CassieNet News :: In the process of getting a mortgage :: RE: 401k Retirement Account

In the process of getting a mortgage :: RE: 401k Retirement Account - How to manage?

Author: sam
Subject: Re:
Posted: Sat Aug 06, 2005 7:05 am (GMT 0)
Topic Replies: 3

Hi Nick

Welcome to MortgageFit forum.

It seems that you and your wife don't want to keep any debt unpaid for a long time and therefore you are intending to pay off the mortgage before its repayment period. Probably you want to gain by getting rid off the interest required to repay the mortgage for its total term. But since you are quite young, I would advise that you contribute more towards your retirement plan. You and your wife may be earning more with inflation in the long run. So your mortgage payment at that time may be a part of your monthly salary. Therefore it is better to focus more on your contribution towards the 401(k) Plan account rather than your mortgage payment.

Hope you have benefited from our advice.

Regards,
Sam

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