Quote:
Originally Posted by somaziro  COMPARE
invest 500 a mo + 700 a month (all my extra payments) = 1200 a month over 30 years = $2.7 million. (I would be paying off my debt and mortgage over 30 years so there is no way to invest what I would have been paying since I am still paying it). while this is about 800k more I would end up paying 200k more interest, so difference between approaches is 600k.
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I think there is a flaw in your caculation here. I reconize it because when i crunching numbers to figue this out myself i did the same thing, but i saw the error i made. Take a look at your calculation again. If you dont see your error, update the thread and i will try and explain it. It is a complicated issue, and i touched on it once.
To give you a quick hint, you are double counting your morgage interest....
Adrienne
