Two Fools Debate: Mortgage versus investing, annuities, and when to take Social Security
Motley Fool Answers
The Motley Fool
4.4 • 823 Ratings
🗓️ 20 October 2015
⏱️ 24 minutes
🧾️ Download transcript
Summary
Should you pay down your mortgage or invest the money? Are annuities good or bad? Collect Social Security ASAP or wait? We debate the merits of both sides of common money conundrums. Also, we head to the mailbag for your questions on managing your 401k yourself, owning your company’s stock, if it’s ever too late to open a Roth, and more.
Transcript
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| 0:00.0 | This is Motley Fool Answers. I'm Alison Southwick. Robert Brokamp had emergency gallbladder |
| 0:10.1 | surgery, so he's not here today. But the show goes on, and we have Sean Gates and Megan |
| 0:16.1 | Princefield with us. Hi. Hello. They are financial planners and advisors with Motley Fool Wealth Management. |
| 0:23.7 | And in the spirit of the presidential debates, they are joining us to go Mono E. Wumano |
| 0:28.6 | to argue the pros and cons of some of the most common money conundrums we face. |
| 0:33.6 | They're also going to answer your questions about holding employer stock, managing your |
| 0:38.3 | 401k, and more. All that, and like I said, more on this week's episode of Motley Fool |
| 0:44.3 | Answers. |
| 0:46.7 | Cue the serious cable network presidential music, Rick! |
| 0:52.1 | Ladies and gentlemen, thank you for joining us today in the first foolish debate, money fight |
| 0:57.8 | 2015. |
| 0:59.4 | Standing at the podium is Megan Brinsfield wearing a smart pantsuit and sensible shoes. |
| 1:04.9 | We also have Sean Gates doning a non-offensive tie and a patriotic pin on his lapel. |
| 1:12.9 | Both are financial advisors with Motley Fool Wealth Management, a sister company of the Motley Fool. Thank you for joining us today. |
| 1:17.9 | Greetings, citizens. Glad to be here. I hope your communications teams have properly prepared |
| 1:23.7 | you for this debate. Are you ready? Sure. All right. Let's begin. Interest rates are |
| 1:29.4 | so low. Should I bother paying down tax deductible debt, such as a mortgage, as quickly as |
| 1:34.9 | possible, or should I put the money elsewhere where it can grow, such as investing it? |
| 1:39.6 | Megan, where do you stand on this issue? I stand on the side of paying down your mortgage, |
| 1:46.8 | and I have three main reasons for that. The first is that paying down your mortgage is a guaranteed rate of savings, whereas investing |
| 1:52.0 | or doing other things with the money is a gamble. |
| 1:54.6 | And so you don't really know what's going to happen with it. |
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