I'm thinking about paying my house off completely off at 44yrs old.

Zero inheritance I had.
My dad bought me a truck when I was 16 and my parents fed and clothed me and I been working since I could walk.
I came from a poor family not silver spoon unfortunately 😂

I owe $106k,600 on my house

Locked interest rate is 3.62 percent

I bought it in 2018

I Divorced and kept the house and our son and I started over

My question is, should I pay it off?
I'm bleeding out $69 a month for mandatory flood insurance until I pay the mortgage off and can drop it. I definitely don't need flood, I'm in the 1 percent zone, it's a racket scam that's cost me 3k cash dealing with FEMA just to get jerked around and denied after I filled to the correct elevation.

I have $71k cash saved up
I'm thinking about putting 60k cash on the mortgage payment and drawing out $45k out of my 401k.

Should I do that y'all?
It will wipe me out but I think the stock market is gonna crash. The money I could lose on the market would basically pay my balance off if I put 60k cash with it.

That will leave me with about $11k cash and maybe a few grand left over in my 401k.

Other than my mortgage I'm completely debt free
My credit score is 765 if I ever need to borrow I'm ok
I have credit cards and don't use them
I have a nice car and truck that I paid off last year
Good little boat
I love my job, make over $31 an hour

I know I will pay penalties but I'm bleeding out $69 for flood insurance til I pay the house off
My interest on the house is $320 a month so I'm losing $390 a month on interest and flood insurance.

I'm a bulldozer operator so I don't get paid when it's too wet to work so I don't make a lot of steady money I should say
if I didn't love it I'd quit but I've been doing it since 2005 basically.

Any advice would be grateful. Thankyou

Last edited by Jakethesnake; 08/11/26 08:52 AM.