won division 1 few weeks ago thru a syndicate... two preferred options are:
1. reduce my mortgage of about $250k or
2. invest in the ASX on some specs.
and to add to that, pertaining option 1, how does using equity work? i heard from the developer that my land has gone up $25000. I would like to draw that equity but only started paying the loan interest 3 months ago... lender might not want to len further. should i put that $20k into the mortgage, reduce my fortnight repayments and maybe tap on that equity in the next month or so?
and in option 2, if the stock rises to x amount, at what stage should i withdraw them or i should not withdraw them at all, to so called ride the wave?
maybe the question i'm asking is should i reduce my mortgage or continously investment with any extras bits my hands get on? someone said before that we should make money work for you. and is money putting in the mortgage doing that, making money work for me?