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Reply to "How much debt you have? Mortgage and student loans included."
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[quote=Anonymous]Only debt we have is monthly CC debt which we pay off every month. Paid off a $800K mortgage with a house currently valued around $1.8M. This is the only action I regret. Should have refinanced when mortgage rates were in the low 2% range. We had a 10/1 Interest Only ARM and did not expect to still be living here when the interest rate adjusted in late 2023 and would just sell the house. Unfortunately life happens and we are still here so we paid it off before the rate adjusted. No student debt — served in the military to pay for my bachelor and master degrees in engineering. My oldest child received merit scholarship for her college and using some of my military benefits to cover the rest. Have $450K saved in 529 to pay for 2nd 16yo child’s college but hoping for merit aid/scholarships as well. Oldest child has been accepted to Dental School so whatever is left in 529 can go toward that but she will definitely have skin in that game to pay for that.[/quote]
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