Retirees and Mortgages – Will it Work?
Friday, January 2nd, 2009
photo credit: pedrosimoes7
There are more and more people reaching retirement with mortgages. In fact, many people are acquiring mortgages in retirement. Is it a good idea?
First of all, most financial advisors will tell you that you shouldn’t carry a mortgage into retirement. That is because most retirees are cutting back on what they are living on, income-wise. Personally, I don’t want to carry a mortgage into retirement because I want that extra money for myself. I also strive for the clear ownership of my property. But you have to look at what fits you. (more…)