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Reply to "All you rich folks - looks like I'm (almost) one of you. What should we do?"
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[quote=Anonymous][quote=Anonymous]I'm going to go against the grain and say go ahead and pay off your mortgage. Not having a mortgage is a delightful feeling. If the stock market crashes, you still have your home, if you lose your job, you still have your home. It's not the "clever" financial decision, but the piece of mind it brings has some value.[/quote] I agree paying off the home is great. Why keep a mortgage just for the tax deduction. It's like spending money to save in taxes. But at your income level taxes are not such a problem. I would blend the advice above - dont make any sudden moves, but instead put more away each month in retirement plans, college savings, and your mortgage, automtically each month. Just don't buy a new car or do anything that would waste it. [/quote]
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