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Reply to "Spouse Insistent on Paying Mortgage Off Early "
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[quote=Anonymous][quote=Anonymous]I get how one can become fixated on this type of goal because it can be gratifying to see that loan balance go down. But it’s likely no one is ever going to had you that much money for 5% ever again. And an interest deduction is available. So yes, do other things with the money, especially because you are relatively young and still working.[/quote] This. Can you get him to reframe the 401(k) contribution as paying yourselves first? Saving for retirement is an obligation just like (well, sort of like) paying your debt. There are serious consequences if you don't, and there is a timeline and a value to the interest. If you are meeting your legal obligation of monthly payments then your next priority is making the legally allowed contributions to your future. Only afterward can you do something optional like pay the mortgage faster. [/quote]
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