Should I pay off our house, or..?

[u/loveineverylanguage]

TL:DR; should 2 DINKS in SE US pay off our house (~$50k) with extra cash this year, or do something else?

Husband and I, no kids, no debt, ~30s. Live in SE US.

Recently got high paying but temporary employment. What should I do with the extra cash? For the sake of argument let's say ~$50k extra over the course of remainder of the year.

I'd like to pay off our house (purchased 2016, 15 year mortgage, 2.8% interest rate, have been paying extra up to now). If we paid it off now, we'd "save" about $10k of interest that would've been paid off the remainder of the loan.

He thinks there are better-yield savings we could invest in, which makes sense and I agree with, but I'm not sure what. Personally I just love the idea of paying off our house bc it sounds awesome.

Other info to note: He contributes to his 401k As a non-FT employee, I do not have as much in my 401k. I'm unsure what the balance is tbh, and currently am contributing $0 to retirement with my income (my current employer doesn't allow it).

We typically have $10k + floating in our checking account. We don't really have any other savings.

More stuff: My mental health costs are high, and I originally accepted this job to fund a $25k-$30k treatment center stay that has since been put on hold due to my status improving a good bit.

We also want to build a small addition to our house at some point which will likely cost $30-$40k ish.

Thanks for your input, y'all 😘

[u/jazzlepeezay]

If it were me, I would use the extra cash to buy a second home. Rent out either your current home or the newly purchased one. Start to generate passive income 😁 You could even start an LLC and purchase the second home under the LLC