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Reply to "If you came upon an additional $600K, would you invest it pay off your mortgage?"
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[quote=Anonymous][quote=Anonymous]This is just a dream at the moment but it is what DH and I owe on our house in the DMV. We are in our early 50s and have a prime piece of real estate in South Florida to which we would like to retire, which has no mortgage. Our primary residence is in DC, which is valued at between $1.5 and $1.7 million. We may sell it in 10 years but would also like the option of keeping it for longer if there is no mortgage. Right now we have $1 million in retirement but intend to keep working while kids are still school age and to support our current lifestyle, which would have to be scaled back in retirement. What are your thoughts? And, I am hoping to keep this positive. [/quote] I would do both, but my mortgage is <200k. I'm confused where the hypothetical 600k is coming from- selling your real estate in Florida? If you sell it, how can you retire there?[/quote]
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