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Time to bump up that 401k
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<blockquote data-quote="olroadbeech" data-source="post: 2502846" data-attributes="member: 52145"><p>If </p><p></p><p>you have maxed out your retirement plans , a good course of action is to pay down your mortgage no matter the interest rate. we started adding an extra 100 a month to the principle and quickly bumped it up to 500 over a few years. did not really miss that money when I ran the numbers.</p><p></p><p>the mortgage was paid off in 17 years instead of 30 and we saved about $135,000 in interest . The BIG bonus was that I was able to retire 5 years earlier . I did not have to wait for social security to help pay the house payment.</p><p></p><p>and the peace of mind is priceless.</p></blockquote><p></p>
[QUOTE="olroadbeech, post: 2502846, member: 52145"] If you have maxed out your retirement plans , a good course of action is to pay down your mortgage no matter the interest rate. we started adding an extra 100 a month to the principle and quickly bumped it up to 500 over a few years. did not really miss that money when I ran the numbers. the mortgage was paid off in 17 years instead of 30 and we saved about $135,000 in interest . The BIG bonus was that I was able to retire 5 years earlier . I did not have to wait for social security to help pay the house payment. and the peace of mind is priceless. [/QUOTE]
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Time to bump up that 401k
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