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065 Should You Close Your Mortgage After You Pay It Off
You have finally paid off your mortgage. There is just a small balance left. Now the question is, do you close it or keep it open?
In this episode, Nathan and Jordan unpack the emotional and financial sides of this common dilemma. They explore redraw facilities, offset accounts, retirement considerations, helping adult children, medical emergencies and how banks frame the decision.
The real issue is not just whether you can keep the mortgage open. It is whether you should, and what your plan would be if you ever redrew the money.
If you are approaching retirement or celebrating becoming debt free, this episode will help you think it through clearly and confidently.
Visit www.weavinggoldpodcast.com for more episodes, blogs and to get in touch.
Nathan:
www.nathanfradley.com.au
Jordan:
www.planningsolo.com.au
The information contained in this podcast is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.
Jordan and Nathan are both authorised representatives of PlanningSolo Licensing, AFS Licence 526143.
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By Nathan Fradley, Jordan VakaYou have finally paid off your mortgage. There is just a small balance left. Now the question is, do you close it or keep it open?
In this episode, Nathan and Jordan unpack the emotional and financial sides of this common dilemma. They explore redraw facilities, offset accounts, retirement considerations, helping adult children, medical emergencies and how banks frame the decision.
The real issue is not just whether you can keep the mortgage open. It is whether you should, and what your plan would be if you ever redrew the money.
If you are approaching retirement or celebrating becoming debt free, this episode will help you think it through clearly and confidently.
Visit www.weavinggoldpodcast.com for more episodes, blogs and to get in touch.
Nathan:
www.nathanfradley.com.au
Jordan:
www.planningsolo.com.au
The information contained in this podcast is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.
Jordan and Nathan are both authorised representatives of PlanningSolo Licensing, AFS Licence 526143.