Linda Lubitz Boone, CFP®
September 23, 2021

The problem with “Conventional Wisdom” is that it is an easy way to make a decision — it’s what everyone generally does, according to the Oxford dictionary. But you’re not everyone are you? Consider this — conventional wisdom says homeowners should pay off their home loans before retirement. But does this really make sense for you? 

For some affluent seniors, a mortgage may be a better financial decision. Could it be that it’s better for you to consider refinancing a jumbo loan to get the lowest possible rate (today at 3.125% for a 30 year/2.875% for a 15 year mortgage) and keep your savings in investments, where your money could easily earn more during those 15 or 30 years?

But, you say, the money in my savings account that could be used to pay off a mortgage is only earning 0.2% now, why not take that to pay off my 3.5% mortgage loan and stop having to pay mortgage payments? That’s a very good question and the answer is multi-faceted and not so simple.  Here are some things to consider:

For many retirees, they have accumulated other assets by retirement, and being debt free is more a matter of choice. Can we help you assess whether paying off your mortgage makes sense for you?

Deborah Badillo, CFP®
Client Advisor
September 25, 2021
Shopping With Purpose
I am not a big shopper. That said, when I do shop, I look for presents that pay it forward. What do I mean by that?
Linda Lubitz Boone, CFP®
September 28, 2021
What’s in a Name? The Lubitz Financial Group is now Meira!
The Lubitz Financial Group logo, a tree, was originally conceived after our founder Linda Lubitz Boone discovereda 1912 postcard to her great grandfather from his local bank.
Jorge Padilla, CFP®
Principal, Senior Client Advisor
September 26, 2021
Investing with Purpose: ESG, SRI, Values Based, and Impact Investing
It all started with a few clients wanting to ensure their money was helping to fund more developments that combat fossil fuel consumption.
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