Hi There, I have a homeloan, instead of investing in stocks I am trying to foreclose my home loan. Me and my wife both comes under 30% tax slab. Is this good idea?
We know home loan comes with the benefits of tax exemptions and lowest cost of capital.
From emotional standpoint - Closing early is good!
From pure finance standpoint - It might not be a best way to grow NW over the years.
It’s clearly an individual choice :)
Hi, maybe you can have a holistic view of your finances and see if the decision is good or bad? A financial advisor might to be right person to guide for same. Would you like a free consultation for same? You can reach me!
Use calculator.
Use online SIP calculator to find if you do a SIP OF that amount (equal to your EMI) HOW much will you get in X years (x= number of years your home loan is pending for.
Calculate how much tax your are going to save in x years (x= number of years your home loan is pending for)
Add 1 and 2
How to get out of the debt trap? Should I continue with debt? How to manage my investments?
Age: 23 Yoe: 1.5 TC: 26 lpa
Monthly Expenses: Mutual Funds: 20k (Through Dezerv app) Crypto: 2k (Bloomberg galaxy index) Flat Emi: 25k Car Emi:...
I am a salaried and I have a personal loan emi of 23000 and the loan is pending for 2 more years.
I have an option to close this by paying the complete amount now which would be around 5.5 lakh.
Should I try and close loan first or all...
In case either my wife or I get laid off, we have around 40 months of company stocks to take care of monthly essentia...
