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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!
4.9
743743 ratings
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!
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