Mortgage Balance - March 2022 (LATE POST)

                  

If you have viewed our family's Net Worth Page, you probably already know that it does not include equity in our home.  Although we do realize that it is technically part of our overall net worth, we decided that since our home equity is not an asset that we can count on for income (unless we sell and buy something cheaper) we would exclude it from our net worth calculation.

For the purpose of this blog, we are more interested in documenting our loan balance rather than our home equity.  With that said, we will use the current Zillow value as our estimated home value and use it to figure out the percentage we owe on our home. For those interested, we will include the amount of our home equity but know that we are less concerned with the equity since we have no plans to cash out or otherwise sell our home. Our main goal is to pay off our home on or before my retirement date. 

HOME VALUE:

It's official! According to Zillow, our home is currently worth $1,352,700 (up $32,400 in the last 30-days). Not sure if everyone else is seeing the same but the housing market is still out of control here in Southern California. 

Mortgage Balance (As of March 1st):
$159,402 (down $2,631 from our February balance)

Percentage Owed:
11.7% (down .6%)

Home Equity: 
$1,193,298 (up $35,031)
   

Mortgage Background:
For those that have not read the Preface on our home equity, we currently hold a 15-year fixed-rate mortgage at an awesome rate of 2.875%.  My goal is to retire within 5 years and 5 months (65 months) so we are setting out to pay off our mortgage on or before my retirement date. Right now we are a few months behind the target retirement date. Currently, we have approximately 5 years and 11 months (71 months) left on our mortgage. Personally, I would like to have it paid off before I retire, and ideally a couple of years beforehand. If we accomplish that, I plan to use the money we use to pay our mortgage and aggressively build our passive income to help supplement our retirement and defer tapping into the 457K for as long as possible so it can continue to grow. 

With my wife back to work, we are blessed that we now have more money to both invest and through towards the mortgage. We did some home improvement projects last year but this year has been all about building wealth and decreasing our mortgage payoff date. We are actively buying dividend stocks again and thereafter throwing unspent monies towards the mortgage balance. At a certain point, we may consider using some of the money from our dividend stocks account to wipe out the remaining mortgage balance. The dividend stocks account is roughly 65% of our mortgage balance so there isn't enough just yet. But the idea is to build the dividend stocks account while simultaneously decreasing the mortgage balance until both numbers are equal. At that point, whether we decide to do it or not, the option would exist to wipe out the mortgage using the dividend stocks account. 

Mortgage Balance (UPDATE) - February 2022

                 

If you have viewed our family's Net Worth Page, you probably already know that it does not include equity in our home.  Although we do realize that it is technically part of our overall net worth, we decided that since our home equity is not an asset that we can count on for income (unless we sell and buy something cheaper) we would exclude it from our net worth calculation.

For the purpose of this blog, we are more interested in documenting our loan balance rather than our home equity.  With that said, we will use the current Zillow value as our estimated home value and use it to figure out the percentage we owe on our home. For those interested, we will include the amount of our home equity but know that we are less concerned with the equity since we have no plans to cash out or otherwise sell our home. Our main goal is to pay off our home on or before my retirement date. 

HOME VALUE:

It's official! According to Zillow, our home is currently worth $1,320,300 (up $72,250 in the last 30-days). Wow!! Yes, that is not a typo. Not sure if everyone else is seeing the same but the housing market is still out of control here in Southern California. 

As mentioned in our post back in May of last year, a nearby home in our community sold for an unexpected $1.4 million dollars! We can't believe the home sold for as much as it did! More importantly, we can't believe that we now own a home that is worth over $1 million, and still climbing! And as of September of last year, our family is now sitting on a million dollars in home equity....and it appears to be growing each and every month!

Mortgage Balance (As of February 1st):
$162,033 (down $2,611 from our January balance)

Percentage Owed:
12.3% (down 1.0%)

Home Equity: 
$1,158,267 (up $86,711)
   

Mortgage Background:
For those that have not read the Preface on our home equity, we currently hold a 15-year fixed-rate mortgage at an awesome rate of 2.875%.  My goal is to retire within 5 years and 6 months (66 months) so we are setting out to pay off our mortgage on or before my retirement date. Right now we are a few months behind the target retirement date. Currently, we have approximately 6 years and 0 months (72 months) left on our mortgage. Personally, I would like to have it paid off before I retire, and ideally a couple of years beforehand. If we accomplish that, I plan to use the money we use to pay our mortgage and aggressively build our passive income to help supplement our retirement and defer tapping into the 457K for as long as possible so it can continue to grow. 

