Viewing a single comment thread. View all comments

wickedkittylitter t1_jaewurz wrote

I wouldn't pay off cheap debt. A 3% mortgage is cheap debt. Your wife would be better off investing the $70k and getting a decent return on her money. If you only pay your wife $500 per month for 6 years, she gets no return on her money for that entire time period.

7

Niko120 OP t1_jaexp5b wrote

Even in a high yield savings account at 4% return (this is how we are currently investing) her 70+my 50 would would only get us $33,600 in that 6yr period that’s less than half of what we would save on the interest of the mortgage

−1

Rave-Unicorn-Votive t1_jaey7on wrote

But you don't "invest" $120k in a HYSA, you invest in the market which will likely pay more than 4% over the next 20 years.

5