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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Here’s what I would do. Take half of your inheritance and pay down the mortgage. Do not recast your mortgage, but keep the same monthly payments as before. Invest/save the rest based on your risk tolerance. Depending on when you retire, your mortgage will be very low because of all the extra payments. (There are online calculators that you can find.) At that time, you can choose to recast.

Best of luck![/quote]

You don’t get recasting.  If you pay a lump sum or even extra monthly you want to recast.  It saved us a lot of money. You can recast multiple times.  We did it twice.  [/quote]

I do understand recasting. My whole point was to keep the payments unchanged in order to pay down the mortgage quicker. Sure, your monthly payments do go down when you recast, but it does not save you any money in the long run. [/quote]

DP but OP wasn't asking about saving money in the long run.  "DH wants to have cash on hand to be able to walk away from a job if he ever wanted to."  Recast doesn't "save" money but it does free up money, which would have the desired effect for their family while meeting both her and her DH's goals.  A smaller monthly obligation means more flexibility for him; putting a lump sum in means a smaller debt obligation for her.  Win-win.

This may not be what OP is asking for, but this makes a lot of sense financially. Either OP's DH makes no money/is a very close to retirement or he is delusional that he can walk away from his job, just because he now has, say $800k extra in savings.

I would put it all in the market, but I don't have the same set of considerations.[/quote][/quote]

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