Fiscal Gurus - what makes the most sense?
I am coming into an inheritance.
Not enough to buy my own island, but enough to get some needed repairs to the house & farm done and have some left over.
Which option makes more sense for the leftover:
1 - pay off 50% of exisiting mortgage
2 - add to pitiful retirement monies
I could easily halve my current mortgage payment that includes an escrow for RE taxes & insurance.
And I'd still have something to add to the retirement funds.
This would make bill-paying a helluva lot easier each month.
Or, I could continue to scramble for the mortgage every couple of months and make my retirement cushion a little more comfortable.
What say you Ants?
(I am definitely a Grasshopper)