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I just received $90,000 from an insurance policy. I now have enough to pay off my house which is worth roughly $300,000, but most of my savings would be depleted. I have a 20 year mortgate @ 6.625% with about 17 years remaining. I have been making additional payments of $100 per month towards principle. Although I have been making some good gains the past two years in the market, I wonder if it makes more sense to pay off the house or keep investing? I know my luck won't hold out forever in the market, whereas I will have a certain peace of mind being debt free. I am married with no children, I am 42 and my wife is 39. I am currently contributing to a 401K and a Roth IRA. I fully realize that I will lose the tax benefits if my house is paid off. Any suggestions?
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