So we just refinanced to a 15 year 3% mortgage with a (rounded up) monthly payment of $1k a month. I'm 51 and my wife is 48, so it will be paid off when I am 66. I'm pretty happy with that, but IF we managed to retire early, say with 5 or 10 years left on the mortgage, I am wondering if there is any benefit to thinking of creative ways to pay the mortgage. Do I set aside a chunk, or just plan to take the extra $12K /yr from our investments along with the rest of our annual spending? I am not paying it off any faster than the $1k a month because of the 3% rate. Maybe there is nothing worth doing. I think if CD or bond rates were higher a ladder of some type might make sense. I think even with the mortgage payments, we'd be at a 4% - 5% WR, but once that is paid off and SS is turned on that would drop to probably 2%.
Anyway, just looking for some opinions, trying to think about the process. Thanks in advance.
Submitted January 19, 2020 at 08:17PM by finally_joined https://ift.tt/3aqgc7b
