Barnstormer
Dryer sheet aficionado
- Joined
- Mar 13, 2003
- Messages
- 28
Great discussion and appreciated to the point that I'd thought I'd get some advice from y'all. I'm currently fully retired with a wife and 2 young (and I mean young...under 5 yrs) children. We live WWOM on a $2500 monthly pension and I draw on a $150K cash account to pay a 1000/month mortgage. The mortgage balance is apprx $132K and my question is should I liquidate my cash savings and pay off the mortgage or continue to hold the cash as a safety net. If I payed the mortgage off that would leave about $17-20K for emergencies...roof, car repairs, etc.
This has been bugging me for months now and would appreciate any sane advice.
Info: Mortgage is 15 yr @ 5.875%...1.5 years into it.
This has been bugging me for months now and would appreciate any sane advice.
Info: Mortgage is 15 yr @ 5.875%...1.5 years into it.