What would you recommend?
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What would you recommend?
| Thu, 02-18-2010 - 2:19pm |
DH has an IRA coming due on 3-17-10 that is currently on a six month renewal term.
| Thu, 02-18-2010 - 2:19pm |
DH has an IRA coming due on 3-17-10 that is currently on a six month renewal term.
I am about the same age as you and my priority is getting my mortgage paid off. The way I figure it is, if my mortgage is paid off that is one (larger) payment each month I don't have.
Sharon
My opinion is to save for retirement.
Norma...
No question...retirement funds
Duke
Norma,
I don't know who told me this, I can't remember, and I'm not sure I agree with it completely but here goes.
"Retirement is great, but you can't eat a house."
Would it be nice for you and DH to have the house paid off? Absolutely! Is it realistic to save/invest and pay down the house at the same time? I don't know. You will have to do the math.
I will say this though. I would invest mostly and put a bit more on the house mortgage. I would do both. It will be nice for you two to have a little cushion. That way if you can't quite retire when you want to, maybe you could just work part time. It would be more fun to work part time to pay off a house than it would be to work for food and bills later in life.
This is just my opinion. I hope you have enough to retire AND the house is paid off. The only way to do this is pick a date(or a few scenerios) and do the math. You will feel better if you have a plan.
K