With my wife back to work, we are blessed that we now have more money to both invest and through towards the mortgage. We did some home improvement projects last year but this year has been all about building wealth and decreasing our mortgage payoff date. We are actively buying dividend stocks again and thereafter throwing unspent monies towards the mortgage balance. At a certain point, we may consider using some of the money from our dividend stocks account to wipe out the remaining mortgage balance. The dividend stocks account is roughly 65% of our mortgage balance so there isn't enough just yet. But the idea is to build the dividend stocks account while simultaneously decreasing the mortgage balance until both numbers are equal. At that point, whether we decide to do it or not, the option would exist to wipe out the mortgage using the dividend stocks account. 

Mortgage Balance (UPDATE) - January 2022

                

If you have viewed our family's Net Worth Page, you probably already know that it does not include equity in our home.  Although we do realize that it is technically part of our overall net worth, we decided that since our home equity is not an asset that we can count on for income (unless we sell and buy something cheaper) we would exclude it from our net worth calculation.

For the purpose of this blog, we are more interested in documenting our loan balance rather than our home equity.  With that said, we will use the current Zillow value as our estimated home value and use it to figure out the percentage we owe on our home. For those interested, we will include the amount of our home equity but know that we are less concerned with the equity since we have no plans to cash out or otherwise sell our home. Our main goal is to pay off our home on or before my retirement date. 

HOME VALUE:

It's official! According to Zillow, our home is currently worth $1,236,200 (up $2,842 in the last 30-days). Wow!! Yes, that is not a typo. In fact, our home value has gone up almost $330K since the beginning of the year. Not sure if everyone else is seeing the same but the housing market is out of control here in Southern California. 

As mentioned in our post back in May, a nearby home in our community sold for an unexpected $1.4 million dollars! We can't believe the home sold for as much as it did! More importantly, we can't believe that we now own a home that is worth over $1 million, and still climbing! And as of September of this year, our family is now sitting on a million dollars in home equity!!

Mortgage Balance (As of January 1st):
$164,644 (down $2,575 from our December balance)

Percentage Owed:
13.3% (down 0.2%)

Home Equity: 
$1,071,556 (up $2,200)
   

Mortgage Background:
For those that have not read the Preface on our home equity, we currently hold a 15-year fixed-rate mortgage at an awesome rate of 2.875%.  My goal is to retire within 5 years and 7 months (67 months) so we are setting out to pay off our mortgage on or before my retirement date. Right now we are a few months behind the target retirement date. Currently, we have approximately 6 years and 1 month (73 months) left on our mortgage. Personally, I would like to have it paid off before I retire, and ideally a couple of years beforehand. If we accomplish that, I plan to use the money we use to pay our mortgage and aggressively build our passive income to help supplement our retirement and defer tapping into the 457K for as long as possible so it can continue to grow. 

With my wife back to work, we are blessed that we now have more money to both invest and through towards the mortgage. We did some home improvement projects last year but this year has been all about building wealth and decreasing our mortgage payoff date. We are actively buying dividend stocks again and thereafter throwing unspent monies towards the mortgage balance. At a certain point, we may consider using some of the money from our dividend stocks account to wipe out the remaining mortgage balance. The dividend stocks account is roughly 60% of our mortgage balance so there isn't enough just yet. But the idea is to build the dividend stocks account while simultaneously decreasing the mortgage balance until both numbers are equal. At that point, whether we decide to do it or not, the option would exist to wipe out the mortgage using the dividend stocks account. 

Mortgage Balance (UPDATE) - December 2021

               

This is a late post but work has been kicking my butt and I haven't really had much time to do anything other than work, family, a little bit of exercise, and sleep. I know there is no set time that a post needs to go out but regardless of how busy I get, I usually always try to do a monthly temperature reading on our family's finances. Our monthly mortgage balance update is one part of that temperature reading. So here it is, our December mortgage udpate: 

If you have viewed our family's Net Worth Page, you probably already know that it does not include equity in our home.  Although we do realize that it is technically part of our overall net worth, we decided that since our home equity is not an asset that we can count on for income (unless we sell and buy something cheaper) we would exclude it from our net worth calculation.

