Kerry M. Kerstetter, CPA (referred to as The Tax Guru by other CPAs around the country) helps capitalists, investors & small business owners win the tax game. See www.TaxGuru.org for much more detailed info.
Please note that Kerry does not personally agree with every item included here; but passes them along for the benefit of the readers' understanding of the varied viewpoints on the issues being discussed.
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Tax Guru-Ker$tetter Letter
Wednesday, May 04, 2005
Retirees: Should You Pay Off Your Mortgage? – I’ve never been a big fan of owning expensive property free and clear for a couple of reasons. It puts a big chunk of your net worth in one asset, which is not as good as diversifying. Second, being real estate rich and cash poor is not a good spot to be in. This is especially important with the recent appreciation in real estate values. Owning a $500,000 home with no mortgage isn’t a wise move if that means that you don’t have the money you need to take trips, buy a nice car and enjoy your last years.
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 5/04/2005 09:36:00 PM Send this post:
