So paying off your mortgage is the single best thing you can do to get you ready for retirement. In our case we were paying double principals for 5 years and 3 months... guess what! At the end of that time we owned our house and had a whole lot of money that was no longer being paid to a mortgage. So what did we do with that money?
Every month after we paid off the house we continued to make our mortgage payments as we had always done except we were paying them to a 403B tax deferred account. It is amazing how fast that money adds up over the course of a few years. Fully diversified in vanguard accounts makes the money grow even faster due to the lower costs of ownership.
This is one of the best ways to fluff your nest with more dollars for your future retirement. It's not too late to start now as we still have many more Mondays to w*rk before we retire.
So what is next....
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