Retirement is a significant transition, often representing a major financial shift in a person’s life. Having as few expenses as possible is typically ideal, ensuring that any retirement funds can last through the remainder of a person’s life. By paying off debts, your monthly obligations can be lowered. If you are wondering whether your mortgage is one of the debts you should tackle, here are five reasons to pay off your home loan before you retire.
Tamila McDonald has worked as a Financial Advisor for the military for past 13 years. She has taught Personal Financial classes on every subject from credit, to life insurance, as well as all other aspects of financial management. Mrs. McDonald is an AFCPE Accredited Financial Counselor and has helped her clients to meet their short-term and long-term financial goals.