Hey all,
Unfortunately, I haven'y really saved much money (w/ the exception of my 401k/stock accounts) in the past 3-4 years due to a variety of large expenses (bought a house, got engaged, got married, had a child) but this is the first year in a long time that I don't see any big expenses or events in the foreseeable future. Therefore, leaving me with some disposable income. I already put a healthy amount into my pension (15-20%), a personal trading account as well as a ROTH. So my question is, is it wise to pay an additional 30-50% on my monthly mortgage payment if I plan on leaving in the next few years (3-5)? I thought that this would be a good way to put my extra income to good use but now I'm reconsidering. Doing some quick math, without absolutely killing myself I could have it paid off in 7 years (mortgage + taxes = $1,498; would need to pay $2,635 for 7 years to pay off balance of roughly $153k)
EDIT: I also plan on establishing a healthy cash savings while doing this. Also, I should be 100% debt free (minus mortgage) by March. If there is any other information I can provide please ask and I'll be happy to do so.
Submitted December 24, 2018 at 10:18AM by NjStacker22 http://bit.ly/2QMhCCJ
