$90k is absolutely life changing for most people. That’s a down payment on a house plus moving costs and upgrading appliances and furniture. That’s the difference between poverty and living comfortably. If that’s not life changing for you, then I’m not sure you’re familiar with the struggle, in which case I strangely both pity you and envy you.
Sure you’re not gonna buy a mansion with $90k, but you could go from renting a shithole apartment in a shithole town to owning a home in a decent area with access to better employment to sustain a much higher quality of life. $90k is a ticket to escaping geographical and financial shackles.
Slow your roll buddy. I didn’t say it’s meaningless to everyone, only that it wouldn’t change my life.
To your example, I already own a house but $93k won’t pay off my mortgage, or let me retire early, or cover my kids’ college costs.
Paying that large of a chunk of a mortgage would absolutely reduce your future interest costs though.
Prepaying a mortgage is almost always a worse investment than anything else because mortgage interest is tax deductible.
That’s huge amounts of money in most parts of the world. Westerners don’t realise just how much more their currency is worth.
