Unfortunately that balance is worth less than half as much in purchasing power as it had 27 years ago. Nevertheless making the $400 payment is the better thing for most even if it's paid into a savings plan that can generate a larger income. My brother has $15k in his garage sale pocket, he works 4/10's spends 3hrs Fridays and 2hrs Saturdays buying. Afternoons finds homes for purchases while keeping really good stuff. In bad year only triples his $15k. He will be 75 in October and plans on keeping his 4/10's job he has had since early 70's. (He is drawing his retirement since he turned 65 but still contributing the limit with company matching which increases his monthly check annually). He loves his lifestyle and has no desire to change it just to spend what he doesn't need. He generally only buys a new vehicle every 12-15 years and lives in home our grandfather built in early 1930's(?).
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