What would you recommend?

iVillage Member
Registered: 10-01-2008
What would you recommend?
4
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.

Norma


"Patience is the best remedy for every trouble"- Plautus


iVillage Member
Registered: 08-02-1998
Thu, 02-18-2010 - 5:03pm
Hi Norma
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


iVillage Member
Registered: 04-12-2007
Thu, 02-18-2010 - 8:09pm

My opinion is to save for retirement.

iVillage Member
Registered: 10-01-2009
Thu, 02-18-2010 - 10:52pm

Norma...


No question...retirement funds


Duke

iVillage Member
Registered: 11-14-2008
Fri, 02-19-2010 - 11:57am

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