Hello all,
I'm trying to decide whether I should pay down a 30 year fixed mortgage at 3.875 with about 550K left on a 1M home that I plan on living in forever; or invest in my taxable account?
I already contribute max to two 401ks, hsa, 2 back door roths, ... all other debts have ostensibly been paid off. so it would just be where excess income goes..
my thoughts are this: I should contribute to my taxable until I reach my financial goals for retirement, then use the income earned in this account to pay down the house whenever this goal is reached, but I just want to make sure I'm thinking about it the right way..
I know we're not supposed to "time" the market, but my other thought was since the market is doing very well right now, it might be time to pay down debts, and then when we have a market correction to start investing at that point (although, I still would be investing with all of the retirement accounts) so this was kind of a way to hedge my bets??
Thanks!!
I'm trying to decide whether I should pay down a 30 year fixed mortgage at 3.875 with about 550K left on a 1M home that I plan on living in forever; or invest in my taxable account?
I already contribute max to two 401ks, hsa, 2 back door roths, ... all other debts have ostensibly been paid off. so it would just be where excess income goes..
my thoughts are this: I should contribute to my taxable until I reach my financial goals for retirement, then use the income earned in this account to pay down the house whenever this goal is reached, but I just want to make sure I'm thinking about it the right way..
I know we're not supposed to "time" the market, but my other thought was since the market is doing very well right now, it might be time to pay down debts, and then when we have a market correction to start investing at that point (although, I still would be investing with all of the retirement accounts) so this was kind of a way to hedge my bets??
Thanks!!
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