Happiness levels rise undeniably as mortgages vanish. Your retirement years are meant to be happy ones you don’t want to wake up in the middle of the night mid-way through retirement worrying about how you are going to pay the mortgage. When the burden of paying a mortgage is eliminated, you have the budgetary freedom to spend more money on finding purpose and happiness in life. It will dramatically reduce the amount of income that your retirement safety net will need to produce. Paying off your mortgage by the time you retire will bring you peace of mind. Paying off your mortgage takes one big concern off the plate But we do know that not having the stress of a mortgage every month is worth its weight in gold. The answer to that is simple-we don’t know that the market is always going to go up. One of the main recurring themes was that the happiest and most successful retirees had either eliminated or dramatically reduced their mortgage payment before pressing the retirement button.Ī lot of people when faced with the prospect of paying down their mortgage or investing the money would say, ‘Why not put this money in the market and let it make some money instead?’ In my new book You Can Retire Sooner Than You Think – The 5 Money Secrets of the Happiest Retirees, I conducted a study of more than 1,350 retirees across 46 states to see what makes the happiest retirees. There’s a world of happiness and freedom out there just waiting for you once your biggest monthly expense is eliminated. There are a number of psychological and financial burdens that are lifted once that proverbial noose around the neck is loosened. When people ask me whether or not they should pay off their mortgage, my answer is always, unequivocally YES.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |