All Forum Posts by: Michael Moreno

Thank you Randy. I'll for sure take this advice. I should know better if I am a finance major haha. I am up 10%, 12%, and 55% on my investment accounts which is way higher than 4.875%. I just thought of adding to the principal would be even better so that I can make money in the markets as well as pay down my mortgage faster.

Hi Allen. Yes, I am really hustling to get ahead financially. I am looking to take the advice of many experienced real estate investors in here and cut back on my additional mortgage prepayment. I figured if I could get a higher return in the stock market or crypto market, which I have done, then I should stop trapping my equity in the house. I can't refinance my mortgage since I don't think that would be ideal since I just closed on the home September 2023. I don't have much equity in it yet.

Okay, I will stop the additional payments. I was expecting a lot of these responses in terms of me de-leveraging and my equity being trapped where as I could go out and invest my money and achieve a higher return on something else. Thank you for the advice David. 

Okay, so cut back on my $1k prepayment. That also does make sense since my equity won't be doing anything in my house. I appreciate the advice.

Dear Community,

I hope this message finds you well. I'm currently faced with a financial dilemma and would greatly appreciate your insights and advice.

Background: I am 23 years old and earn a monthly salary of $3992.00. While I am committed to aggressively paying down my debt, particularly my mortgage, to achieve financial freedom in 12 years, I find myself losing money every month due to my repayment strategy.

Financial Breakdown:

• Monthly Income: $3992.00
• Mortgage Payment: $1608.86
• Additional Mortgage Principal Payment: $1000.00
• Furniture Payment: $500.00
• Water Softener System Payment: $370.00
• Investment Contributions:
  • Coinbase: $500.00
  • Schwab: $500.00
  • TD Ameritrade: $812.50

Current Mortgage Status:

• Remaining Balance: $249,000.00
• Interest Rate: 4.875%

Dilemma: While I aim to invest in various accounts and accelerate my debt repayment, I am burning through my cash at a faster rate than anticipated. I am banking on a promotion in the fall, but without it, I fear I may run out of funds.

Question: Given my situation, what strategies would you recommend? How would you manage finances and investments if you were in my shoes?

Thank you all in advance for your invaluable advice and insights.

 Thanks Jordan!

 I'd love to connect. I'll shoot you a message with all the questions I have. Thank you!

My LinkedIn handle is on my profile. Search me up as Michael Austin Moreno and I will pop up for sure!

 Thank you Sloane!