Personal Finance
The 8 Insights you may Realize when you try paying off a $255000 Mortgage Debt in 3 years
By Investment Moats  •  December 6, 2015
Sean Cooper is a weird guy who did something weird. While normal folks like us buy a house, we make a smaller down payment and take years to pay off our mortgage. For some people they will drag it out to 25-30 years for as long as possible. For Sean, who lives in Canada, he bought a $425,000 house and took on a mortgage debt of $255,000. He set himself a target to pay off the mortgage as soon as possible. All it took him was 3 years to do that. However, this involves a fair bit of sacrifice:
  1. He works as a $75,000/yr  full time analyst in a pension firm
  2. Concurrently, he works on weekends and evenings as a free lance financial writer
  3. Concurrently, he works as a $13/hr clerk in a meat department in a grocery store (note that he is a vegetarian)
  4. His home consist of 3 ...
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By Investment Moats
Investment Moats is set up by Kyith Ng and have been around since 2005. He aims to share his experiences making sense of money, how money works and ways to grow his money. It hopes that by sharing his experiences, both good and bad, season investors can advice and critique his decisions and new investors can learn from them and find their own style ...
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