Back story: I’ve recently inherited a house from my mother. There’s about $85K left on the mortgage. She also left me money to pay this house off. With this economic crisis we are currently going through, would it be a smart move to pay this house off in full? I have no other debts & I’m fully invested in my HSA, 401K, & taxable brokerage account, investing $4K per month. Please advise. Thanks in advance!
Following PFC and Bogleheads logic there is no way to predict the future. Paying off your mortgage is a personal decision and if it helps your peace of mind I’d say go for it.
Agreed with David!
Whether you pay down the mortgage or invest even more aggressively than you already are, both are great!
How much money will you save each month with a paid for house? What’s your plan with the extra money? If you didn’t pay the house off, what would you do with the cash?
I think there are tons of great options for both sides. As long as you make a plan and stick with it, so lifestyle creep doesn’t swallow up your extra cash flow, I think you’ll do great.