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re: Payoff house or keep money invested?
Posted on 2/19/24 at 8:16 pm to meansonny
Posted on 2/19/24 at 8:16 pm to meansonny
Yes a wife and a few kids. Retirement goal is at 55 and I’m well on track for that. I don’t have to put another dollar to my retirement account and it should grow to what I need by 55.
This post was edited on 2/19/24 at 8:20 pm
1
Posted on 2/19/24 at 9:31 pm to Redstickbaw
quote:
Yes a wife and a few kids. Retirement goal is at 55 and I’m well on track for that. I don’t have to put another dollar to my retirement account and it should grow to what I need by 55.
If the dream is to retire at 55, I would keep the money in the market working for you.
If buying a kiddie condo makes sense (college is cheap. A 19 year old covering room and board isnt), I would keep the money in the market (you can pay cash for the condo in the future).
If you truly have a static life (no big plans for the future), go ahead and pay off the mortgage. I was asking about the family because it may be their "calling" which creates the dynamic big purchase ideas which could benefit from a large capital infusion in the future.
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