Ideally, retirement savers should have a clean financial slate before they transition into retirement, which means minimizing (or eliminating) credit card debt and paying off any outstanding loans. But what about mortgage payments?
Many savers push to pay off their mortgage before they reach retirement age in order to reduce their monthly expenses once they are done working. Depending on your unique financial picture, however, paying off a mortgage might not offer as much of a benefit as you think—and in some cases it can even negatively impact your retirement strategy.
Click here to read the article.
This communication is for informational purposes only. No content or reference to a third-party article is intended to be a recommendation for the sale or investment in any product, strategy or service nor should it be perceived as individual advice. This commentary does not necessarily reflect the opinions of all employees or XML Financial Group and its affiliates (“XML”). XML is not responsible for any actions taken related to this information.