Wouldn't it be great to pay off that mortgage before you retire? But that might not be your best
financial
move.
Jane Clark, from Kiplinger's Personal Finance, gave us some steps to consider first, including paying off our consumer debt (see the list below).
"You're probably paying a lot more for your consumer debt on
your credit
cards than you would be on your mortgage. Mortgage rates are probably below 5% now and so you could be paying 13%, 14%, 15% on your credit card balance. It doesn't make sense to keep that debt and pay off your mortgage," said Clark.
Thinking About Paying Off Your Mortgage Before Retirement? Consider This First | wusa9.com
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