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Retiring early March 1 of 2019 .Pay off house or continue house payments?

  1. #16
    Join Date
    Feb 2018
    Location
    Iowa
    Posts
    5
    I run across that in some of my googling about being cash poor. I recall running into that when we were first married. We thought ohhh this place is wonderful with the higher payments and then found we couldnt even afford to even get out of the driveway.This gives us an opportunity to pause. I have friends who opted to pay interest only in their senior years but they have lived in the same place 25 years so their interest isnt much at all. I figured that and it was double what the principal is. Makes a difference how long you have paid on the home.

  2. #17
    Join Date
    Jul 2016
    Location
    bayside ,queens , ny
    Posts
    1,150
    it makes a difference in what the extra money not dumped in to the house is doing .

  3. #18
    Join Date
    Nov 2017
    Location
    Omaha
    Posts
    46
    Starting in 2012, hubby and I started really paying down our mortgage. Double payments when we could, but always more than our normal house payment every month. We are down to around $9,000 now and will have it totally paid off next year. Due to circumstances, we can't pay as much now on our house payments as we were doing, but it doesn't matter as much now. I can't wait until it is finally paid off. I am tired of giving the banks all that interest. It makes me sick to think how much we have given banks over the years. For that reason alone, I would advise to pay off your mortgage as soon as possible. I will retire in a little less than three years and knowing I won't have a house payment hanging over my head makes the retirement all that more exciting.

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