Best Path to Take for Financial Freedom?

[Scott H.]

I will be 52 next year. I have been consumed with setting myself up correctly for retirement (hopefully before 67). We currently own a home that we paid $269K several years ago. It is now roughly worth $340K. We have a 30 year fixed mortgage. Reading many books on early retirement, they mostly talk about saving a great amount of your salary (60% or more). I have thought about selling the house and downsizing into something in the $100-$150K range to give me more money to invest/save elsewhere. I have also thought about refinancing into a 15-year mortgage so we would be paying more toward principal each month, thus "saving" more in our home if we stayed in it for maybe five more years instead of moving into something less expensive. 

What are your thoughts/advice? I sometimes feel like a rudderless ship not know how to get to my desired outcome.

[Jay Hinrichs]

you can always pay your current mortgage down without the expense of refinancing just send in principal pay downs every month.. my habit has always been to do this.  lets say my mortgage was 1500 a month.. I would set up my auto pay at 2000.. you be surprised how quickly this knocks down your principal and saves interest over the long term

also if you think your house could go up some more keep in mind the tax free 500k for married couple is extremely valuable at retirement age.