Budgeting
4 months ago
Is it better to pay off my mortgage early or invest the extra money?
42
I'm 42 with a $280k mortgage at 3.25% (15 years remaining). I have an extra $1,000/month to either pay down the mortgage or invest in a taxable brokerage account. At 3.25%, the math says invest since the market averages 7-10%. But the psychological benefit of being debt-free before my kids start college is huge. How do I weigh the math versus the emotional side? What would you recommend?
DR
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