I was looking for starting business with a budget of 100K, but with current situation planning to pay 100K towards my home mortgage to save some interest.

Any advice from experts?

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Raza

- What is the rate of return expected in the business?
- What is the risk level of the business?
- What is your mortgage interest rate?

In general, paying towards your mortgage will give you an instant, risk-free, guaranteed return.

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

Hi Raza Shah,

I normally suggest to pay down the mortgage and take a line of credit against the home to start a business so one could write off the interest on the loan.


Right now conditions are sad for business, but I don't wish to discourage you

However, it's for you to decide. I don't know the business you are contemplating nor your risk appetite, nor your emotional attachment to a home.

Many spurn this suggestion 'cos the very notion of borrowing against their home shuns them.

Others have taken the plunge.