[quote=SK in CV]Concur. Flexibility is a GREAT reason to have a mortgage even if a retiree has the wherewithal to pay it off, recognizing that it does come with a price. In some cases it’s well worth it.
My friend is almost 63, and he is better off than most. He bought right, saved a lot (despite making almost nothing on his investments), doesn’t live beyond his means, and always borrowed appropriately. Now he’s just looking for hobbies.[/quote]
Oh, I “assumed” he was over 65 because you said he was collecting SS. If he is 62, he either took a partial SS early or will wait until age 66 to take it.
Or, perhaps I understood wrong and you meant “projected SS.”
Yes, there are a LOT of boomers like him who have always lived modestly within their means. It doesn’t matter if they own their residence in MH or ChulaV. What their houses are “worth” today has no bearing on what they actually paid for them.
