nun
Thinks s/he gets paid by the post
- Joined
- Feb 17, 2006
- Messages
- 4,872
sorry to flog a dead horse, but what do you think of paying off the mortgage before retiring into what I think will be a down market?
Here's my situation, I'm in my mid 40s, own a 2 family house and get $1400 a month from renting the first floor apartment. I just got a $200k inheritance. I already had $600k in tax deferred and $300k in after tax investments and $250k left to pay on the house. So I'm in a situation where I could just about retire, maybe do something part time. I hadn't considered paying off the mortgage until I got my inheritance and as I believe that the markets my be more "bear than bull" for a couple of years would it be best to pay off the mortgage now?
Here's my situation, I'm in my mid 40s, own a 2 family house and get $1400 a month from renting the first floor apartment. I just got a $200k inheritance. I already had $600k in tax deferred and $300k in after tax investments and $250k left to pay on the house. So I'm in a situation where I could just about retire, maybe do something part time. I hadn't considered paying off the mortgage until I got my inheritance and as I believe that the markets my be more "bear than bull" for a couple of years would it be best to pay off the mortgage now?