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Unfortunately, many people fail to take into consideration their mortgage, which is usually their largest expenditure.
Failing to factor in your mortgage can create a challenging situation once your income is reduced after retiring.
Keep reading to learn your retirement with your house payment in mind.
… [And] investing the funds in a diversified portfolio should provide greater returns over the long-term.
Tax Considerations
Maintaining your mortgage after you retire could also help offset some of your tax burdens.
… Interest on mortgages is tax-deductible, noted Stroup.
This helps reduce the costs associated with this kind of debt while increasing the returns on your portfolio investments.
Failing to account for it can leave you with an unwelcome surprise once you retire.
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