Viewing a single comment thread. View all comments

asatrocker t1_jdt5i44 wrote

Reply to comment by [deleted] in Preparing to buy our first home by [deleted]

Is your investment account earning more than the interest rate on your debt? If not, you should liquidate and pay off your debt. You’re losing money otherwise

144

[deleted] OP t1_jdt5mdo wrote

[deleted]

−102

Eatsnocheese t1_jdt6bn5 wrote

Wait. I want to make sure I understand. Your investment account is earning more than 26%?

89

[deleted] OP t1_jdt7xtr wrote

[deleted]

−121

Coolyajets t1_jdt8xnc wrote

Wtf are you invested in? Nothing gains like that unless it is ridiculously risky. If it's risky, you do not want to invest money that you will need in a year in it.

96

Quiet-Road-1057 t1_jdtcype wrote

There’s literally no possible way. The best performing fund last year went up 6% and the top performing fund on a 3 year average went up 16% on average.

Liquidate your investments, pay your credit card debt.

86

Skeptical-_- t1_jdu9mkb wrote

That’s easily possible if they bought a few specific stocks. Not that’s necessarily a good idea but very possible it happened.

6

Quiet-Road-1057 t1_jdv4ujr wrote

You’re absolutely right, but in this event OP is 1) not investing, he’s gambling and 2) he’s on a massive stroke of good luck that OP should not be expecting to continue.

2

marvinvp t1_jdtl8k9 wrote

I'll just add to the chorus: you should sell all your investments and pay off your CC debt. Don't fool yourself thinking that you can sustain 26% post-tax returns, not even Wall Street pros can claim that. Maybe you were able to double your money over the past 3 years with some risky bets, but you likely won't keep it up. It's like going to a casino and betting on black, winning, and then thinking that you should just keep doing it.

36