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a32167 t1_jdvmcbe wrote

Honestly looks like you're doing as well as you could. Your mortgage is high so it begs to ask about the apr on it vs the rate of return on investments. I e. basically what's more efficient in your case - to pay back the mortgage faster vs to aggregate interest in investments.

Your effective tax rate also seems to be quite high - about 40%. Does the number include interest itemization?

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budgetthrowaway1209 OP t1_jdvq5yg wrote

Interesting, is there a benchmark for the effective tax rate that we should try to get to? I thought we were doing ok since we itemized deductions to a bit more than standard (mortgage interest and state taxes but both are capped) and some solar credits. Will definitely look into this thank you.

Our mortgage rate was a hair over 3%, so I think we’ll be holding onto this one for a while given state of thjngs today…

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a32167 t1_jdxv1dd wrote

Oh yeah with 3% you are definitely best served to have it as long as possible and rather invest the spare cash.

For tax: I got it wrong. As mentioned in the thread 40% is actually a pretty good rate.

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budgetthrowaway1209 OP t1_jdyge6k wrote

Thanks and yes, they’ll have to pry this mortgage out of our cold dead hands, but does make moving for whatever reason more difficult, I suppose.

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