Should I use my spare cash to refinance a HDB loan or to invest?

Im 31, and intend to buy a flat, taking $206,000 loan for 19 years. That equates to $1200 approx per month, interest included. Can half this amount since we are paying this as a couple- thus quite comfortable i would say.

If i were to get spare cash in the future (bonuses etc), should i use the money to finance my loan off faster or use it to invest in roboadvisors? I have invested $10k so far, with intention of retiring at 55 with the investments.

What are your recommendations?

Firstly, we need to have a complete understanding on our cashflow. Through this process, we will understand our earning ability and spending habit. Here is a guide to help you: https://www.blog.pzl.sg/understanding-your-pers...

Next, it will be helpful to create a spreadsheet that is capable of helping you perform some tracking and analysis. For the most part, we will need to understand your objectives, e.g. to sell the house in a few years, or to create a stream of income that is higher than the loan rate.

Thereafter, we will calculate the opportunity cost involved to find out how much time we have in order to grow the money in a sensible manner vs to prepay your housing loan.

In general, the interest rate from your mortgage is guaranteed while any form of investment yields only non-guaranteed returns. Hence, this is a key factor for consideration when choosing the latter. As a result, there is no certainty on whether you will clear your loan earlier or not without detailed financial and portfolio planning.

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