4. Mortgage
Paying off your mortgage is certainly a good thing. Not only does this mean you’ll have lower retirement expenses, but you’ll also feel relieved and glad. On top of that, you won’t have to worry about the interest rate charged by the lender or the late fees.
Yes, you’ll still be required to pay property taxes, utilities and insurance, and your house will still have to be maintained, but these costs are significantly lower than the amount of money you were paying for your mortgage. But that’s not all. Having lower home costs can help you stretch out your retirement expenses.
The Bureau of Labor Statistics shows that 61.7% of Americans between the ages of 65 and 74 have no mortgage debt, while 82.5% of Americans over the age of 75 are mortgage-free.
2 thoughts on “10 Retirement Expenses You Don’t Have To Worry About”
With the foo\ssil Biden in the white house you would be a fool to drink the koolaid and believe that any left coast city is a good place to retire. The only sane place to retire is florida under the competent leadership of ron desantis
none of these were new or useful as i have learned to live with retirement and how to save on most every thing.