Quote:
Originally Posted by geko29
In today's dollars, $2.5M and the house paid off, which will be done long before we retire. We could pay it off today, but at 2.5% why? That would give us $100k/yr plus whatever meager SS we get to live on, with minimal fixed expenses.
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How does one spend $100k/yr plus $2500+/mo in SS between two people? That's almost $11k/mo. My God, what are you people buying every month to be needing that much spending power per month? LOL
My 76 y/o mother has a $800/mo house payment and has an income of around $3500/mo with SS and a small pension from my deceased father. She rarely spends all of the money every month and she has plenty in saving/investments as well. Lives in a really nice, new and modern home too.