Which would you do with a small windfall? Pay remaining mortgage or 3-fund it?

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lazynovice
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Joined: Mon Apr 16, 2012 10:48 pm
Location: Denver area. Former Texan.

Re: Which would you do with a small windfall? Pay remaining mortgage or 3-fund it?

Post by lazynovice »

Orange_Philosophy wrote: Mon May 17, 2021 4:18 pm I thought I'd come back and update. Checks all finally clear after closing and I got a little more than expected but in the end I decided to pay off the house and keep the $100K left over to pay the IRS their cut and invest the rest. I now have zero debt @52 hoping to stick a fork in it in 4 years or so.
Congratulations!
bradinsky
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Joined: Sat Jul 21, 2018 6:32 am
Location: Ohio

Re: Which would you do with a small windfall? Pay remaining mortgage or 3-fund it?

Post by bradinsky »

Orange_Philosophy wrote: Mon May 17, 2021 4:18 pm I thought I'd come back and update. Checks all finally clear after closing and I got a little more than expected but in the end I decided to pay off the house and keep the $100K left over to pay the IRS their cut and invest the rest. I now have zero debt @52 hoping to stick a fork in it in 4 years or so.
I think that was a wise decision on your part. I think it’s a great feeling to know that you own your home free & clear. Many never achieve that. Congratulations!

Brad
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steve roy
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Joined: Thu May 13, 2010 5:16 pm

Re: Which would you do with a small windfall? Pay remaining mortgage or 3-fund it?

Post by steve roy »

Since our mortgage rate is 2.7%, we would three-fund it, figuring we would beat 2.7% in most years.
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