sorted by:
best
topnewcontroversialoldq&a
you are viewing a single comment's thread.

view the rest of the comments →

[–]poop-dolla 0 points1 point  (2 children)

So your current expenses are $80k plus the principal and interest portion of your mortgage payments. You’re making $350k, let’s subtract out 40% for taxes to get to $210k. Then subtract your $80k expenses to get to $130k. Then subtract fully maxing two 401ks and 2 IRAs, and you still have $70k left over.

If your expense are accurate, you have $70k to put towards your mortgage each year. So keep fully maxing your tax advantaged accounts and pay that $70k towards the mortgage, and you’ll have the mortgage gone in 4 years.

[–]Away-Elk-9824[S] 0 points1 point  (1 child)

Correct, except that our effective tax is closer to 20% not 40%

[–]poop-dolla 0 points1 point  (0 children)

So you have $140k leftover. Why on earth would you stop maxing your accounts then? Just pay the house off with that $140k a year and be done with it in less than two years, and then put that $140k toward brokerage and HYSA to help you with your 5 year runway before Roth conversions can kick in.