MORTGAGES AT RETIREMENT

Terry:

I plan on retiring in 6 years and think that I should pay off my mortgage, but my husband thinks that we shouldn’t because of the tax write off. I say the value of the write off is not worth it. I’d rather not have that monthly expense.

Your opinion?

Thank You!

Terry Says: I think it’s a terrific goal to pay off your mortgage before retiring.  At that point you will have less income, and less need of the tax write-off.  And if you want to do it sooner, great!  It’s a wonderful feeling to be mortgage-free (I know!).