Oct 10 2024 28 mins 1
Are you nearing retirement and wondering if you should pay off your mortgage first? Is downsizing or relocating a good idea upon retirement?
Nick Russell and Becky Wagoner discuss the mortgage question in retirement. They explore whether it's a good idea to pay off a mortgage before retirement and the factors to consider when making this decision. They also discuss downsizing and relocating in retirement and the financial implications of these choices.
Nick and Becky discuss:
- Is paying off a mortgage before retirement always the best choice, especially when the interest rate is low?
- What financial implications, like property taxes, insurance, and maintenance costs, should be considered when downsizing or relocating in retirement?
- How can a mortgage calculator help estimate monthly payments and guide housing decisions?
- Why is consulting with a financial advisor essential when making decisions about mortgages, downsizing, and relocating in retirement?
- And more
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