SHOULD I HAVE A MORTAGAGE IN RETIREMENT?
Planning the details of your retirement and considering the pros and cons of paying off your mortgage? Here are some considerations to think about.
- You value the security and peace-of-mind of having your house paid off.
- You are paying a higher mortgage rate than your money is earning…your mortgage is at 5% and your savings are earning 3% in a CD.
- You are in a lower tax bracket and you have only a few years left on your mortgage payments.
- You are planning to downsize or move to another less expensive area.
Retirement planning needs to begin long before your last day of work. Call Brooks Financial Planning for a real time review of your specific situation. We can help you evaluate the pros and cons of this important decision.
