Pay off mortgage or invest?
We have a mortgage of $43,000 at 4.5% interest. Final payment is 11/1/2024. We have $50,000, should we pay off the mortgage or try to find a safe investment. I’m turning 72 in August and my wife is still working. Thanks for your help.
Terry Says
Well, I see you posted this question last week (I’m still catching up) and after the stock market action of the past two days, I think you may have changed your tune!! Stocks do not = safe!! Especially at your stage of life.
Now, I’m sure you can find plenty of salespeople to sell you some stocks or mutual funds and give you lots of reasons why you should own them. And you probably should own “some” exposure to the market.
But I can’t give you advice without knowing more about your entire financial picture. That’s why this is the perfect time to find a financial planner you can trust. To do that, go to www.Wealthramp.com — where you will be individually matched to a planner who will not take commissions and promises to put your interests first. That is, you can trust them. No one will call; there is no obligation. Use the link above, or go back to my website and see the “find a financial planner” box on the top right corner of the home page. You will see how the service works.
I get NOTHING out of this — but the knowledge that you will be matched with a very competent, trustworthy planner.
