Retirement with mortgage loans? Why some keep debt for tax deductions.
As we all know, the one benefit of paying all of that interest on our mortgages is that it generally creates a tax deduction. And if you have been carrying a mortgage for a good portion of your adult life, you have become accustomed to—and plan around—that deduction come tax time each year. In fact, I have listened to multiple clients use the deductibility of interest as a reason for keeping debt, even when they have the means to pay it off and remain financially secure. Are they right? Let’s take a look…Read More