Actually Len, you write it's a no brainer to pay off the mortgage. One would argue the no brainer would be to stash cash in the bank and like many here and in real life have more in the bank than the mortgage.
It's a lot less risky if you had 2-3x the savings in the bank. BUT you don't. Which is a bit frightening, because certainly that's how I feel. But I believe that eventually having an asset base which is substantial would lessen any risk including a mortgage.
Do you think you'd sleep better with your $120k mortgage gone and $200k in the bank versus, someone here who has a $120k mortgage and $800k in the bank?
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