Retirement
SHOULD I PAY OFF MY MORTGAGE
This is a question we get asked regularly. "I have just inherited some money" or"I have a lump sum from my pension" or "an investment has just matured"
Individual circumstances should of course be considered but in most situations the answer is yes. Pay off all other debts first, as they are likely to be more expensive, and then your mortgage.
The money you save each month could be invested to provide you with a financial cushion or a better retirement income.
Also:
- Will my current savings and pensions be enough
- How can I improve the situation
- Do I have to move to a smaller house
- Should I pay off my mortgage
- How will I cope with the cost of care if I become frail
