3 Key Factors to Consider Before Paying Your Mortgage Off in Retirement

Connor plans to retire soon and wonders if he should pay off his mortgage of $300,000 or invest those funds, especially since he has a low interest rate. James gives a detailed response and reveals why there is no one-size-fits-all answer. When it comes to having a mortgage in retirement, math and spreadsheets can help with part of the question, but emotions and personal values should be considered too. Questions answered: Should you pay off your mortgage as you head into retirement, especially if you secured a low interest rate mortgage in recent years? How should you weigh the financial benefits of investing available funds versus the emotional peace of mind of being debt-free in retirement? Timestamps: 0:00 - Connor’s question 1:36 - An example scenario 4:51 - Interest rates 6:22 - Tax considerations 9:13 - Tax-adjusted mortgage interest rate 12:13 - Sequence of returns 15:27 - Peace of mind 17:07 - Conclusion Create Your Custom Strategy ⬇️ Get Started Here. Join the new Root Collective HERE!