Wayne Ernst
Senior HTF Member
- Joined
- Feb 24, 2002
- Messages
- 2,588
10 years ago, I would have easily said that I'd pay off the mortgage. However, today, there are much bigger issues. For example:
1) My real estate assessments have gone up +20% each year for the past 4 years. Granted, this is not a bad position to be in because when it comes time to sell, a good pay-off could potentially exist.
2) Healthcare insurance. For a period of 2 years, I was faced with paying 100% of the healthcare premiums for my family's medical insurance. At the time, coverage for 3 of us was about $550 a month. This was 1/2 the amount of my current mortgage. Fortunately, I'm gainfully employed by an employer that covers a good portion of the premiums once again.
If I came into such money, which could more-than-likely happen in the next few years, I'd consult the opinion of a finacial specialist - or, at least get the opinions on what would be best to do from more than one person.
1) My real estate assessments have gone up +20% each year for the past 4 years. Granted, this is not a bad position to be in because when it comes time to sell, a good pay-off could potentially exist.
2) Healthcare insurance. For a period of 2 years, I was faced with paying 100% of the healthcare premiums for my family's medical insurance. At the time, coverage for 3 of us was about $550 a month. This was 1/2 the amount of my current mortgage. Fortunately, I'm gainfully employed by an employer that covers a good portion of the premiums once again.
If I came into such money, which could more-than-likely happen in the next few years, I'd consult the opinion of a finacial specialist - or, at least get the opinions on what would be best to do from more than one person.