Dear Quentin, I’m 49, I live in a major metropolitan area and I have a $540,000 mortgage. I put 20% down when I purchased it several years ago. I earn six figures ($185,000 a year, excluding bonuses). I do not carry credit-card debt month-to-month, but I do rack up charges of about $1,500 or more every month. I am a single man, and live a relatively quiet life — I go to the cinema and eat out with friends as one of my few social outlets, and have given up going to the theater and concerts due to the expense.
Here’s my problem: I have 25 years left (you read that right) on my mortgage. I will never be able to pay off my mortgage before I retire at 67, and the prospect of working at this level — my job involves travel and is very stressful and, at times, uncertain — for the next 20 years is crippling. …
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