Ask Terry Questions Mortgage Pay Off

Mortgage Pay Off

By Terry Savage on August 12, 2024 | Financial Planning / Retirement

My husband’s company was sold and the stock he had invested has been paid out. He received a very large sum of money that will take care of us through retirement. Should we pay off our mortgage (3.75 interest rate) or invest the money and continue to pay off our house monthly? Thanks for your help. I love listening to you on WGN radio!

Terry Says

I hate to see you give up such a low rate mortgage. And I don’t know your stage of life or other investments. It strikes me this would be a good time to discuss your plans with a trusted, fee-only FIDUCIARY financial advisor, which you can find at Wealthramp.com.

In the meantime, stick it safely in T-bills. Read this:

money

ASK TERRY

a personal
finance question