Well, it depends. How soon do you want to retire? What is your annual income? It your mortgage fixed or variable? How much longer do you have to pay on it? Where is all that 600k? Retirement accounts? How old are you? How old is your husband? Do you intend to live in the house long-term? How many children do you have, how old are they and do you plan to have more? Do you itemize deductions? What percentage of your income do you save?
That's good. Here are the answers:
--Annual income varies, maybe $75-$125 (depends on bonuses), we've been over $100 for several years but it depends on sales.
--Fixed rate mortgage
--How many years left? Hmmm… it matures at the end of 2025 (11 years left)
--Mid-40s, 3 elementary school kids, we've been here a long time and plan to stay unless we downsize after the kids are grown, or unless there is a big, big reason to move that comes up.
--We itemize deductions
--I don't know our savings rate. This year is an experiment in figuring that stuff out in detail. I'm guessing we have saved 15-20k / year historically. This will be the first time really getting serious about maximizing our savings.
--Most savings is in retirement/deferred stuff. I do have 80kish in a taxable account.
--I don't know when my husband wants to retire. He doesn't love his job and I would love for him to be financially free so working is optional and he can keep the job or leave or change.
Thanks! Let me know if you have any further insights.