GIC's are closing in on 5% FAST
- Thread starter Mfg Eng
- Start date
Pay down your mortgage. For certain imo
My pizza pizza stock, and Alimentation Couche-Tard are doing great. Good growth with some dividends.
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Depends.
What is the household's yearly income?
What is owing on the mortgage?
What is the market value of the property?
How old are the parties on the property?
What are your retirement goals?
Do you have kids and are they responsible?
What other liabilities do you have?
What month in 2025?
The list goes on....
I just looked into these.. Actually pretty impressive!
Thank you
Ya you are right. After I posted my question, I thought to myself there are a lot of variables.
Im Against the grain, At 2.75% I would not put any extra towards the mortgage. Play it out and see how things are in 2025. Take advantage of inflation, I posted earlier about PSA paying 5.7% now, (tax free in a tfsa and use your spouses as well if you are maxed) thats a no brainer for me. That goes up or down with inflation and pays monthly. If it goes down then so will your renewal. If it goes up your 5.7% goes up.
Another way to look at it. If you wanna give me a loan at 2.75% I will jump all over it and invest it at 5.7%. Thats alot of leway if it drops. Its not gonna drop 3% overnight, it will take years.
If intrest rates are higher at your time of renewal, dump the cash you made on the principal and bring your payments down at that time.