For the purpose of this blog, we are more interested in documenting our loan balance rather than our home equity.  With that said, we will use the current Zillow value as our estimated home value and use it to figure out the percentage we owe on our home. For those interested, we will include the amount of our home equity but know that we are less concerned with the equity since we have no plans to cash out or otherwise sell our home. Our main goal is to pay off our home on or before my retirement date. 

HOME VALUE:

It's official! According to Zillow, our home is currently worth $1,237,000 (up $28,300 in the last 30-days). Wow!! Yes, that is not a typo. In fact, our home value has gone up almost $330K since the beginning of the year. Not sure if everyone else is seeing the same but the housing market is out of control here in Southern California. 

As mentioned in our post back in May, a nearby home in our community sold for an unexpected $1.4 million dollars! We can't believe the home sold for as much as it did! More importantly, we can't believe that we now own a home that is worth over $1 million, and still climbing! And as of September of this year, our family is now sitting on a million dollars in home equity!!

Mortgage Balance (As of November 1st):
$167,219 (down $2,493 from our November post)

Percentage Owed:
13.5% (down 0.5% since our November post)

Home Equity: 
$1,069,356 (up $30,393 from our November post)
   

Mortgage Background:
For those that have not read the Preface on our home equity, we currently hold a 15-year fixed-rate mortgage at an awesome rate of 2.875%.  My goal is to retire within 5 years and 8 months (68 months) so we are setting out to pay off our mortgage on or before my retirement date. Right now we are a few months behind the target retirement date. Currently, we have approximately 6 years and 2 months (74 months) left on our mortgage. Personally, I would like to have it paid off before I retire, and ideally a couple of years beforehand. If we accomplish that, I plan to use the money we use to pay our mortgage and aggressively build our passive income to help supplement our retirement and defer tapping into the 457K for as long as possible so it can continue to grow. 

With my wife back to work, we are blessed that we now have more money to both invest and through towards the mortgage. We did some home improvement projects last year but this year has been all about building wealth and decreasing our mortgage payoff date. We are actively buying dividend stocks again and thereafter throwing unspent monies towards the mortgage balance. At a certain point, we may consider using some of the money from our dividend stocks account to wipe out the remaining mortgage balance. The dividend stocks account is roughly 60% of our mortgage balance so there isn't enough just yet. But the idea is to build the dividend stocks account while simultaneously decreasing the mortgage balance until both numbers are equal. At that point, whether we decide to do it or not, the option would exist to wipe out the mortgage using the dividend stocks account. 

Mortgage Balance (UPDATE) - November 2021

              

If you have viewed our family's Net Worth Page, you probably already know that it does not include equity in our home.  Although we do realize that it is technically part of our overall net worth, we decided that since our home equity is not an asset that we can count on for income (unless we sell and buy something cheaper) we would exclude it from our net worth calculation.

For the purpose of this blog, we are more interested in documenting our loan balance rather than our home equity.  With that said, we will use the current Zillow value as our estimated home value and use it to figure out the percentage we owe on our home. For those interested, we will include the amount of our home equity but know that we are less concerned with the equity since we have no plans to cash out or otherwise sell our home. Our main goal is to pay off our home on or before my retirement date. 

HOME VALUE:

It's official! According to Zillow, our home is currently worth $1,208,700 (up $15,600 in the last 30-days). Wow!! Yes, that is not a typo. In fact, our home value has gone up almost $300K since the beginning of the year. Not sure if everyone else is seeing the same but the housing market is out of control here in Southern California. 

As mentioned in our post back in May, a nearby home in our community sold for an unexpected $1.4 million dollars! We can't believe the home sold for as much as it did! More importantly, we can't believe that we now own a home that is worth over $1 million, and still climbing! And as of September of this year, our family is now sitting on a million dollars in home equity!!

Mortgage Balance (As of November 1st):
$169,737 (down $2,487 from our October post)

Percentage Owed:
14.0% (down 0.3% since our October post)

Home Equity: 
$1,038,963 (up $13,087 from our October post)
   

Mortgage Background:
For those that have not read the Preface on our home equity, we currently hold a 15-year fixed-rate mortgage at an awesome rate of 2.875%.  My goal is to retire within 5 years and 9 months (69 months) so we are setting out to pay off our mortgage on or before my retirement date. Right now we are a few months behind the target retirement date. Currently, we have approximately 6 years and 3 months (75 months) left on our mortgage. Personally, I would like to have it paid off before I retire, and ideally a couple of years beforehand. If we accomplish that, I plan to use the money we use to pay our mortgage and aggressively build our passive income to help supplement our retirement and defer tapping into the 457K for as long as possible so it can continue to grow. 

