I hope this is the right place to post this question.
I am 31 years old and own my own business. I have two houses, my primary having a 220k mortgage owing and a rental property with 108k owing -- these are my only current debts.
My RSP contributions are maxed yearly, TFSA fully contributed. My business has a considerable cushion incase things go sour as well.
I have ~ 220k in non registered accounts to invest. My question is whether I should pay off the house (and possibly HELOC the money back out to invest) or just invest it straight up. If invested my horizon for these funds is long (20 years) as my monthly income is easily greater than my cost of living -- and I don't see that changing much.
Currently both mortgages are on fixed 1 yr, so I'm out of them shortly.
I am 31 years old and own my own business. I have two houses, my primary having a 220k mortgage owing and a rental property with 108k owing -- these are my only current debts.
My RSP contributions are maxed yearly, TFSA fully contributed. My business has a considerable cushion incase things go sour as well.
I have ~ 220k in non registered accounts to invest. My question is whether I should pay off the house (and possibly HELOC the money back out to invest) or just invest it straight up. If invested my horizon for these funds is long (20 years) as my monthly income is easily greater than my cost of living -- and I don't see that changing much.
Currently both mortgages are on fixed 1 yr, so I'm out of them shortly.