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Hi Ali: Here is what you said: "And a mortgage gives you the luxury of not having to pay for your house all at once; so you can take the money you would have had to pay and invest it for a higher rate of return than the rate of interest you're paying on your mortgage. Say your mortgage costs you $600 a month. Take another $50 a month and save it. That's $600 a year. If you invested that $600 over 30 years, the life of the typical mortgage, at an annual compound rate of 10 percent, you'd have $113,966.27". My question to you is: Who pays this kind of rate of interest that is highter than mortgage interest? I have seen that most of the fixed deposit CDs pay you only 2% and the minimum mortgage interest is around 5.5%. So based on your analysis I have to find an institution or a way to invest money where they would pay me atleast 6% interest. Can you tell me ways to do that or direct me to the companies who pay this kind of interest? Is putting money in ROTH IRA good option? My Roth IRA company pays me 6% for the first year...but the problme is that the money can not be accessed if there is a need. Thank you. There is no guarantee of return on the mutual funds that claim to pay higher rate of interest on average basis...so I do not want to invest in them. Thanks you. Anjana,, abhatt@fgcu.edu
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