Re: When the house is paid off... then what?
We have quite a while left on our mortgage (20 years at the most but plan to pay it off well before then). If we were in your shoes I would max out ou retirement contributions and the kids college funds. I would then probably put money into each child's saving account each month as well as put money into a vacation fund and a new car fund. I know you want to be able to leave your kids a nice inheritance but I feel that there is a lot to say about the value in making memories. They will probably really appreciate a large amount of inheritance but family vacations and time spent together might hold more value. (I'm not saying that one has to take vacations with their kids in order to make memories). I hope to do a lot of traveling with my kids as they get older.
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