Mortgage prepayments vs. investing
There’s no one single approach to financial planning. Your best strategy hinges on your personal balance sheet, employment, risk tolerance and return assumptions.
That said, if you want a quick comparison of mortgage prepayments vs. investing, Sun Life has this calculator. Assuming your finances aren’t too complex, give it a whirl and see what it recommends. (You’ll need to know your marginal tax rate, so here’s a calculator to estimate it.)
Of course, sometimes people have other priorities besides improving their personal balance sheet. In fact, 27% say their #1 financial goal is “saving for my next vacation.” So regardless of whether you accelerate your mortgage or invest, you can take solace that while the vacationers are enjoying tours and beaches in the short-term, you’re building your net worth for the long term.