Down-sized and debt-free: can you retire with a mortgage?
Financial experts suggest that retiring with a mortgage is not necessarily detrimental. While many Australians aim to be debt-free upon retirement, there are important financial and lifestyle considerations to weigh. Understanding the trade-offs between debt management and retirement savings is crucial for making informed decisions.
- ▪Many people believe it's best to retire without debt, but experts argue this isn't the only approach.
- ▪Accessing superannuation to pay off a mortgage can impact long-term retirement savings due to lost compounding returns.
- ▪It's important to consider financial, emotional, and flexibility factors when deciding on debt management in retirement.
Sydney Morning Herald publishes from Australia and files mainly under world. We currently carry 3,194 of its stories.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.