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Reply to "200k HHI is just getting by Six-Figure Salary No Longer Means You're Rich 5k leftover see this chart"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]What is an extra equity payment?[/quote] We oay an extra 1600 a month towards our mortgage. It goes to principle. This way the mortgage will be paid off in 15 years instead of 30. [/quote] Why would you do that instead of investing the $1600?[/quote] Not the PP, but there are lots of reasons for doing this. In our case, we pay about 1k extra a month toward the house. The reason is that in order to retire I want 2 things to happen. First, I want to have a certain multiple of annual expenses, which I am on track to have in about 10 years. Second, I want the mortgage gone. I am paying extra toward the mortgage so that happens at almost exactly the same time as I hit my multiple of annual expenses in invested assets so I can retire.[/quote]
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