Owning a home is often a part of the American Dream. Often, that refers to owning a home outright, not having to make mortgage payments. But according to Forbes, 38% of U.S. homeowners age 65 and up have a monthly mortgage payment. Today, Amy and Jag break down when paying off your mortgage can lead to a successful retirement - once you decide what "success" means, of course.
When does paying off your mortgage help with a successful retirement?
When can it hurt your retirement?
When does it make sense to pay off a mortgage?
What variable should be considered when thinking about paying off a mortgage?
Finally, what about paying off the mortgage early?
For more information on how this affects your individual financial situation, or anything related to your financial future, reach out to Amy Walls and her team at Thimbleberry Financial.