With my wife back to work, we are blessed that we now have more money to both invest and through towards the mortgage. We did some home improvement projects last year but this year has been all about building wealth and decreasing our mortgage payoff date. We are actively buying dividend stocks again and thereafter throwing unspent monies towards the mortgage balance. At a certain point, we may consider using some of the money from our dividend stocks account to wipe out the remaining mortgage balance. The dividend stocks account is roughly 60% of our mortgage balance so there isn't enough just yet. But the idea is to build the dividend stocks account while simultaneously decreasing the mortgage balance until both numbers are equal. At that point, whether we decide to do it or not, the option would exist to wipe out the mortgage using the dividend stocks account. 

Mortgage Balance (UPDATE) - October 2021

             

If you have viewed our family's Net Worth Page, you probably already know that it does not include equity in our home.  Although we do realize that it is technically part of our overall net worth, we decided that since our home equity is not an asset that we can count on for income (unless we sell and buy something cheaper) we would exclude it from our net worth calculation.

For the purpose of this blog, we are more interested in documenting our loan balance rather than our home equity.  With that said, we will use the current Zillow value as our estimated home value and use it to figure out the percentage we owe on our home. For those interested, we will include the amount of our home equity but know that we are less concerned with the equity since we have no plans to cash out or otherwise sell our home. Our main goal is to pay off our home on or before my retirement date. 

HOME VALUE:

It's official! According to Zillow, our home is currently worth $1,198,100 (up $21,490 in the last 30-days). Wow!! Yes, that is not a typo. In fact, our home value has gone up almost $300K since the beginning of the year. Not sure if everyone else is seeing the same but the housing market is out of control here in southern California. As mentioned in our post back in May, a nearby home in our community sold for an unexpected $1.4 million dollars! We can't believe the home sold for as much as it did! More importantly, we can't believe that we now own a home that is worth over $1 million, and still climbing! And as of September of this year, we are now sitting on a million dollars in home equity!!

Mortgage Balance (As of October 1st):
$172,224 (down $2,482 from our September post)

Percentage Owed:
14.3% (down 0.4% since our September post)

Home Equity: 
$1,025,876 (up $16,682 from our September post)
   

Mortgage Background:
For those that have not read the Preface on our home equity, we currently hold a 15-year fixed-rate mortgage at an awesome rate of 2.875%.  My goal is to retire within 5 years and 10 months (70 months) so we are setting out to pay off our mortgage on or before my retirement date. Right now we are a few months behind the target retirement date. Currently, we have approximately 6 years and 4 months (76 months) left on our mortgage. Personally, I would like to have it paid off before I retire, and ideally a couple of years beforehand. If we accomplish that, I plan to use the money we use to pay our mortgage and aggressively build our passive income to help supplement our retirement and defer tapping into the 457K for as long as possible so it can continue to grow. 

With my wife back to work, we are blessed that we now have more money to both invest and through towards the mortgage. We did some home improvement projects last year but this year has been all about building wealth and decreasing our mortgage payoff date. We are actively buying dividend stocks again and thereafter throwing unspent monies towards the mortgage balance. At a certain point, we may consider using some of the money from our dividend stocks account to wipe out the remaining mortgage balance. The dividend stocks account is roughly 60% of our mortgage balance so there isn't enough just yet. But the idea is to build the dividend stocks account while simultaneously decreasing the mortgage balance until both numbers are equal. At that point, whether we decide to do it or not, the option would exist to wipe out the mortgage using the dividend stocks account. 

Mortgage Balance (UPDATE) - September 2021

            

If you have viewed our family's Net Worth Page, you probably already know that it does not include equity in our home.  Although we do realize that it is technically part of our overall net worth, we decided that since our home equity is not an asset that we can count on for income (unless we sell and buy something cheaper) we would exclude it from our net worth calculation.

For the purpose of this blog, we are more interested in documenting our loan balance rather than our home equity.  With that said, we will use the current Zillow value as our estimated home value and use it to figure out the percentage we owe on our home. For those interested, we will include the amount of our home equity but know that we are less concerned with the equity since we have no plans to cash out or otherwise sell our home. Our main goal is to pay off our home on or before my retirement date. 

