Mr & Mrs Lee have been financing the mortgage loan of their first home for the past 3 years, and they are considering mortgage refinancing to save on some interest.
The money saved could be used to:
renovate the house
pay off remaining debts
re-invested to maximise savings
A dollar saved is a dollar earned. Regardless, self-discipline and proper financial planning will help you achieve better financial stability and securing a nest egg for your retirement.
You could consider our Investment Illustrator to explore the effect of different investments on your current financial portfolio. This tool can help you to estimate projected values and expected returns to improve the diversification of your portfolios and move closer to your goals.