Ask Terry Questions Personal financial advice

Personal financial advice

By Terry Savage on January 23, 2025 |

Hi Terry,
We are both 65 and retired. We have about 2.2 million dollars in investments ( about 60,000 in a Roth, 1.3 in IRA $ the remainder in cash investments). We have a balance of $ 239,000 on a 30 year mortgage at 6.75%. House is valued at around $900.000. Should we pay off the mortgage and if so, where should we take the money from (Roth, Ira, etc.). Thank you,

Terry Says

There’s a lot more to this decision. Yes, 6.755 is a high mortgage rate — well, higher than you can get in CDs. But this is really part of your overall financial and retirement income planning.

You can get a specific answer to your question if you want to do the work of inputting all the above data, and more, at www.MaxifiPlanner.com.
Or you can get advice from a fee only FIDUCIARY financial planner who is not trying to sell you anything, by following this link to Wealthramp.

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