And having no other debt..son is off at college. If feels unreal. And I couldn’t care less what ATT does anymore. A surplus would literally be paid vacation from this madness.
Unionized wireless tech here, so I’d get paid to leave. Finally got sh1t by the ba--s
I think that was a reference to Dave Ramsey.
Regarding a layoff, If you just paid off a $300k loan and get laid off, you no longer have $300k to live off of. My mortgage rate is 2.7%, I consider that $300k in the bank cheap money. No way I'm giving it back to the bank while it's earning well over the mortgage rate.
"There's also a thing called the time value of money"
My name isn't Dave.
And we can disagree, it's OK. No need to be a tool bag.
If you want to prepare yourself, the smart thing to do if you're able, is to pay off ALL debt, car loans, mortgage, etc. Then save that 6 months of expenses emergency fund. And hopefully you're still here and after that you can invest like crazy.
OK Dave...
There's also a thing called the time value of money.
" My mortgage is 2% interest. I could pay it off but why"
This isn't "wrong" ; you will find FA's that espouse this theory a lot. I.E you can invest the money that you'd be using to pay down the principal/ pay off the 2% (it's probably actually 3-5% but ok, we get you are embellishing to try to make your point)---ANYWAY, theory being you're going to make a lot more money investing that money you'd use to pay down /off the mortgage. So keep paying your mortgage and invest.
At some level makes mathematical sense, but the factor left out of the equation is RISK. The very real risk that you will suddenly be without that income for a while (read: Layoff) . Would you rather be laid off for a while without a mortgage, or with one? And sure, if you have your i's dotted and t's crossed, you'd have a good emergency fund to carry you through that period. But I'd be willing to bet most won't.
If you want to prepare yourself, the smart thing to do if you're able, is to pay off ALL debt, car loans, mortgage, etc. Then save that 6 months of expenses emergency fund. And hopefully you're still here and after that you can invest like crazy.
Same here. House is paid off. Kids are in college, which I have 529 accounts for. I'm ready "welcome to walmart".
Ditto on I’d be long gone voluntarily if Stank hadn’t gotten rid of the Medicare bridge. Too young to afford catastrophic insurance they allow us to get until 65.
D-mb@$$ Stank. So many people like me now: Hate the company because of the very STUPID handling & micro-frickinh-managing of RTO but will stay, do barest minimum work possible, will cross all my RTO t’s and dot my RTO i’s because that’s all that counts now and pray for the day they surplus me or I make it to 65 and can LEAVE this completely toxic culture company.
IDC, not IDK re: interest rates.
Nearly paid here. IDK if the interest rate is going down; no way in he-l I'm going to buy a house in a new city/state.
"My mortgage is 2% interest. I could pay it off but why."
Same thing, BUT! I only have 9 payments left, so the interest part is less than $10 a month. Going full term on this one.
The best part about a ki-ler low mortgage payment is I could ki-l the 401(k). I'd be thrilled if a surplus came out tomorrow.
Manager, non-union here...
Congrats..well done !!!
" My mortgage is 2% interest. I could pay it off but why."
Peace of mind.
My mortgage is 2% interest. I could pay it off but why.
That’s a good feeling. After that my next goal was to get the kids through college debt free, and I am “almost” there.
Congratulations on managing your life. I am in a similar situation. If Stank had not taken away the retiree medicare bridge I would be gone already!