I feel so exasperated, but at the same time oh-so optimistic. Stemming from the "paying off your mortgage early" thread, I've decided what would be more beneficial to my family and I. Its time to take the bull by its horns and pay my mortgage off sooner than later. We have a 30 yr fixed mortgage loan, and we will be contributing enough to pay it off in 8-10 yrs. Im very nervous to do this, I think this will signify dh's and my financial freedom/stability at a young age of 33 or 34 years old. After this is done, God first, we wil be able to catch back up investing on the side, for dh is fully contributing to his 401k and roth ira accts. We have some liquid assets, a little more than the 6 mo. living expenses (emergency fund) but after this I will be able to breathe comfortably. I can't hardly wait to see what it feels like to be done with my mortgage, but I wanna do this for us and I want both of our parents to see us succeed. Ahhh...please wish us luck and thanks for reading this long, anxious vent.

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*Jai guru deva om*
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Congratulations & Good Luck!

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Good Luck!!

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SAHM to MacKenzie 09/10/03, Brooke 09/21/05, KayLynn 04/23/08 and WIFE to Fred 6 years

GOOD FOR YOU!!! And good luck!

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I think you need to reread that thread. I am not saying I don't commend you for trying to get out from under debt, but given your YOUNG age, there are much better ways to make your money work for you. Kim and I explained it pretty thoroughly in that thread. Paying off a mortgage in your early 30's isn't like paying off your credit card or other consumer debt. You could make much more money in the long run investing the same amoung other ways. JMO

Thanks so much for your input, I definitely did read it and I was definitely enthused to go in both directions. However, it feels "right" to pay off my mortgage, my parents did it and they are sitting extremely comfortably even if they're barely in their early 50's. In about a year we will be able to get back to normal if I get a job when my ds and dd are in school full time. This will enable me to contribute every penny towards the principal of the mortgage loan and my dh will get back to actively investing.
Thanks again to all of you for the good vibes

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*Jai guru deva om*
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YAAY!!!!!

Congratulations.

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A Family of 5's quest to forget the Joneses.

Congradulations and you will feel so much better.

Dh and I paid off ours in 2005, and with the price of everything going up and so many homes in foreclosure. That is one thing that we are sure of is that we will always have a house because it is paid for.

I think this is great. Showing the discipline to pay it off early is a good indication that you can go back and catch up on your investments too. Overall, financial discipline is a must and you are certainly showing that. My dh's parents have had their house paid off for 15 years and they are primed and ready for retirement--except that my fil loves his job so much we can't get him to retire yet. Staying in the house so long has allowed them the financial ability to plan retirement comfortably. My dh plans on doing the same.

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