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Its tough to write a personal-finance blog for five years without repeating topics. New readers come and old readers go. Meanwhile, the needs of existing readers are constantly changing. I try not to repeat material too often, but sometimes its clear its time to revisit a subject. Now is one of those times.
Lately, Ive received several questions like this one from Robin, who wants to know if she should pay off her mortgage:
Ive been reading your blog for a while now. Its good for both entertainment and advice, and I like reading through comments on the articles Im interested in and getting all the various points of view from people.
Something I dont think Ive seen addressed yet is this: Ive saved up enough money to pay off our mortgage. Should I do it? Should I pay off part of it? Should I keep it as our ?
Here are some of the rough details of our situation:
Current mortgage amount: $250,000
Current4.625%
Years left on mortgage: 13
Years until retirement (at 58): 15, solid salary expected until then
Current place the money is parked:making 1%
Thoughts about moving: unlikely anytime in the next 4-5 years, cant say beyond that
Other
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