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Re: Should I, or should I not?
[Re: fingers]
#3188296
08/10/20 08:14 PM
08/10/20 08:14 PM
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Joined: Dec 2010
Posts: 17,308 lat 34.09 long -86.13
metalmuncher
Old Mossy Horns
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Old Mossy Horns
Joined: Dec 2010
Posts: 17,308
lat 34.09 long -86.13
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Pay off the house, eliminate the interest and double down on what you save. I like it.
Edit; As long as you still have some liquid assets.
Last edited by metalmuncher; 08/10/20 08:15 PM.
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Re: Should I, or should I not?
[Re: fingers]
#3188297
08/10/20 08:14 PM
08/10/20 08:14 PM
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Joined: Jul 2011
Posts: 37,666 Boxes Cove
2Dogs
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 37,666
Boxes Cove
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If you're still working and not having problems making the payments , hold pat. I guess we need to know your interest rate, but at your point most $ is going to principal . How long till retirement ?
Last edited by 2Dogs; 08/10/20 08:20 PM.
"Why do you ask"?
Always vote the slowest path to socialism.
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Re: Should I, or should I not?
[Re: fingers]
#3188298
08/10/20 08:15 PM
08/10/20 08:15 PM
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Joined: Dec 2005
Posts: 2,043 NW Florida
fireman176
8 point
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8 point
Joined: Dec 2005
Posts: 2,043
NW Florida
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Id be concerned about stock market crash. You would be able to payoff home, save the money you were paying for house payments. Talk to a CFP.
Is it Hunting Season Yet?
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Re: Should I, or should I not?
[Re: fingers]
#3188301
08/10/20 08:17 PM
08/10/20 08:17 PM
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Joined: Mar 2018
Posts: 16,939 Banana Republic
jb20
Old Mossy Horns
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Old Mossy Horns
Joined: Mar 2018
Posts: 16,939
Banana Republic
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I would pay it off as long as u still have a good emergency fund in place...i think there is gonna be some tough times ahead that nobody can calculate exactly even a cfp...i went to college to be a financial planner and trust me they don't know either
They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. Ben Franklin
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Re: Should I, or should I not?
[Re: fingers]
#3188310
08/10/20 08:23 PM
08/10/20 08:23 PM
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Joined: Jan 2014
Posts: 10,555 Scottsboro, Al
jbatey1
Lucky Bastage
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Lucky Bastage
Joined: Jan 2014
Posts: 10,555
Scottsboro, Al
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This same thing has crossed my mind lately. I could pull money and pay my house off, but I don't want to drain accounts. Also, I don't like the thought of no having the amount of money that I currently have saved, saved. As weird as that it. I think I'll sit tight on it for a little while and see how I start feeling about it.
Also, as part of the coronavirus relief, Aren't they allowing people to withdraw from retirements with out being penalized or etc for it?
The fool tells me his reasons; the wise man persuades me with my own.
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Re: Should I, or should I not?
[Re: dead_eye]
#3188311
08/10/20 08:25 PM
08/10/20 08:25 PM
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Joined: Mar 2018
Posts: 16,939 Banana Republic
jb20
Old Mossy Horns
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Old Mossy Horns
Joined: Mar 2018
Posts: 16,939
Banana Republic
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You have to find out how much interest its making you sitting there before you decide what to do. In a normal world yes...this isn't normal, stocks will continue up based on money n u may have more but the irony is money is being devalued and were at a point debt bubble is gonna burst...yall trust me on this...i can't say when but it will
They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. Ben Franklin
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Re: Should I, or should I not?
[Re: jbatey1]
#3188312
08/10/20 08:27 PM
08/10/20 08:27 PM
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Joined: Jul 2011
Posts: 37,666 Boxes Cove
2Dogs
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 37,666
Boxes Cove
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This same thing has crossed my mind lately. I could pull money and pay my house off, but I don't want to drain accounts. Also, I don't like the thought of no having the amount of money that I currently have saved, saved. As weird as that it. I think I'll sit tight on it for a little while and see how I start feeling about it.
Also, as part of the coronavirus relief, Aren't they allowing people to withdraw from retirements with out being penalized or etc for it? I read some fine print on that pulling up to 100K out without penalty . You have to have been affected by the virus, lose job, long furlough , etc. I wanted to move 100 out of mine , but after checking I felt like I wouldn't meet the requirements . You just can't do it because you want to.
"Why do you ask"?
Always vote the slowest path to socialism.
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Re: Should I, or should I not?
[Re: fingers]
#3188333
08/10/20 09:03 PM
08/10/20 09:03 PM
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Joined: Jul 2011
Posts: 37,666 Boxes Cove
2Dogs
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 37,666
Boxes Cove
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That 65K payoff really gonna cost 80-90K when you pay taxes?
"Why do you ask"?
Always vote the slowest path to socialism.
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Re: Should I, or should I not?
[Re: woodleyrd]
#3188349
08/10/20 09:15 PM
08/10/20 09:15 PM
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Joined: Sep 2012
Posts: 15,737 ArmPit of the south
DeerNutz0U812_
Old Mossy Horns
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Old Mossy Horns
Joined: Sep 2012
Posts: 15,737
ArmPit of the south
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We just refinanced our house, 2.67% interest, no cash out, lowered payments $400.00/month. Was able to keep all money our in savings/retirement, earning more interest than paying on the mortgage. Damn good move pal....  heck yeah...
Did you know that Beer Nutz are over a Dollar...and Deer Nutz are under a Buck...
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Re: Should I, or should I not?
[Re: 2Dogs]
#3188375
08/10/20 09:44 PM
08/10/20 09:44 PM
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Joined: Apr 2015
Posts: 5,588 Lee County, Alabama
dBmV
12 point
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12 point
Joined: Apr 2015
Posts: 5,588
Lee County, Alabama
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That 65K payoff really gonna cost 80-90K when you pay taxes? This is your answer. Tax hit will kill any benefit you see from early pay off. If your scared of what "might" happen, take it all out and bury it in the back yard.
What you do today, you have to sleep with tonight.
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