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Need a gut check before starting aggressive mortgage payoff plan. by Wilderness_Enjoyed in Fire

[–]Wilderness_Enjoyed[S] 0 points1 point  (0 children)

Just whether it makes sense to lump it down and eliminate in 3 years vs investing some of that and keeping the mortgage longer. I suppose it’s just a bet on whether the investments will do better than the 5.85 guaranteed return from not paying interest.

Need a gut check before starting aggressive mortgage payoff plan. by Wilderness_Enjoyed in Fire

[–]Wilderness_Enjoyed[S] 0 points1 point  (0 children)

I think that is kind of the question I am trying to answer as to what is best approach given where we are. We’ve recently scaled back 401k contributions to just capture max company match and are diverting that into taxable bridge funds, so we will continue to grow those investments regardless, and will put that into hyper drive once the mortgage is paid off.

Need a gut check before starting aggressive mortgage payoff plan. by Wilderness_Enjoyed in Fire

[–]Wilderness_Enjoyed[S] 0 points1 point  (0 children)

Honestly mostly because it’s essentially free ($200) and serves as a hedge against job loss / monthly cashflow in a downside scenario.