5 Reasons To Pay Off Your Mortgage Before Retiring

July 12, 2012

in Tips

5 Reasons To Pay Off Your Mortgage Before Retiring

Many people used to consider a mortgage burning party to be part of the American dream. But things have changed because of the record low mortgage rates in recent years. You may be tempted to plan on prolonging the note for as long as possible – even well into your retirement years – while you try to eke out a higher investment return. But before you decide to stick with minimum payments, consider the following benefits of having no mortgage payments in retirement. Having no mortgage gives you peace of mind. Once you eliminate your mortgage, you don’t need to worry about the additional cash flow that would be necessary to pay that monthly bill. You also don’t need to agonize about whether your investments are outperforming the interest you are paying. Owning your house free and clear reduces a huge amount of stress, which is what retirement is all about. [Read this article]

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