You're welcome, yep paying off the mortgage should be a primary objective. Bonuses etc should go in immediately too which would stave off temptation to spend it.I would advise to keep your mortgage to 10 - 15 years timeframe and if anything were to happen least the roof over your head is secure.
With regard to taxi drivers don't be too quick to judge, driving a cab is a noble profession and in fact many down on their luck professionals do it. When life gives you lemons make lemonade as they say. There are also drivers who are retirees who just like to chat with many people and share their life stories (no different from the millionaires and billionaires who want to do the same). I know a guy who lives in a 10 M house and drives a taxi too so there are no one size fits all. Lets respect the taxi drivers and if we (touch wood) join their ranks we would want that respect too, if my seniors or peers snigger in my cab I would gladly drop them in the middle of the PIE and leave with a smile on my face.
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Originally Posted by Unregistered
appreciate the advice, i think paying down our mortgage is the best option. once we finish paying, it will be ours and it becomes an asset. we can then rent it out when we reach 65, by then hdb rental would be at least $6k per month (in 30 years time) and we can retire in malaysia. i don't want to drive a taxi as this is a big insult for a highly educated degree holder. i rather retire in malaysia, thailand or even indonesia than to be seen by my senior executive peers driving a taxi. i will die out of shame. |