HOME VALUE:

It's official! According to Zillow, our home is currently worth $1,183,900 ($34,000) in the last 30-days). Wow!! Yes, that is not a typo. In fact, our home value has gone up almost $200K in the last several months. Not sure if everyone else is seeing the same but the housing market is out of control here in southern California. As mentioned in our post back in May, a nearby home in our community sold for an unexpected $1.4 million dollars! We can't believe the home sold for as much as it did! More importantly, we can't believe that we now own a home that is worth over $1 million! And as of this past month, we are officially sitting on a million dollars in home equity!!

Mortgage Balance (As of September 1st):
$174,706 (down $2,376 from our August post)

Percentage Owed:
14.7% (down 0.8% since our August post)

Home Equity: 
$1,009,194 (up $40,676 from our August post)
   

Mortgage Background:
For those that have not read the Preface on our home equity, we currently hold a 15-year fixed-rate mortgage at an awesome rate of 2.875%.  My goal is to retire within 5 years and 11 months (71 months) so we are setting out to pay off our mortgage on or before my retirement date. Right now we are a few months behind the target retirement date. Currently, we have approximately 6 years and 5 months (77 months) left on our mortgage. Nevertheless, I would like to have it paid off in roughly 5 years. If we accomplish that, I plan to use the money we use to pay our mortgage and aggressively build our passive income to help supplement our retirement and defer tapping into the 457K for as long as possible so it can continue to grow. 

Right now we are not putting any extra money towards the principal given our low 2.875% interest rate. We feel that we could make our money grow faster by investing it and while keeping the money more liquid. At a certain point, we may consider using some of the money from our investment accounts to wipe out the remaining mortgage balance.  Until then, we will continue to grow that money outside, rather than have it locked into our home.

Mortgage Balance (UPDATE) - August 2021

           

If you have viewed our family's Net Worth Page, you probably already know that it does not include equity in our home.  Although we do realize that it is technically part of our overall net worth, we decided that since our home equity is not an asset that we can count on for income (unless we sell and buy something cheaper) we would exclude it from our net worth calculation.

For the purpose of this blog, we are more interested in documenting our loan balance rather than our home equity.  With that said, we will use the current Zillow value as our estimated home value and use it to figure out the percentage we owe on our home. For those interested, we will include the amount of our home equity but know that we are less concerned with the equity since we have no plans to cash out or otherwise sell our home. Our main goal is to pay off our home on or before my retirement date. 

HOME VALUE:

It's official! According to Zillow, our home is currently worth $1,145,600 ($48,771 in the last 30-days). Wow!! Yes, that is not a typo. In fact, our home value has gone up almost $150K in the last months. Not sure if everyone else is seeing the same but the housing market is out of control here in southern California. As mentioned in our post back in May, a nearby home in our community sold for an unexpected $1.4 million dollars! We can't believe the home sold for as much as it did! More importantly, we can't believe that we now "almost" own a home that is worth over $1 million! If things continue, we could be sitting on a million dollars in home equity by the end of the year!!

Mortgage Balance (As of August 1st):
$177,082 (down $4,535 from our July post)

Percentage Owed:
15.5% (down 0.7% since our July post)

Home Equity: 
$968,518 (up $31,735 from our July post)
   

Mortgage Background:
For those that have not read the Preface on our home equity, we currently hold a 15-year fixed-rate mortgage at an awesome rate of 2.875%.  My goal is to retire within 5 years and 10 months (70 months) so we are setting out to pay off our mortgage on or before my retirement date. Right now we are a few months behind the target retirement date. Currently, we have approximately 6 years and 6 months (78 months) left on our mortgage. Nevertheless, I would like to have it paid off in roughly 5 years. If we accomplish that, I plan to use the money we use to pay our mortgage and aggressively build our passive income to help supplement our retirement and defer tapping into the 457K for as long as possible so it can continue to grow. 

Right now we are not putting any extra money towards the principal given our low 2.875% interest rate. We feel that we could make our money grow faster by investing it and while keeping the money more liquid. At a certain point, we may consider using some of the money from our investment accounts to wipe out the remaining mortgage balance.  Until then, we will continue to grow that money outside, rather than have it locked into our home.

Mortgage Balance (UPDATE) - July 2021

          

If you have viewed our family's Net Worth Page, you probably already know that it does not include equity in our home.  Although we do realize that it is technically part of our overall net worth, we decided that since our home equity is not an asset that we can count on for income (unless we sell and buy something cheaper) we would exclude it from our net worth calculation.

