Not every homeowner should pay down their mortgage early. In a story in the January edition of Kiplinger’s Personal Finance Magazine, Seth Feigerman quoted Rick as saying “Anyone under 40 should be funding a retirement plan, and anyone over 50 should be concentrating on paying off the house.” However, if you’re close to retirement and paying off the mortgage would mean raiding too much of your savings, it may not be a good idea.
For more great tips on paying off or refinancing your mortgage, read the entire story here.
