All Forum Posts by: James Wiggles
James Wiggles has started 1 posts and replied 1 times.
Greetings! Requesting feedback in regards to our current mortgage. May you please share your preferred COA along with any helpful information (pictured below). Thank you.
SPOUSE A believes majority of monthly mortgage payments is allocated to interest (±90% interest, ±10% principle)(amortization interest table). Growth of assets shall not outperform current 90% monthly interest on current $665,000 mortgage principle. Once mortgage paid off, gained income may then be reinvested into assets placing finances in a better overall position long term.
SPOUSE B believes utilizing mortgage loan to purchase rental property shall increase overall income. Increased income and holding onto existing brokerage accounts shall allow for $665,000 mortgage to eventually be paid off placing finances into a better overall position long term.
Marriage is about accepting each other with the shared goal of winning together!