Reader Mailbag: “I’m 60 years old. I want to pay off my mortgage of $96,000. I need a plan to do that.”
If paying off your mortgage is your primary goal, my best advice would be to instead focus on lifestyle choices in terms of trying to generate excess cash flow that can be directed toward paying off the mortgage. Said another way, it would likely behoove you to investigate your budget in order to see if there’s some wasteful spending. If there’s fat in your budget, trimming it could result in extra cash flow (that you didn’t have before) that could benefit your goal.
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