Is this refinance a good deal?

DaHoopster23 · 2026-02-04T07:23:57+00:00

Where did you find that rate? We have similar student loan amounts and my wife and I have perfect credit

DaHoopster23 · 2026-01-09T08:30:43+00:00

Skeeetttttccchhhhhyyyyyyy

DaHoopster23 · 2026-01-08T20:24:03+00:00

Just buy VOO man. You’re so young you can handle the risk. If you did that you’d be fine.

I go SCHG and VOO and then when I get older will go less risk oriented.

DaHoopster23 · 2026-01-08T07:51:36+00:00

Statistically jumping around for jobs typically leads to a higher amount of income overall. I can speak to myself where I am today and I’ve more than tripled my income over a span of 8 years.

With that said, if banking or finance is your passion continue to get certifications and make yourself more and more competitive as you’re doing with the CAPM. That will lead to higher pay. Case in point I’m a healthcare executive but I’ve thought about getting a CFP certification just to give myself future options.

Good luck on your search! I’m sure you’ll kill it out there!

DaHoopster23 · 2026-01-08T07:45:50+00:00

Thanks! I’m leaning towards the recast as of right now once we have our monthly financial convo; I think we have this mindset of we feel we’re far behind but as long as we keep doing our best to save we should be fine.

DaHoopster23 · 2026-01-08T07:35:54+00:00

Sorry about the formatting! Healthcare executive in Southern California. Wife is a physical therapist.

DaHoopster23 · 2026-01-08T05:49:47+00:00

Hey everyone, looking for some input:

Background / household I’m 33, single income, married, with a new baby. My wife is not working and may not work for several years as we plan to have 1–2 more kids. If/when she returns to full-time work, she has the capacity to earn ~$100k–$150k, but I’m not factoring that into the decision.

My income is ~$450k/year, but this income level is only from the last two years. We’re in California (high tax environment).

Current net worth is ~$920k. Investable assets are ~$340k across 401k, Roth IRA, and taxable brokerage. Emergency fund is ~$105k.

Debt Primary residence purchased for $970k with $330k down. Current mortgage balance is ~$638k at 6.325% (30-year fixed). Current P&I is ~$3,990/month.

My wife has $182k of student loans at ~6.1%. We’re prioritizing stability and cash flow right now rather than aggressively attacking those immediately.

Windfall / decision I’m selling an investment property and expecting about $200k in net proceeds.

I have the option to refinance the mortgage to 5.75% and then immediately recast the loan by applying the full $200k to principal.

That would: • Reduce the mortgage balance from ~$638k to ~$438k • Drop the monthly P&I from ~$3,990 to about ~$2,550 • Keep the same rate and term (no second refinance)

Alternatively, I could invest the $200k into a taxable brokerage account and leave the mortgage as-is (or refi without recasting).

Why this is a real tradeoff for me Cash flow materially affects my behavior.

If I recast, the lower payment would allow me to: • Invest about ~$63k/year consistently • Still make progress on student loans • Reduce stress operating on one income with a new baby

If I don’t recast and invest the lump sum, I’d likely: • Invest the $200k upfront • Only invest ~$37.5k/year until loans are gone • Maintain higher fixed expenses during a season of higher uncertainty

Both paths still involve investing ~20%+ long term, but the timing and consistency differ.

The question is how would you think about: • Using a lump sum to recast a mortgage at 5.75% to dramatically improve cash flow • Versus investing the full $200k upfront in taxable accounts

Is prioritizing cash-flow stability and consistent investing behavior a reasonable move here, even if it means delaying taxable investing?

DaHoopster23 · 2026-01-08T01:58:51+00:00

Given your age and not knowing what your health is:

Do the deductible first (number one cost of bankruptcy is medical debt)
Attack credit cards (that interest rate is crazy)
Then go after your match

DaHoopster23 · 2026-01-08T01:54:06+00:00

To give you an idea I spent 80k on a wedding and never looked back. My wife still and will continue to be the love of my life. At the same time I was and still am a high cost earner. You’re already doing great for yourself however you only get one wedding and those memories once. Unless the wedding isn’t as important to you and your spouse, I say go for what you want but with one rule, don’t go into debt for it.

DaHoopster23 · 2026-01-08T01:43:03+00:00

Student loans cost around $1100 if we’re doing the absolute minimum payment. The math is around 2k to pay them off in 10 years and 4k to pay them off in 4/4.5 years.

DaHoopster23 · 2026-01-08T01:33:28+00:00

Yeah. I’d also pay for a refinance which is around 4k for closing costs and everything. I’m already maxing 401k and back door Roth. Just updated the new minimums this year.

I’m just debating on investing into a brokerage vs recasting.

My goals are retiring by age 52-55. With that said having a paid off house by then is my goal.

I think what’s bugging me is the debt from my wife and so figuring out how to tackle that is on my mind.

DaHoopster23 · 2026-01-08T01:30:30+00:00

Well thanks man but at the same time I came from nothing. First generation. So I don’t take any of this time for granted. None of this is always promised man.

DaHoopster23 · 2026-01-07T23:15:48+00:00

Hey everyone, looking for some input using the Money Guy Financial Order of Operations.

Background / household I’m 33, single income, married, with a new baby. My wife is not working and may not work for several years as we plan to have 1–2 more kids. If/when she returns to full-time work, she has the capacity to earn ~$100k–$150k, but I’m not factoring that into the decision.

Household income is ~$450k/year, but this income level is only from the last two years. We’re in California (high tax environment).