- June 25, 2021
- Posted by: Stratford Team
- Category: Business
If you have a personal finance goal to retire early, you may be wondering how your mortgage might affect this. Learn more about paying off your mortgage before retirement. (iStock)
One in three Americans has made retiring early a financial goal, according to a report from the financial research firm Hearts & Wallets. Early retirement generally refers to becoming financially independent before becoming eligible for Social Security. The FIRE movement, which stands for “financial independence, retire early,” is based on the goal that you can save and invest aggressively to speed up the time it takes you to retire.
While investing in retirements can certainly help you with financial planning, getting rid of debts like your mortgage before you retire can also free up a ton of money. Plus, you won’t have to think about making a sizable mortgage payment each month during your retired years. Luckily, you don’t have to choose between retiring early…