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color of money chat q: is it okay to pay off their mortgage in full?

Posted by gerald (aka chris) Aug 11 '16, 12:40

Q: Please tell me it's ok to pay off my mortgage

Hi, Michelle. I'm 55, single, no kids, no debt other than the mortgage. A financial goal this year was to pay it off (less than $23,000). I have just under $500,000 in retirement and savings (includes life happens and emergency). My job of about a year is ok, but there's been some turmoil among the top leaders (company financially sound) and it makes me nervous. I think I should still pay off the mortgage but wake up at night wondering about job security, new tires needed, probably new AC after this summer, and some dental work looming. But what if I have to look for a new job in a year? What if I take a vacation and come back to no job? I do want to get rid of the mortgage and I'm afraid to spend. Your thoughts? Thank you for all you do.

Responses:

Depends on the interest rate. -- (edited) - znufrii, dad. Aug 11, 12:47 1
- this -- nm - Beaker Aug 11, 12:47

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color of money chat q: is it okay to pay off their mortgage in full?

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