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!
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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.
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Agreed with David!
Whether you pay down the mortgage or invest even more aggressively than you already are, both are great!
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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.
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