QUESTION DETAIL
Related User
Votes
Where is the best place to put extra money for retirement after you max out your 401k and IRA?
ANSWER
The BIDaWIZ Team's Answer:
The best use of any remaining discretionary income is to "pay down"
your residential mortgage. The extra payments will be applied
to principal, and this constitutes a tax free investment, because
when you sell the personal residence, the first $250K of gain
is tax exempt [$500K if married filing jointly]. See IRC 121(b). Paying
off your home mortgage is the first step towards financial prosperity.

