money or obsessed with it I just needed it
Debtsoff on insta gram
I made 25k in total thanks to debtsoff on insta
MM im a newbie at this investing. I got some stocks on robinhood and its been doing good. So is my gain is reinvested and do i have to pay taxes on my gains end of the year?
I watch your videos but will thumbs down because i don’t want others to know this
Why not a little of both
@minority mindset – I have an investment property at 3.5% APR since it was my first home. Any suggestions on refinancing this property. Spoke to few lenders and no one is offering anything better.
Invest!!!!
I agree with you with paying down high interest first to eliminate debt but I also would encourage people to pay down their mortgage also. Yes, it's cheap interest they are paying however looking at the amortization schedule over the course of 5 years, people are paying approx. 40k over 5 years on 211k loan. I'd attack that mortgage especially if you are following the 75/25 rule. Following this rule, you'll be able to pay off a 211k mortgage in approx. 3.75 to 4.25 years saving you from paying over 60% interest over the loan term of 30 years.
I started earning extra money aside from my job through Bitcoin Mining.. it dramatically brings the risk down while producing Bitcoin and income for profits..my computer does all the work for mining.
Wife and I are paying off our house and should be done soon! The only other debt we have is a rental house we still owe mortgage on… Thats next and life will be nice without mortgage! Can't wait to not stress house payment!!!
The thing about mortgage is it generally has low interest rate but high interest payments for the first half of term… Hard call
5:12 Raises his hand
There are surplus reasons to continue to grow my stock investments with Mr Lance Bernthal, with the level of progress I’ve attained in a short period of time
its easy alway pay down debt. debt cuts into your profits, your profit goes to the bank. never sell when your porfolio is halfed..
Pay debt… no need to make a video about it ez
left off an important question: what's your monthly cash flow (income)? If you're barely able to pay bills now, paying off debt is the answer 100%. That way you actually have income left over to invest.
I love the way you say "Below!!"
.We paid off the mortgage early. My husband wanted to do that. Since I battled cancer in the past, when I was single and had the mortgage. And recently found another tumor in my kidney. Thankfully, this one was benign. He didn't want me to stress out about the mortgage. In case I had to stop working due to cancer OR any illness. Not having mortgage is a great feeling. And one less thing to worry about.
A lot of videos talk about deciding whether to pay off debt, or to invest. But typically, they only talk about debt like credit card or tuition loan debt. I have medical debt as opposed to the other types. I still wondered if I should keep investing or pay off my medical debt first… over $7,100 worth for a kidney stone. Amazing how much agony, both physical and financial, a tiny thing like a kidney stone can cause.
Anyway, as I prefer to be debt free and stress free over living the high life, I'm going to take the flow chart's advice and focus the bulk of my efforts towards paying off the debt. I'll still invest a little bit with any extra money I make, though. Kind of a compromise.
If you want financial freedom realize what is happening in the stock market…yesterday was a hedge fund correction..you really need to understand what this means. I am so glad to share this kind of information with you.
0:36 I feel personally attacked…
Really good perspective.