It’s been an age old question. You’re facing retirement and are trying to decide whether it is wise to pay off your home mortgage or not. Maybe you have a bias because you witnessed your parents’ mortgage burning ceremony and are wondering if that still makes sense nowadays.
As a general rule, I believe that living a retired life without a mortgage is a worthwhile goal; however, there is no one fits all solution as circumstances vary widely for each individual. Forbes had an article called “Burdening Your Retirement with a Mortgage,” which outlines many of the pros and cons. Some of them might give you the answer you’ve been looking for or at least make you look at your own situation from a different angle to clarify your thinking.
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