I don't like debt, so I aim to pay down my mortgage as quickly as possible (~2.5 more years). I max RRSP/TFSA first and invest in CCP. The rest goes vs. mortgage.raptorsfans wrote: ↑Oct 27th, 2017 10:59 amThanks everyone in this thread. It's been very informative! I'm a newbie on investment, and I'm serioiusly considering the CCP portfolio, but I have a quick question:
I have a $330K mortgage (locked rate at 2.11% until June 2018), and I have $350K cash (currently sitting in a saving account with 2.5% interest rate). Should I pay off the $330K mortgage first, or should I just put the entire $350K saving into the CCP portfolio? My friend told me to pay off the mortgage first before any investment, but my thinking is, if I can easily get more than 2.11% return from my CCP investment, why would I bother paying off my mortgage in a hurry?
What do you think?
Maybe max your allowed prepayment for this year and next and invest the rest in CCP?