Re: minimum income
Paying off the mortgage is having the money work for you. You can save the 6% mortgage interest or you can hope to make 7% in the market.
There isn't a market broker anywhere who will tell you to take your money out of the market.
Common investment stratagy is to be financially conservative in your retirement years; conservative investors go into the bond market and make less than mortgage interest.
(and Stevefrom NY correctly answered the later mortgage issue - you use the mortgage funds to alleviate the cash crunch)
__________________
Da Chicago So Side; The Village of Park Forest, IL; 3/7 Cav, 3rd Inf Div, Schweinfurt, Ger 65-66; MACV J12 Saigon 66-67; San Leandro, Hayward & Union City, CA (San Francisco East Bay Area) GO DUBS ! (aka W's)
|