For the first time in my life I am on track to make low six figures pre-tax. My expenses are roughly 3-4k a month all in and I am putting around 9% into my 401k, which only has about $50k in it. Additionally I have about $30k in various investments which are taking a brutal beating this month.. crypto, individual stock, and around 10 thousand cash. Mostly VOO and QQQ for the stocks.
I owe about $169k on the house. I'm in a sales job so variable comp but my base pay is $3k take home plus my commission which averages between $5k/month and $12k/month.. end of quarter is usually higher since we get double commission.
Soooo... if my goal is to FIRE in the next 10 - 15 years, does it make sense to pay off the house with a mortgage payment of $1100/month or should I be dumping it into the simple portfolio?
Inflation scares the crap out of me and I'm honestly not sure if I will continue doing so well in this sales job. If not, I will likely take a step back and go back into a previous role which was about $85k/year pre-tax.
I feel like doubling or trippling my monthly mortgage payment while things are doing well, would be a huge psychological win but I'm afraid of the unrealized profits if the market goes on a bull run.
Is there any benefit to paying off the mortgage early or does that fixed expense act as a hedge on inflation?
How do you do it FIRE people?
Submitted July 18, 2021 at 10:06PM by PayMe2Shill4U https://ift.tt/2UpKOCr
