Thursday, January 21, 2010

Do I need to pay off my mortgage before I retire?

There was time when people used to retire Debt free or mortgage free. But now time has changed more and more people are retiring paying their monthly home loan bills. It may be the effect of recent recession, whatever be the reason everyone is suffering more or less from this burden and lost their peace of mind. People are curious to know if they should pay of their mortgage before retirement. Should I pay of the house? Should I use that extra money for an Ira or 401(k)? Or if they should cut back on their retirement savings? It is always a tough decision to make. It’s not all about paying off. Its a combination of Investment, peace of mind also achieving piece of mind with a piece of action. Let’s hear it from Paul Merriman:-

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