Extinction
Confused about dryer sheets
- Joined
- Apr 15, 2016
- Messages
- 3
I will be retiring this year or next depending on a few variables. I am 56 and my wife is 55. We have 26 years left on a 30 year mortgage and there is a good chance we may never move. My Firecalc projections are coming in at 97% for 35 years. Since the mortgage is fixed, I had entered that value into off chart spending and then reversed it as pension income when it is paid off.
Now my question. It always bugged me that I may have that mortgage until I am 80. The 15 year rates are 2.75% and could be dropping even more with Brexit. I plugged in the new 15 year mortgage (with money pulled out to pay for a new roof and some other upgrades) into Firecalc and my success rate rose to 100%.
So my expenses will increase almost 10K if I refi but I get a new roof, various necessary upgrades and the mystical (mythical?) Firecalc 100%. It seems to be the the right strategy according to Firecalc. But taking on that extra expense is a bit unsettling. Am I missing something here?
Now my question. It always bugged me that I may have that mortgage until I am 80. The 15 year rates are 2.75% and could be dropping even more with Brexit. I plugged in the new 15 year mortgage (with money pulled out to pay for a new roof and some other upgrades) into Firecalc and my success rate rose to 100%.
So my expenses will increase almost 10K if I refi but I get a new roof, various necessary upgrades and the mystical (mythical?) Firecalc 100%. It seems to be the the right strategy according to Firecalc. But taking on that extra expense is a bit unsettling. Am I missing something here?