ST. CROIX INSIGHTS
Don’t Retire with a Mortgage.
BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC
Photo by Tierra Mallorca
This lesson is a short one, but that’s because it’s simple: Don’t retire with a mortgage.
Other financial advisors might disagree with me on this. They might tell you about the great interest rates, they might highlight the tax deduction benefits, yada, yada . . . but they’d be wrong.
As far as I’m concerned, the question of whether or not to retire until your home is paid off boils down to one simple fact: debt sucks! Why deal with the burden of a major monthly payment when you’re on a limited income?
I don’t care about the interest rate, the tax deduction, or any of the other “benefits” you’ll hear about; it’s just noise. Take my advice and don’t retire with a mortgage—period. Your future self will thank me for it.
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