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Old 02-11-2019, 07:30 AM   #21
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Pay it. Just do it.
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Old 02-11-2019, 12:27 PM   #22
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Pay ahead on the principle and shorten mtg to fit your plan.
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Old 02-11-2019, 02:12 PM   #23
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This is my philosophy as well:

"Think carefully about how you are going to fund an early retirement if you are leaving before you can tap retirement accounts. Even if you are over 59.5 it gives you a lot more flexibility to have a large taxable account. If the mortgage interest rate isn't too bad, it's very often best to leverage the house. You should be able to sleep just as well with a 6 or 7 figure taxable account and the ability to pay off your mortgage at any time as you would if the mortgage was paid off."

Thanks for posting.
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Old 02-11-2019, 04:27 PM   #24
Full time employment: Posting here.
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Too many factors involved to give a straight answer that covers all situations. But I can say for me I kind of split the difference between the two. If I had to do it all over again, I would have just made my regular mortgage payments and just invested in the stock market.
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Old 02-12-2019, 07:35 AM   #25
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Pay it. Just do it.
So insightful! I'm sure the OP will spend considerable time contemplating the positive and negative ramifications of this thorough analysis.



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Old 02-12-2019, 09:39 AM   #26
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At 3.5% I would keep the mortgage.
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Retired at 59 in 2014. Should have done it sooner but I worried too much.
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Old 02-12-2019, 09:42 AM   #27
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So insightful! I'm sure the OP will spend considerable time contemplating the positive and negative ramifications of this thorough analysis.



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The reasons are pretty well spelled out in others' postings, I just joined the cheerleading section.

Perhaps you had a bad day?
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Old 02-12-2019, 10:01 AM   #28
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The reasons are pretty well spelled out in others' postings, I just joined the cheerleading section.

Perhaps you had a bad day?
Having a great day, thanks! Now, how would anyone know to tie other non-quoted, non-referenced posts, thoughts, comments to your 5 word post?

I'm happy, having a great day, but I'm not a mind reader!

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Old 02-13-2019, 04:58 PM   #29
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We just paid ours off this week. I wanted the freedom of having no payments and to have 100% of our income available to do what ever we wanted to with it. We were putting plenty away into investments in our company 401k. With a good long bull run in the market, it would have been a good time to put the money in the market instead, but hindsight is what it is.

I do not feel bad at all about paying off the mortgage. It offers stability for my wife and keeps life simple. We will likely look at a second home for vacations and future retirement and may very well get a small mortgage on it but it will be easy to pay off when I am able to access my retirement funds.

All that being said, my goal is not necessarily to retire early, but manage my money well so that we are FI and I can leave an inheritance of some amount to my kids / grandkids. I plan to work at least 12 mores years, until I am 62 and I may work longer. I enjoy my job and I get lazy at home. It may prolong my life to keep working?

One thing is for sure, if you do not like living without a mortgage, you can sure get one again. It is pretty much a no risk decision, just a hastle if you decide to change your mind. I personally think that each persons personality is a bigger driver in what makes them financially strong. Many people that would be part of a forum like this would be money nerds and really into the management part of the finances. They would enjoy the challenge. Not everyone is like that though. Others would be best served to pay off the debt, reduce the risk and free up your income to build wealth. Chances are that either way, it wont really matter.
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