CA Sakchi Jain Instagram – Don’t make this mistake!!
Got a big amount in hand? Your first instinct might be to clear off your home loan, but is that really the best financial move? Let’s break it down!
This is Episode 3 of “Understanding Real Estate: Brick by Brick,” and today we’re discussing whether prepaying your home loan or investing that money could be the smarter choice.
So, let’s say you’ve got ₹40 lakhs. Paying off the loan might feel like a huge relief, but what if you invest that amount in an SWP (Systematic Withdrawal Plan) instead? Over time, it could give you better returns.
But here’s the key: you have to be emotionally strong and not panic during market ups and downs. Remember, the market grows in the long term, but short-term results can vary.
Also, in both scenarios—whether you prepay the loan or invest—the amount you were using to pay your EMI will now be saved. So, the EMI savings remain the same in both cases.
Always compare both options before deciding and choose what works best for you!
Follow for more insights, and stay tuned for the next episode!
[Understanding real estate brick by brick, buying a property, financial decisions while purchasing a house, buying your own house, home loan, prepayment of loan, emi, CA Sakchi Jain]
#realestate #homeloan #financialmistake #personalfinance #casakchijain | Posted on 15/Oct/2024 20:28:08
