Paying off My Mortgage Little by Little

[frugalkristen]

I've finally decided to pay off my mortgage.  I went back and forth for a while but decided that I don't want any debt and paying this off will help me sleep at night.  I have no other debt and do have savings/investments (net worth about $440,000).  I am recently divorced (on my own 10/2014 and divorced 11/2015).  At 47, I support myself (previously a stay at home mom to four for 22 years - went back to work in 2014 and left a bad situation - declined all alimony and couldn't be happier!).  Having this goal will make me think about every single penny - everything I can throw at this debt is important.  Here are the details:

Purchased 10/2014 for $122,000 and took out a loan for $85,000. 

Currently 1/15/17 $81,816.49 left.

I'll put a few hundred toward it every month but might get more aggressive if possible.  I don't earn too much (plenty for what I need) but want to kill this debt.  I do put money in my 401K and max my Roth every year.  This is the next step.  I keep everyone updated!

[boarder42]

Are you maxing your 401k. BC when this debate comes up it's assumed tax advantaged accounts are being maximized prior to paying a mortgage down with taxable money. When a 401k is left in maxed in lieu of paying a mortgage down it leaves piles of money on the table.

[CheapScholar]

I agree with boarder42.  I apply more to my mortgage every month, but I would never do that before maxing out my 403b at 18k per year.  The tax savings are too good to pass up.

[plainjane]

http://forum.mrmoneymustache.com/throw-down-the-gauntlet/mortgage-payoff-club!!/ has a crew of like-minded folks :)