FOX Business – Donna Fuscaldo
Traditionally, financial planners have recommended paying off a home before retirement. But some experts say it can make financial sense to enter your golden years with a mortgage.
“The biggest thing from an analytical perspective is taking a look at what the mortgage is costing you after taxes,” says Jay Messing, senior director of planning at Wells Fargo Private Bank. “If you are able to earn a higher after-tax return on your investments than the mortgage is costing after taxes, then economically, you should keep the mortgage.”
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