Wes Moss featured in Clark.com article on 6 Major Expenses in Retirement (and How To Reduce Them!) Read the excerpted section of the article below.
Paying off your mortgage before you hit retirement is one of the smartest things you can do to keep your living expenses low after you stop working.
It has the added benefit of increasing your happiness, according to research. That’s according to CERTIFIED FINANCIAL PLANNER™ Wes Moss, who interviewed more than 1,350 retirees across 46 states to see what created happiness in retirement.
“One of the main recurring themes was that the happiest and most successful retirees had either eliminated or dramatically reduced their mortgage payment before pressing the retirement button,” Moss says.
“My advice is to follow the one-third rule. If you can pay off your mortgage using no more than one-third of your non-retirement savings, consider paying off your mortgage — today.”
Read the full article here.
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