Reply to 200k - mortgage or market

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[quote=Anonymous][quote=Anonymous]First of all, ignore the poster that said to put it in 529s. You already have 100k in each and need to think about your retirement first.

You left out some key details, such as how much you have remaining on your mortgage and the interest rate. If the 200k would pay off the mortgage or get you much closer to it such that it could be paid off in a few years, I would strongly consider sending it to the mortgage. If, however, the 200k would leave you with several hundred thousand left to pay off, especially if the interest rate was low, I would not send the money to the mortgage. Paying down a mortgage creates some liquidity risk (you still owe the bank the monthly payment every month for X decades) that is not present with paying off the mortgage in one fell swoop.[/quote]

OP here. I included those items - it's 850k remaining balance, at 4.5%, with 28 years remaining. So putting 200k into it would knock it down almost by a quarter and lower our monthly payment by 1k and save us roughly 400k in interest over the life of the loan.[/quote]

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