For the purpose of this blog, we are more interested in documenting our loan balance rather than our home equity.  With that said, we will use the current Zillow value as our estimated home value and use it to figure out the percentage we owe on our home. For those interested, we will include the amount of our home equity but know that we are less concerned with the equity since we have no plans to cash out or otherwise sell our home. Our main goal is to pay off our home on or before my retirement date. 

HOME VALUE:

It's official! According to Zillow, our home is currently worth $1,118,400 ($103,392 in the last 30-days). Wow!! Yes, that is not a typo, our home value went up almost $100K this past month. Not sure if everyone else is seeing the same but the housing market is out of control here in southern California. As mentioned in our post back in May, a nearby home in our community sold for an unexpected $1.4 million dollars! We can't believe the home sold for as much as it did! More importantly, we can't believe that we now "almost" own a home that is worth over $1 million! 

Mortgage Balance (As of July 1st):
$181,617 (down $2,234 from our June post)

Percentage Owed:
16.2% (down 0.9% since our June post)

Home Equity: 
$936,783 (up $56,934 from our June post)
   

Mortgage Background:
For those that have not read the Preface on our home equity, we currently hold a 15-year fixed-rate mortgage at an awesome rate of 2.875%.  My goal is to retire within 5 years and 11 months (71 months) so we are setting out to pay off our mortgage on or before my retirement date. Right now we are a few months behind the target retirement date. Currently, we have approximately 6 years and 7 months (79 months) left on our mortgage. Nevertheless, I would like to have it paid off in roughly 5 years. If we accomplish that, I plan to use the money we use to pay our mortgage and aggressively build our passive income to help supplement our retirement and defer tapping into the 457K for as long as possible so it can continue to grow. 

Right now we are not putting any extra money towards the principal given our low 2.875% interest rate. We feel that we could make our money grow faster by investing it and while keeping the money more liquid. At a certain point, we may consider using some of the money from our investment accounts to wipe out the remaining mortgage balance.  Until then, we will continue to grow that money outside, rather than have it locked into our home.

Mortgage Balance (UPDATE) - June 2021

         

If you have viewed our family's Net Worth Page, you probably already know that it does not include equity in our home.  Although we do realize that it is technically part of our overall net worth, we decided that since our home equity is not an asset that we can count on for income (unless we sell and buy something cheaper) we would exclude it from our net worth calculation.

For the purpose of this blog, we are more interested in documenting our loan balance rather than our home equity.  With that said, we will use the current Zillow value as our estimated home value and use it to figure out the percentage we owe on our home. For those interested, we will include the amount of our home equity but know that we are less concerned with the equity since we have no plans to cash out or otherwise sell our home. Our main goal is to pay off our home on or before my retirement date. 

HOME VALUE:

It's official! According to Zillow, our home is currently worth $1,063,700 ($97,628 in the last 30-days). Wow!! Yes, that is not a typo, our home value went up almost $100K this past month. Not sure if everyone else is seeing the same but the housing market is out of control here in southern California. As mentioned in our post last month, we had heard from a neighbor that a nearby home in our community sold for an unexpected $1.4 million dollars! We can't believe the home sold for as much as it did! More importantly, we can't believe that we now "almost" own a home that is worth over $1 million! 

Mortgage Balance (As of June 1st):
$183,851 (down $2,279 from our May post)

Percentage Owed:
17.3% (down 2.2% since our May post)

Home Equity: 
$879,849 (up $113,855 from our May post)
   

Mortgage Background:
For those that have not read the Preface on our home equity, we currently hold a 15-year fixed-rate mortgage at an awesome rate of 2.875%.  My goal is to retire within 6 years and 0 months (72 months) so we are setting out to pay off our mortgage on or before my retirement date. Right now we are a few months behind the target retirement date. Currently, we have approximately 6 years and 8 months (80 months) left on our mortgage. Nevertheless, I would like to have it paid off in roughly 5 years. If we accomplish that, I plan to use the money we use to pay our mortgage and aggressively build our passive income to help supplement our retirement and defer tapping into the 457K for as long as possible so it can continue to grow. 

Right now we are not putting any extra money towards the principal given our low 2.875% interest rate. We feel that we could make our money grow faster by investing it and while keeping the money more liquid. At a certain point, we may consider using some of the money from our investment accounts to wipe out the remaining mortgage balance.  Until then, we will continue to grow that money outside, rather than have it locked into our home.