Reply to Could you live comfortably on $7500 a month?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You guys are lucky you don't have student loans - our household student loans are around $900k/month.  Makes a SERIOUS dent.  And where are all of these 2k and under mortgages?  My mortgage is for about $420k and monthly payments including taxes, insurance, etc. are just under $3k.  [/quote]

The key for us is that we bought in 1997.  We have added to the loan for one major renovation, but we currently owe &lt;$200k due to timing and over paying.  [/quote]

By over paying I mean we prepay some of the mortgage each month.[/quote]

Okay, maybe since you bought in 1997 you are close to retirement and that's why you do this. But it's a terrible idea when interest rates are so low. Almost any decent investment is going to give you more than prepaying a mortgage at this point.

I'm only in my 30s, though, so clearly if you're at the end stages of working (say 50s or 60s) and can't take risks by investing your money elsewhere, this would not be the case.[/quote]

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