Reported 6 months ago
The MarketWatch reader, who is 57 and single, with $630,000 in retirement savings and a 3.75% mortgage, seeks advice on whether to focus on paying off the mortgage or consider transferring savings to a high-yield savings account or an ETF like SCHD to earn dividends. The columnist suggests diversifying investments, maintaining an emergency fund, and categorizing savings by short-, mid-, and long-term goals. Regarding the mortgage, if financially feasible, it may be more beneficial to continue paying it off gradually in retirement to retain more savings for post-retirement expenses.
Source: YAHOO