Reply to Saving for college vs paying off house

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Your husband sounds crazy.

Show him the actual dollars and cents on paper.  I assume the $4k is for the state tax benefits? Show him that.  Show him traditional growth of a home vs. growth of investment accounts over time.

The mortgage rates are SO LOW and housing can never be thought of as a sound investment. I can't imagine the logic behind that kind of strategy.  [/quote]

It is insane to forgo saving for college in order to pay off a mortgage.

I would add for your DH's info that paying for college is a completely different ballgame from what it was a few decades ago.  It is virtually impossible for a student to "work her way through" as many people did back in the day.  You should plan for doing more than "helping" her.  IMO.

https://www.theatlantic.com/education/archive/2014/04/the-myth-of-working-your-way-through-college/359735/[/quote]

No, it's not insane to forgo college savings to pay off your mortgage. Say you can't foot the bill for 4 years of college. Your kids can and will find other ways to pay for it, if that's their choice. Loans, joining the military Reserves for GI Bill benefits, etc. There are ways. If you need money to live in retirement, there aren't any alternatives for that. And if your kids can't even pay for college, how are they going to help you with a place to live? You fund college after your own retirement goals are being fully met. [/quote]

No one said anything about retirement.

The above post is about saving for college and assumes that retirement savings were prioritized first.[/quote]

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