Boomers: Should you pay off your house before you retire?
Good question. You are getting ready to retire in a few years. You have a fairly nice house, accompanied by a fairly large mortgage. Should you pay it off?
For: Paying it off will give you more money to spend in retirement. You will have money sitting around and available if you sell your house, which you’ll probably do eventually anyway. And houses traditionally increase in value over the long term, so you will receive more than if you had put the money in the market.
Against: Housing prices are going down. Who knows …read more