<prompt> Human: My wife 35F and I 35M are unexpectedly sitting on potentially 600-800K in home equity. We got here by doing something Im sure this sub would not have supported - we took on a lot of debt and risk about eight years ago and bought way more house than we could afford. We took out two mortgages, and loans from both our parents, to buy and renovate a 560K condo in late 2008. But after several years of aggressively paying off everything but the primary mortgage, then a re-financing, were in a pretty good spot now. The remaining debt is 422K, on a 30-yr fixed at 4, with 27 years left. Mortgage taxes condo fees are about 3K, which we are easily able to handle.Similar units in our neighborhood a very desirable spot just outside of Boston, in a great school district, are now going for 1-1.4M. Even conservatively I would say were sitting on 500K in home equity. We have no plans on moving in the next 14 years while our kids are in public school.So how would this influence your overall financial planning? For instance, my wife and I have discussed how we could stop saving for college completely. We have about 50K in college savings two girls, 4 and 9, but that plus, say, 13 of the home equity would, to me, fulfill our parental obligations for the kids college cost. Once our youngest graduates high school, we could sell our place, buy a small place in a neighborhood farther outside the city with crappy public schools maybe even in cash from the equity, and not pay a mortgage ever again.Or, weve also talked about how we might want to loosen the pursestrings a bit. Im fairly frugal, so we dont eat out much, dont travel much, etc. My wife definitely feels like we could be living it up a bit more given the nest egg were living in. For instance, my wifes cousin is getting married in Paris this summer, and we declined due to the cost. Maybe we need to start enjoying things a bit more, as we certainly could afford a trip like that and it would be amazing for the kids if I werent so insistent on maxing out retirement contributions and putting away money for college.Anyway, Im curious how others might treat this situation.  <response>: Whats the point? You would go ahead and do your own thing anyway...Just like u did 8 yrs ago :D 