Financial Tip: Should retirees pay off mortgage

This is a recurring recording of WBNG's noon newscast.
Published: Jul. 20, 2022 at 1:41 PM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

(WBNG) -- In this week’s Financial Tip RJ Barber of Visions Investment Services discusses if retirees should pay off their mortgage.

“If retirees have liquid funds in a low yielding savings, checking, money market or certificate of deposit, then yes, they should strongly consider paying off the mortgage,” Wealth Management Advisor RJ Barber said. “The reason why is because they have a negative spread in the bank’s favor.”

To contact RJ and his team at Visions Investment Services, visit the website here.