Why I won't sell investments I bought for my home's down payment - Business Insider

United States News News

Why I won't sell investments I bought for my home's down payment - Business Insider
United States Latest News,United States Headlines
  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 51%

The possibility of having to pay an extra $50 to $100 on my mortgage each month is annoying. But in 10 or 15 years, missing out on the possible growth of those investments will irk me more

. While it can be cancelled once your home's equity reaches 20%, it can add to your monthly costs in the meantime.

I'm so close but so far away from avoiding it. Racking my brain for how I could scrape together an amount that's so small yet so hard to come by, I remembered that I have an investment account worth about that much from my first foray into investing. I no longer use the brokerage account that I opened through a buzzy app a few years ago, but the value has grown. It's an account where investments can be bought or sold at any time, so I could sell these investments and take the cash.

For a few minutes, it seemed a tempting thought — it would save me five months worth of PMI, or $500 if my PMI is on the high end of the estimate. But I won't do it for several reasons. The best place to keep cash that you want to use in the next few years is a savings account, period. I should have simply saved the money instead of investing it.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BusinessInsider /  🏆 729. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inside the 20,000-member trading community started by college students - Business InsiderInside the 20,000-member trading community started by college students - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »

Inside Oprah & Stedman Graham's 36-Year Romance and Why It WorksInside Oprah & Stedman Graham's 36-Year Romance and Why It WorksAmid the 2020 quarantine, Oprah Winfrey and Stedman Graham's relationship is stronger than ever.
Read more »

A couple who bought a home in cash sees the advantage of a mortgage - Business InsiderA couple who bought a home in cash sees the advantage of a mortgage - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »

British home sales hit record after lockdown, Rightmove saysBritish home sales hit record after lockdown, Rightmove saysBritons bought and sold a record number of homes between mid July and early August as pent-up demand from the coronavirus lockdown and a desire to leave London bucked the usual summer slowdown, industry data showed on Monday.
Read more »

Saudi Arabia's $300 billion wealth fund ditched Facebook, Disney, and Boeing stocks, and poured billions into ETFs in the second quarter | Markets InsiderSaudi Arabia's $300 billion wealth fund ditched Facebook, Disney, and Boeing stocks, and poured billions into ETFs in the second quarter | Markets InsiderSaudi Arabia's sovereign wealth fund, which is among the largest in the world, released investments it bought and sold in the second quarter in ...
Read more »

Business Insider webinar with McKinsey, Bain, and PwC - Business InsiderBusiness Insider webinar with McKinsey, Bain, and PwC - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »



Render Time: 2025-02-08 12:59:39