My parents are newly retired (73, 70) and are generally secure enough in their finances to be comfortable. However, due to some borrowing they refinanced their mortgage after a history of equity loans. They now have a 15 yr mortgage at 3%. They're actually fine with cash flow for retirement even with the mortgage payments. Normally I'd try to convince them to just get rid of the mortgage, but at 3%, it seems like the funds frankly would be better off in their accounts then paying off the mortgage. And they would still get the interest deduction.
Any issues that we're not thinking about?
Submitted January 21, 2017 at 10:09PM by mingl http://ift.tt/2jLNVAb
