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Reply to "Is it completely stupid to pay off our mortgage?"
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[quote=Anonymous]We are 35. Two kids. No debt other than mortgage. House worth 475. mortgage on it 285K. we are doing a 15 year, at 3 percent. We are maxing out our 401Ks, non-deductible IRAs yearly. we have about 300K in those accounts (evenly split by spouse). Have maxed out 529 contribution for kids yearly since they were born. we have good life term insurance coverage, both through work and privately held. we have about 250K sitting in savings because we are really scared of investing (other that the mutual funds/etfs/index funds we are invested in for our retirement accounts). Thinking about making a massive payment to our mortgage, and just paying it down fast. is this dumb, and if so, please explain why? FWIW, we are the kids of hard working immigrants who fear debt and want to be free. - completely financially unsavvy person [/quote]
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