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Reply to "Extra $1000 per month - what to do?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Another option would be to increase your mortgage payment each month.[/quote] Good point-- what is the mortgage rate and could you get it paid off by college? In addition to brokerage I'd probably consider putting a chunk (maybe half?) in ibonds.[/quote] OP here. Mortgage is 3% and we have 22 more years left. I can’t see us staying in this house for 22 years - if that’s the case, is there any reason to put more toward mortgage balance? It’s a DC row house bought for $830k with $200k down. I don’t know offhand how much is left on the mortgage. [/quote] No then there is no point really (unless you think 3% is a better return than you would get with your other investments, which seems very pessimistic)[/quote]
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