Greetings ladies & gentlemen,
This community seems very interesting - hence I just joined today.
A little bit about myself, and my current goal;
From Sweden, just built our own house of which I currently have a bank loan of approximately $300.000. However, I was able to "lock" the interest to about 2,5% for five years - plus in Sweden we have a system where you get 30% of your interest costs back at the end of the year. So the monthly mortgage is really not that bad.
The thing is, I currently also own around $250.000 in savings on my bank account. Now, a lot of people could argue that I should use this money to pay off the loan to the bank. But considering I am at least safe for another 5 years no matter how the interest moves I reconsidered and now have another plan.
I've made a budget, and so far the costs of the house is almost exactly $1000 a month, including interest-costs, electricity, broadband, insurance, and all that is "house costs". Since the house is completely new, and I have a 10 year warranty, I have not budgeted for repair costs.
So, what is my goal? Well, to sum it up - I am going to try to get my $250.000 savings to "pay for the house" - in other words, I need that $250.000 to grow with a rate of $12000 a year.
Possible by swing trading? Maybe. At least, this is the sort of trading that I currently find most interesting.
The disadvantage that I currently have is the timing. OMX (Swedish Stock Market) is currently on an all time high, and there are a lot of signals of a bear market for quite some time. Therefore, I think it's a bit risky to start off here locally - hence, I'm considering trading on Nasdaq/DJ instead.
What do you think? I'd love to get some tips, ideas, criticism, anything will do!
Thanks, and hope to enjoy this community.