Hello -
I would love some advice. My husband is approx. 15 years away from retirement (not looking to retire earlier) and we are on track to reach our "number" when we get there. In fact, we are currently saving 23% of my husband's gross salary toward retirement. (401K, Backdoor Roth, Mutual Funds.)
College for the kids is on-track to be fully-funded (at least undergrad. Hoping we will be able to help with graduate school if needed.) We have an Emergency Fund of almost 6 months put aside/available - and my husband's job situation is very stable.
Here is my question: Should we drop our retirement savings down to 20% and use the additional 3% to
1. pay down the house?
2. invest it into a "pay down the house" mutual fund and then make a lump-sum payment at some point? Or
3. continue saving toward retirement?
I should add that we currently owe $360k on the house at 3.5% interest. We have no additional debt.
Thanks you in advance for sharing your opinions! Oh...and is there something I have not considered?
I would love some advice. My husband is approx. 15 years away from retirement (not looking to retire earlier) and we are on track to reach our "number" when we get there. In fact, we are currently saving 23% of my husband's gross salary toward retirement. (401K, Backdoor Roth, Mutual Funds.)
College for the kids is on-track to be fully-funded (at least undergrad. Hoping we will be able to help with graduate school if needed.) We have an Emergency Fund of almost 6 months put aside/available - and my husband's job situation is very stable.
Here is my question: Should we drop our retirement savings down to 20% and use the additional 3% to
1. pay down the house?
2. invest it into a "pay down the house" mutual fund and then make a lump-sum payment at some point? Or
3. continue saving toward retirement?
I should add that we currently owe $360k on the house at 3.5% interest. We have no additional debt.
Thanks you in advance for sharing your opinions! Oh...and is there something I have not considered?
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