Mortgage paydown vs 401k
Hi, I’ll be 61 in January and hope to work only 2 more years. Does it make more financial sense to pay more on my mortgage, paying down the principal (principle??) or to pay more into my 401k?
Thanks
Terry Says
Put more into your 40l(k) — especially if you are getting an employer match! that money will continue to grow tax-deferred.
But while you are still working and thus qualify to refi your mortgage, do it now — getting the rate down below 3%. That in itself will be a big savings.
