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YMMV. The last thing I did before retiring was to refinance the mortgage back out to 30 years. Lower payments certainly helped the cash-flow, as did resetting the deductible home mortgage interest schedule. For many people, the mortgage is the cheapest debt they will ever have. Why be in a rush to get rid of a bargain?
The point of course is that people and their situations are all different. One size does not necessarily fit all.
it only pays to keep the mortgage if the person has the discipline ,knowledge and pucker factor to invest elsewhere .
the reality is most do not . way to many have good intentions but exhibit bad investor behavior and end up behind the curve shelling out more to keep the mortgage than they benefit from it ..
YMMV. The last thing I did before retiring was to refinance the mortgage back out to 30 years. Lower payments certainly helped the cash-flow, as did resetting the deductible home mortgage interest schedule. For many people, the mortgage is the cheapest debt they will ever have. Why be in a rush to get rid of a bargain?
The point of course is that people and their situations are all different. One size does not necessarily fit all.
Saying every situation is different in finance is the equivalent of saying that water is wet. While sure, it may improve cash flow and it also may free up funds to generate higher returns elsewhere....I still think it would be rare to be a good idea.
The mortgage may be cheap as far as the interest rate but it's on a much larger base. Debt payments are creeping up to $300,000 over a lifetime for the average American, and I'm sure the majority of that is on a mortgage. Bargain? On another mortgage? I'm not so sure.
I don’t understand why people stay in the US when they retire. It is expensive. The day I hit 55 I’m selling it all and. I am outa here. Off to Central America or another affordable and beautiful place where breakfast costs a buck, beer is .75 cents at a bar and you can buy a castle on the beach for $80k.
why ? because our kids ,our family ,friends ,and grand kids are here .how is that for a reason ? priceless!
not only would i NEVER think of retiring outside the country , we will not move to far out of the area they are all in . we can't stop them from ever leaving but it is not something we would do .
I don’t understand why people stay in the US when they retire. It is expensive. The day I hit 55 I’m selling it all and. I am outa here. Off to Central America or another affordable and beautiful place where breakfast costs a buck, beer is .75 cents at a bar and you can buy a castle on the beach for $80k.
People who stick around in the US are suckers.
Maybe people's reason are more than financial? They could have family? Friends? Memories? Don't want to move into a totally new culture? Don't want to be somewhere with different language? Need access to high quality medical care?
I worked with computers and robotics. Even so I did not see age discrimination.
Sure there were a lot of young people in the field. I also worked for people often considerably younger than me. So what? It should be the ability of the individual and not their age that is the main consideration for employment. In IT or engineering or any other high tech field, it is common to see older employees fall behind. New grads often have studied and been exposed to the newest in technology. The older worker may think they are keeping up but often are only up to date on the technology in their immediate field. The younger worker often has broader knowledge that is useful for adapting and implementing changing technology. I do not see this as age discrimination. I do not see this as an issue that the employer has created. It is the employees responsibility to maintain and grow their skills and knowledge.
My employers often helped at least to a minimal extent by contributing time off and some expenses towards conventions, seminars and workshops. I saw a lot of employees take advantage of that and have a good time at conventions when they should have been learning. I was also able to spend some of my work time keeping up with my field. In addition I spent a great deal of energy and my own time.
I think age discrimination is a minimal issue. Sex discrimination is not. Being a male, I have not suffered but I have seen it all my life. Women, especially in the tech fields, have a rough time.
I don’t understand why people stay in the US when they retire. It is expensive. The day I hit 55 I’m selling it all and. I am outa here. Off to Central America or another affordable and beautiful place where breakfast costs a buck, beer is .75 cents at a bar and you can buy a castle on the beach for $80k.
People who stick around in the US are suckers.
lol,
Well I've been called worst by way better people than you so I'm good with it.
And if I were to retire outside of the US the next to last place I'd go is Central America.
Honduras? really
Nicaragua? Oh hell no
i wouldn't even vacation in those places ,forget about living there . i would rather keep working than resort to those choices .
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