Reported 7 months ago
A 68-year-old retiree with a monthly income of $12,000 seeks advice on whether to use funds from their 401(k) to pay off a low-rate mortgage. Despite having two pensions and Social Security, the retiree is considering becoming debt-free by paying off a $100,000 mortgage on a $600,000 house. The article discusses the implications of this decision, including the impact on future security, considerations on interest rates, tax benefits, and the importance of asset allocation in retirement savings.
Source: YAHOO