Investing to make my money work for me!

[ElscottHavoc]

I love people who rent say they are debt free...
The reality is they are indebted to a landlord who makes the rules, passes his mortgage off to them, profits from them and can sell out from under them. You might not be paying interest directly to a bank, but you might as well be. There's option to pay off a rental early, no ability for tax incentives, no long term benefit at all. Shit as long as you're renting you have a security deposit you can't even get access to in an emergency.

Okay, so you walk away from a rental once the lease is up, but then what? Move in with mommy rent free or find another rental that profits from you.

Posted via Topify on Android

 

[ON D BIT]

wrong.....

Wrong? You and I are speaking of two different questions.

The question I answered, does it cost more to pay off the house you own(own it with no mortgage) than it would to keep the mortgage and the tax write off on interest paid?
The answer to this question is no. It cost less to own the home outright and pay no interest on the mortgage and lose the interest tax right off.

However this is not question in your example. Your question form your example, does it cost less to own a home with a mortgage than it does to rent? Sometimes yes, sometimes no. It depends on your location and the economy.

 

[2012GTCS]

Long term investments are great but im thinking the OP meant how to make money now, to pay for his car. Hence, noet long term

 

[Cobra_Tim]

^ No. I was really just interested in how to invest my money now so I can retire early. I want interest to work for me and wanted to know what the most beneficial route that would be.

Keeping up with stocks and such are too much for me. Making a quick buck would be great, but the risk just isn't worth it for me right now because I don't have the "excess cash" to play with high risk investments.