It seems that at least once a week, I read a post containing a question that basically says “I have extra money. Should I do x or should I do y?” The options are usually pretty financially sound things, like “Should I pay off my mortgage or invest?” “Should I pay off my student loan or increase my retirement contributions?” “Should I stash the money in my mattress or send it to Money Beagle?”
OK, so I’ve never seen that last one but the answer in that case is clearly: Throw the dog a bone!
In most cases, I first applaud whoever it is for thinking about making a wise decision. In most cases, there’s no right or wrong answer. Many factors can go into making a decision, such as expected rate of return, inflation, debt aversion, etc. They’ve all been covered so I won’t go into them here. Instead, I’ll go straight to the advice:
If you’re asking for help in picking between two options, then clearly both hold appeal to you. If you’re really not sure what you will be happier with, why not try both options for awhile?