Is it worth making lump sum payment on mortgage?
Unless you recast your mortgage, the extra principal payment will reduce your interest expense over the life of the loan, but it won't put extra cash in your pocket every month.
Should I pay off my mortgage with an inheritance?
Pay Off Debt — If you have any debt you're trying to pay off, use part of your inheritance to fast-track your debt snowball. Using part of your inheritance to pay down your mortgage can move you closer to that finish line and save you thousands of dollars in interest.
Is paying off mortgage better than saving?
Since individual circumstances vary widely, there's no one answer as to whether it's better to pay down a mortgage or to save for retirement. In each case, you have to run your own numbers. Overall, however, don't sacrifice the long-term savings goals of your retirement plan by focusing too much on your mortgage.
Related Question Is it better to overpay mortgage monthly or lump sum?
Does paying mortgage early each month save money?
In most cases, you will save no money by making your monthly mortgage payment early. Since mortgage payments are made in arrears, unlike rent payments, there is no benefit by paying early. If you have a simple interest mortgage, such as a home equity line-of-credit, you will save some interest.
Where do you keep large sums of cash?
To store large amounts of cash it's usually best to keep it hidden in a fireproof and waterproof safe that's out of reach. Just avoid keeping all of your cash in one place. Having multiple locations helps protect you against the risk of losing all your money in one event.