Should Retirees Pay Off Their Mortgages? It Depends, Wade Pfau, Others Say

Expert opinions differ on whether retirees should pay off their mortgages before retirement. Some advisors argue that eliminating mortgage debt can provide financial security and reduce monthly expenses, while others caution that it might not be the best financial decision. “One item that trips people up once they have paid off their mortgage is not adequately planning for paying their homeowner's insurance and taxes,” said CFP Board Ambassador Jamie Bosse, CFP®.

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