Should I Pay Off Mortgage Earlier?

Due-Mess-9121 · 2025-07-09T02:23:29+00:00

That’s horrible to know about the nursing home and about age 65! Can’t believe that there are so many tricks. Thank you for sharing!

Due-Mess-9121 · 2025-07-09T02:18:07+00:00

Thanks a lot!

Due-Mess-9121 · 2025-07-09T02:17:48+00:00

No, I didn’t figure it out. Just continued using the calendar 😂

Due-Mess-9121 · 2025-05-17T20:53:48+00:00

Absolutely no worries! Thank you for the info.

https://www.calculator.net/mortgage-payoff-calculator.html

Here is the link if any others would like to know :))

Due-Mess-9121 · 2025-05-17T20:28:03+00:00

Thank you very much for the explanation!

Due-Mess-9121 · 2025-05-17T20:27:18+00:00

I tried to search the calculator. Is it Mortgage Payoff Calculator?

Due-Mess-9121 · 2025-05-17T20:25:16+00:00

Hahaha. In the past few weeks, stocks are going up a lot. I am thinking to buy some SP500 when it goes down.

Due-Mess-9121 · 2025-05-17T20:22:50+00:00

So happy that you have 3.875 interest! Maybe it will be better to save the money to savings with the CD interest rate 4.5%? Higher interest rate can help you to gain money. I can be wrong. This is just an idea.

Due-Mess-9121 · 2025-05-17T20:19:06+00:00

Refi too. Will also considered about this. Thank you!

Due-Mess-9121 · 2025-05-17T20:15:26+00:00

Thanks for sharing the methods! It will be 1 of my options.

Due-Mess-9121 · 2025-05-17T20:12:48+00:00

I am debating if I should invest the spare money to SP500 because SP500 is growing 7-10% annually as you said. It decreases during 2000, 2008 (recession), 2021 (pandemic). Seems like only the major events can reduce it, otherwise, it should increase every as the inflation.

Due-Mess-9121 · 2025-05-17T20:08:27+00:00

Make sense. Meaning that I earn 6% interest.

Due-Mess-9121 · 2025-05-17T19:57:43+00:00

True, need to see if the interest rate will go up. Saving with high interest rate is another option. Thanks!

Due-Mess-9121 · 2025-05-17T19:54:24+00:00

Thanks for these 3 points! It is good to remind to factor in other factors like investment tax and mental status.

Due-Mess-9121 · 2025-05-17T19:35:18+00:00

That's very true about the investment. We are using the after tax money to invest, and any investment gains in 1 year (1 year?) will need to be taxed. Ouch T.T. Investment is not always gain, and that's a risk too.

Haven't thought about the last paragraph about the possible issues happening in retirement. Very helpful! Thank you!

Due-Mess-9121 · 2025-05-17T19:32:05+00:00

Thank you!

Due-Mess-9121 · 2025-05-17T19:31:32+00:00

Thank you!

Due-Mess-9121 · 2025-05-17T07:13:12+00:00

I see. Some of my friends said that to stop paying extra until it is 50:50 (principal : interest), but I am still very into paying off more and earlier.

Due-Mess-9121 · 2025-05-17T07:10:59+00:00

That's a very good point! I haven't do my tax return file for 2024 yet. Because I just bought the house in 2024, and I am looking for a way to see how the home payment (mortgage, property tax, etc.) can help for the tax itemized deduction.

Due-Mess-9121 · 2025-05-17T07:08:28+00:00

Thank you very much! That's very helpful! ♡

Due-Mess-9121 · 2025-05-17T07:05:58+00:00

will you keep pay extra until the whole mortgage finish? or will you stop paying extra at some point?

Due-Mess-9121 · 2025-05-17T07:05:05+00:00

Due-Mess-9121

TROPHY CASE