Depends on the lender but usually like $4-8k. It’s bet that you won’t want to change the terms of the mortgage again until your balance is lower than it would be otherwise.
PSA for those needing the reminder: Anyone with any savings should be keeping it in a brokerage account (eg Fidelity, eTrade, Vanguard, etc). Savings accounts at banks don’t pay you anywhere near enough interest to keep up with inflation. But with a brokerage you can put that money into a managed fund, which is in turn investing it into the parts of the economy where all the value is going, returning that value to you at like 5%-20% per year. It doesn’t need to be a 401K account connected to your workplace, it can just be a standalone account with regular tax. Even after the gains tax it’s like an order more growth than a savings account and usually outpaces real inflation. Even if the fund’s holdings include things you don’t find 100% ethical, it’s likely what a bank is investing your savings account money in anyway - Just without sharing the profits with you.
Stocks are arbitrary units of corporate account and companies always want new investors, if there’s so much demand for their stock that there’s no supply they just issue more stock. But open-ended mutual funds - The type I’d recommend investing in - Aren’t priced by share because they aren’t traded on exchanges. They’re priced by a similar metric called Net Asset Value or NAV. Investopedia explains it better than I can.
It depends on the fund. Mutual funds have a prospectus that defines exactly how they’ll behave. Some funds leave room for management discretion while others are almost mechanical. They make their holdings public, so you know exactly what they’re composed of. I don’t think there’s much limit on what they could buy, it’s defined more by the strategy of the fund.
Does that answer your question? I wasn’t really even sure what you were asking just doing my best to be informative.
Nah, just buy gold. Gold has consistently outpaced inflation in just about every time period as high inflation leads to a skittish market who invest in gold and cause the price to buoy. Given the current AI bubble combined with the Trump Effect on global economics, my gold investments have made a killing over the last 12 months and continue to perform really well - even with the dip over the last couple of days.
Investing everything in one precious metal is terrible advice.
It’s never going to outperform the market, it literally only helps you in the event of catastrophic market collapse, and if that happens you’re never getting it out. Even if you were somehow able to, you’d only be able to withdraw it in dollars anyway, it’s not like you have a physical pile of gold in a vault with your name on it.
Fair, and that’s why I personally have a portfolio of metals, but gold regularly outperforms inflation - especially in troublesome economic times such as we’re in right now.
Even if you were somehow able to, you’d only be able to withdraw it in dollars anyway, it’s not like you have a physical pile of gold in a vault with your name on it.
Not sure what the rules are where you’re from, but I have a literal pile of gold, platinum, palladium and silver bullion in a safe in my home. Yes, I absolutely have a physical pile with my name on it - when I decide to put a sticky note on it and write my name on it.
I’m hedging that society won’t collapse. You might as well ask why I bother to show up at work - if society collapses the money I earn won’t be worth anything. If I’m betting on society to collapse, I’d be investing in stocking a bunker with weaponry and canned foods. I don’t see that as being a valuable investment yet.
Don’t forget the AI. You have made your house a target. Maybe not now but if you haven’t been careful your real life identity can be deduces automatically from what you have posted.
Interest rates dropping, prepare for inflation, and prices, to surge.
Ill gladly refinance my mortgage, but at what cost?
Closing?
Depends on the lender but usually like $4-8k. It’s bet that you won’t want to change the terms of the mortgage again until your balance is lower than it would be otherwise.
PSA for those needing the reminder: Anyone with any savings should be keeping it in a brokerage account (eg Fidelity, eTrade, Vanguard, etc). Savings accounts at banks don’t pay you anywhere near enough interest to keep up with inflation. But with a brokerage you can put that money into a managed fund, which is in turn investing it into the parts of the economy where all the value is going, returning that value to you at like 5%-20% per year. It doesn’t need to be a 401K account connected to your workplace, it can just be a standalone account with regular tax. Even after the gains tax it’s like an order more growth than a savings account and usually outpaces real inflation. Even if the fund’s holdings include things you don’t find 100% ethical, it’s likely what a bank is investing your savings account money in anyway - Just without sharing the profits with you.
Are there enough shares for everybody to buy? If not and people only own index funds then where do those funds put the money?
Stocks are arbitrary units of corporate account and companies always want new investors, if there’s so much demand for their stock that there’s no supply they just issue more stock. But open-ended mutual funds - The type I’d recommend investing in - Aren’t priced by share because they aren’t traded on exchanges. They’re priced by a similar metric called Net Asset Value or NAV. Investopedia explains it better than I can.
They also buy back shares and reduce their shareholders.
The ROI will drop if companies have too much money.
That just shifts my question. What can those funds buy?
It depends on the fund. Mutual funds have a prospectus that defines exactly how they’ll behave. Some funds leave room for management discretion while others are almost mechanical. They make their holdings public, so you know exactly what they’re composed of. I don’t think there’s much limit on what they could buy, it’s defined more by the strategy of the fund.
Does that answer your question? I wasn’t really even sure what you were asking just doing my best to be informative.
What a fun game. The only way to earn interest is to fund capitalistic ventures that got us here in the first place.
I mean sure, but that’s what the bank does with your money anyway when you put it in a savings account.
Nah, just buy gold. Gold has consistently outpaced inflation in just about every time period as high inflation leads to a skittish market who invest in gold and cause the price to buoy. Given the current AI bubble combined with the Trump Effect on global economics, my gold investments have made a killing over the last 12 months and continue to perform really well - even with the dip over the last couple of days.
We never should have got off the gold standard.
Investing everything in one precious metal is terrible advice. It’s never going to outperform the market, it literally only helps you in the event of catastrophic market collapse, and if that happens you’re never getting it out. Even if you were somehow able to, you’d only be able to withdraw it in dollars anyway, it’s not like you have a physical pile of gold in a vault with your name on it.
Fair, and that’s why I personally have a portfolio of metals, but gold regularly outperforms inflation - especially in troublesome economic times such as we’re in right now.
Not sure what the rules are where you’re from, but I have a literal pile of gold, platinum, palladium and silver bullion in a safe in my home. Yes, I absolutely have a physical pile with my name on it - when I decide to put a sticky note on it and write my name on it.
Why? Like even if society collapses, what are you going to do with it? You can’t eat it.
I’m hedging that society won’t collapse. You might as well ask why I bother to show up at work - if society collapses the money I earn won’t be worth anything. If I’m betting on society to collapse, I’d be investing in stocking a bunker with weaponry and canned foods. I don’t see that as being a valuable investment yet.
Don’t forget the AI. You have made your house a target. Maybe not now but if you haven’t been careful your real life identity can be deduces automatically from what you have posted.