First, add to 529s so all tuition, room, and board paid for all dcs for 4 years.

2nd pay off any other debt.

3rd put 1/3 or half on mortgage and recast since you are undecided if you want to pay off (but want some security/ fail- safe that you won’t spend it all elsewhere.). With the recast, it stays same 30 yr or whatever timeline but your new payment lower. With that new lower payment, save the difference anyway you want: Roth, money market, cds.etc


4 th, plan the vacation you want and then see what the cost is and if works go for it.

Anonymous wrote:

Anonymous wrote:No one is taking into account the peace of mind and psychological impact of having a paid off mortgage and owning your house outright. Yes it doesn’t make practical, logical sense to pay off a 3% mortgage. But the feeling you get can’t be discounted and has some intangible value.

It has very real value when that "super safe Fed job" you got suddenly disappears.

I will never understand the people who want to hold on to debt forever. I have so little debt my credit score is crap. But I don't care because I don't buy stuff I can't afford.

- signed age 60, own 6 rentals plus my home outright, $2M invested and work is completely optional.

If you don't understand why leverage can be financially beneficial I simply don't know how to respond.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No one is taking into account the peace of mind and psychological impact of having a paid off mortgage and owning your house outright. Yes it doesn’t make practical, logical sense to pay off a 3% mortgage. But the feeling you get can’t be discounted and has some intangible value.

It has very real value when that "super safe Fed job" you got suddenly disappears.

I will never understand the people who want to hold on to debt forever. I have so little debt my credit score is crap. But I don't care because I don't buy stuff I can't afford.

- signed age 60, own 6 rentals plus my home outright, $2M invested and work is completely optional.

When you can easily pay off your house from investments any day of the week, it doesn’t cause you any distress to have a mortgage. Our remaining mortgage is $300k @2.25%. Our investments and savings are worth $5M. Even if we lost our jobs the mortgage would not stress us.

We have a nearly identical mortgage and savings and I agree. It does not cause me stress at all.

It’s threads like this one that make laugh.

“Well I have $10M and 15 homes paid off, blah, blah, blah”

“Well I have $20M, and take a dump in a solid gold toilet, blah, blah, blah”

I wonder what percentage of DCUM posts are actually factual.

Anonymous wrote:

Anonymous wrote:No one is taking into account the peace of mind and psychological impact of having a paid off mortgage and owning your house outright. Yes it doesn’t make practical, logical sense to pay off a 3% mortgage. But the feeling you get can’t be discounted and has some intangible value.

It has very real value when that "super safe Fed job" you got suddenly disappears.

I will never understand the people who want to hold on to debt forever. I have so little debt my credit score is crap. But I don't care because I don't buy stuff I can't afford.

- signed age 60, own 6 rentals plus my home outright, $2M invested and work is completely optional.

When you can easily pay off your house from investments any day of the week, it doesn’t cause you any distress to have a mortgage. Our remaining mortgage is $300k @2.25%. Our investments and savings are worth $5M. Even if we lost our jobs the mortgage would not stress us.

Anonymous wrote:No one is taking into account the peace of mind and psychological impact of having a paid off mortgage and owning your house outright. Yes it doesn’t make practical, logical sense to pay off a 3% mortgage. But the feeling you get can’t be discounted and has some intangible value.

It has very real value when that "super safe Fed job" you got suddenly disappears.

I will never understand the people who want to hold on to debt forever. I have so little debt my credit score is crap. But I don't care because I don't buy stuff I can't afford.

- signed age 60, own 6 rentals plus my home outright, $2M invested and work is completely optional.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Paying off a mortgage sounds good but it's actually not.

We did ours and it was great.

This is just so incredibly stupid.

We have over $6 million in investments and a $600,000 mortgage at an interest rate that’s even lower than OP’s. We could literally pay the mortgage off tomorrow. Are you seriously advising us that that would be “great?”

We have way more than 6m and paid off our mortgages (2 houses) early. Don’t see a difference and glad we are done. 😁

But you’d have more if you hadn’t paid off your houses as quickly.