thanks for the responses, Tom & Mike. The answer to the questions you raise are: he is 32 years old - I know because I gave birth to him on 2/29/80 - yes a leapyear baby. He is married with a 3 year old and one due in March -- yeah, me!! His wife works as a PTA and makes around $55,000 a year. His wife puts in the max in her 401k with perhaps $20,000 in it. He puts money into his Roth each year and perhaps $20,000 in it. He has some $ in his school public retirement program. He probably can't expect many, if any, benefits from the church other than salary. Probably doesn't need LTC right now - his momma just bought her a policy. he wants to go full-time into ministry and his church is working towards that end, possibly in a year or two. the 200k is the value of the home. he picked it up on a foreclosure for $155,000 and owes $95,000 on it. the 30k is non-taxable - i won't go into details. he believes in david ramsey and being debt free as soon as possible, but also knows of the tax benefits of mortgage interest. he faithfully tithes 10 per cent or more to his church. I have been blessed with a wonderful, intelligent, caring son!!! he beleives in being a good steward of his money and had some hard questions for his mom so that's why the post. Thank you.
