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Reply to "Spouse Insistent on Paying Mortgage Off Early "
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[quote=Anonymous][quote=Anonymous]I never understand why people think putting more money into your house is a wise financial decision if you are trying to guard against job loss/illness etc. You want to be able to access the money if those things happen. Otherwise it’s a question of returns. My general opinion is that the market will return a lot better than 5% a year over the long term.[/quote] The thing is that this couple has enough money to invest and also pay off their mortgage. My spouse and I disagreed on this, so we put an extra 150-300 per month, depending on finances at the time, towards the mortgage, and then paid off the rest with a windfall this past month. Basically, we paid off a 30 year mortgage in 20 years. Maybe you could do something like that? Put some but not a huge amount towards the mortgage? We also socked away a lot for retirement and college.[/quote]
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