Also I don’t expect stock market to stay crashed for more than 2 years in the near future. That to happen simultaneously with me also being jobless for 2 years seems unlikely.
Also the home I have loan upon has already appreciated 50% in last 3 yrs and worth 1.8 Cr now.
@helmi Thanks for the gyan bro. If you are not open to suggestions don’t ask. As a very successful person I suggest to first clear debt . It is upto you. I was there in the US during the 2008 crisis and you won’t believe the number of people that lost their stuff. Also finance Is not only numbers. It’s also discipline. You clearing debt has much more successful impact on your financial discipline to rely less on debt and make sure you pay off loans which are the worst
@lyanveness Thanks for the suggestion. Not planning to close the home loan atm but I understand where you’re coming from and will keep your advice in mind
But the home loan, not yet. I am getting good appreciation on the land so far. It has already appreciated 50% in 3 yrs. it’s at a good location. I am expecting similar application for a few more years at least
@helmi Prepay your home loan to ultimately reduce interest. Imho, home loan is a vicious cycle with fluctuating interest rates and you may end up paying more interest eventually. Yes, equity does seem lucrative with the returns it offer, however, it does come with repercussions. Markets move in cycles and may go down for months or sometimes years (refer great depression 1929 us market and corresponding indices). If I were you, I would pay off loans for peace of mind.
@healing1234 I get that. It’s just that my dad is planning to put around 40-50 L in FD and I have 10 L emergency fund too. So if worst comes to worst, I will be able to pay the home loan emis by burning the cash