Retirement And A Mortgage
The article below states to not carry a mortgage into retirement. It certainly has some good points but always make sure to contact your financial advisor because everyone has a different financial situation.
“It’s better to pay down your mortgage than to carry it into retirement. Or at least it is if you have the money set aside in a taxable or tax-deferred account. The reasons are several but boil down to this: In the current environment, your mortgage provides a better return on your money than other risk-free assets. “It is unlikely that many retired households will be able to earn a return on risk-free investments, such as bank certificates of deposit, Treasury bills, and Treasury bonds, that will exceed the cost of their mortgage,” says Anthony Webb in the CRR report, published on Tuesday.”