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.
Opening excerpt (first ~120 words) tap to expand
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.