• Question
  • mortgage/retirement

    Asked by someone from Moose Lake, MN on 7/17/2014

    We currently have a 30 year mortgage with about $100,000 outstanding. My husband is semi-retired and I will be retiring in 2018. I have close to my outstanding mortgage amount available in my 401 K. Would it be wise to wait and pay off the mortgage after I retire or should we refinance now and switch to a 15 year mortgage and then pay it off? My current interest rate is 4.25 %. We will not have enough income to pay the house payments after I retire. Would it make any sense to pay off the current mortgage now before I retire? Or would the tax hit be to big to justify this?

  • Categories: Paying Off Debt, Retirement Planning


  • Steve 


    San Francisco, CA

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  • Hi - one of our advisors has done a great write up on this - you can find it here:


    Hope this is helpful.

  • Login to rate this answer:   Answered on 7/19/2014
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