The New Retirement: Why You Don’t Have to Pay Off Your Mortgage

Paying off your mortgage goes hand in hand with retirement. Most of us have long thought about the peace of mind that will come when we retire and do not owe big debts such as a mortgage. In 1989, just 26% of retired households had mortgages. This number nearly doubled by 2007, and doesn’t look to be slowing down anytime soon. With the average 30-year fixed-rate mortgage at 3.5%, it makes sense for some people to hold off on paying the mortgage and invest in other things. Some things to consider are taxes, tenure, liability, cash flow, and monthly payments. Be sure to evaluate what will benefit you now and in the long run before making a decision. Read the full article here: http://business.time.com/2013/05/28/the-new-retirement-why-you-dont-have-to-pay-off-your-mortgage/