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Updated over 7 years ago,

User Stats

117
Posts
12
Votes
Cali Skier
  • Oklahoma City, OK
12
Votes |
117
Posts

Financial Vehicle to help me pay off my house quickly?

Cali Skier
  • Oklahoma City, OK
Posted

Hi All,

Just got into the business and just got my first house rented.  I have a 30 year loan I want to pay off in 15.  I am wondering what strategies there are out there to do that.  

Is it possible to save say $200 a month in the stock market some way, such that in 15 years (or when the value reaches the payoff amount) I can take it out and not pay any taxes on it?  Is there a way to do this?  Right?, so the interest earned would normally be taxable, but I am using it to pay off an investment, so I am looking to see if I can avoid the taxes.  Kinda like a the 1031 exchange concept where if I were to sell this property and buy another in x days I do not have to pay taxes.

Is this possible?  Is there a better way, another way? 

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