conversation: User (my_personal_finance): "* Wife and I are both early 50. USA \n* She makes 60k\n* I make 180k. But this has been a rapid rise in last 12 years.   We went from about  120k combined to 240k in 12 years   And our jobs are not secure. \n* All college for kids is paid and done\n* Retirement accounts at 350k. End.  Didn't start till this last 12 years.  Wife is just starting now \n* I've been maxing out.\n* Mortgage is 170k.  We did buy our dream house in this timeframe.  We have 25 years left. \n* Savings is 120k. But with current salary and only debt being mortgage, even living our version of fancy life we have 10s of thousands left over to grow going forward. \n\nSo the twist is job security.  \n\nWife's company has clear signs of financial problems.  Layoffs. Vendor credit hold.\nI am paid well for an industry specific talent that doesn't transfer to other local companies.  New management is giving strong messages about my role and salary.  If I had to leave I'm looking at 120k\n\nAll that being said there are many that would want our situation. But I fear by the end of the year we are back down to 120k a year\n\nSo... finally the question\nI'd like to take 60k of savings, refinance the mortgage down to 120k at 15 years.   Gets the house paid off before retirement and reduces payment.  I consider it part of our "rainy day planing" while income is high. \n\nOnce I right-size my mortgage I can dump tons into retirement.  Including maximizing 401k for both of us. \n\nThoughts? \n\n\nEDIT:  Formatting"
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