W3Schools

NerdWallet: Will a mortgage be a dark cloud over your retirement?

This article is reprinted by permission from NerdWallet.

Most people would be better off not having mortgages in retirement. Relatively few will get any tax benefit from this debt, and the payments can get more difficult to manage on fixed incomes.

But retiring a mortgage before you retire isn’t always possible. Financial planners recommend creating a Plan B to ensure you don’t wind up house rich and cash poor.

Why a mortgage-free retirement is usually best

Mortgage interest is technically tax deductible, but taxpayers must itemize to get the break — and fewer will, now that Congress has nearly doubled the standard deduction.

>>> Original Source <<<

Comentários