• Question
  • DEBT

    Asked by someone from Frederick, MD on 10/21/2015

    Is it better to eliminate a Mortgage prior to retirement?

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  • Categories: Paying Off Debt, Retirement Planning

Answers

  • Steve 

    Steve 
    NewRetirement

    San Francisco, CA

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  • Many people think it's smart to pay off your mortgage before you retire since it lowers your expenses and if your income may be lower in retirement the tax benefit of deducting interest won't be as helpful.

    You can read more about this here: '

    http://www.newretirement.com/answers/bud-hebeler/paying-off-a-mortgage-early.aspx

    http://www.newretirement.com/blog/2014/08/29/should-i-pay-off-my-mortgage-or-invest-for-retirement/

  • Login to rate this answer:   Answered on 11/1/2015
**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.