• Question
  • Should I pay off my house at retirement age?

    Asked by a 69 year old woman from Edgewater, MD on 9/22/2012

    Should I pay off my house at retirement age?

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  • Categories: Paying Off Debt, Retirement Planning

Answers

  • Editorial 

    Editorial 
    NewRetirement

    San Francisco, CA

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  • Deciding what to do with your mortgage at retirement is not an easy question to answer: taxes, inflation rates, the amount of your savings, your guaranteed retirement income and much more will influence what is best for your household.

    Home equity is the biggest source of wealth for most households. Housing can also be the biggest retirement expense. It is therefore important to consider all of your options carefully.

    You may also want to consult with a Financial Advisor. NewRetirement can arrange a free consultation with an advisor who may be able to help answer your questions about mortgages and retirement:
    --> https://www.newretirement.com/free-retirement-consultation.aspx

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  • Login to rate this answer:   Answered on 9/24/2012
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.