OK, I know this question has been beaten to death, but I'm tired of watching he Buckeyes get smoked by yet another SEC team, and although unrelated, I am someone who obsesses about FIRE. A little background...I am fortunate to have a reasonably good paying job, wife stays home (we are both a couple of years shy of 40), 2 small children, we have no debt other than our house, 401K + Roth is approximately 3.5X salary, taxable account has approx $120K, owe $190K on house, currently max out 401K @ IRS limit, contribute approx 4K/year to kids 529 plan (and have done so since they were born). Recently received Tom Ramsey's book over Christmas and he asserts that any debt is bad debt. I have been considering for some time to pay down the house, and have been contributing ~1k additional pmt each month. I have considered selling out my taxable account and paying down the house, and then paying off the house in the next 2-3 years. Not sure this is smart since I killed myself to build up a reasonable nest egg, but I also hate debt. My current home interest rate is ~5%, I also have a Home Equity Line of Credit, that I consider my emergency fund (is dumb as well??) Any advice and/or criticisms are welcome. My future is dependent upon it. ;-)1putt100
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