I Paid Off My Mortgage. Just Kidding.
If you own your own home, do you expect to pay off your mortgage one day? No? Well, you’re in good company.
According to a story on L.A.Times.com, “For people nearing retirement, paying off the loan was once viewed as a rite of passage that freed up cash each month and strengthened a household’s ability to handle the unpredictable costs of old age….But increasingly, it is a milestone that people do not expect to reach.”
In fact, a new AARP national survey found that among workers 55 and older with mortgages, about half doubted that they could pay them off before they retired.
Thank you to Queercents for bringing this important finding to our attention.
