I realize this topic has been discussed before, but I wanted to get some thoughts on my situation. Currently I have 1.8 million saved, of which $800,000 of it is in non retirement accounts. I'm 45 and figure I'd like to work at least 10 more years. My house is worth maybe $900,000 and my mortgage balance is about $580,000. Currently my monthly payment is 4650 (when you include P,I and escrow for taxes).
SO should I just pay the mortgage off and be done with it? or should I keep it and take advantage of the tax deduction. BTW I'm in a high income bracket.
Thanks for any thoughts.
SO should I just pay the mortgage off and be done with it? or should I keep it and take advantage of the tax deduction. BTW I'm in a high income bracket.
Thanks for any thoughts.