We've also decided to pay off our mortgage early. But in our case it's a bit different.
- We both max out 401k's and RothIRA's;
- We also do taxable investing;
Our EF and savings are a bit too high, IMO, so we'll knock down our mortgage after our CDs expire. I don't see Bernanke increasing the rate by 1% or 2% in foreseeable future, so we rather pay off our house loan and replenish savings very slowly.
After the house is paid off, that same monthly payment will go for the 2nd child's daycare.
We don't have 529 or anything for kids' education.
|