We're downsizing to new home w/o pool and stairs. Both retired, 70 and 66, both active in pretty good health. Have pensions and SS that cover daily living, well insured, both med and life. Not rich, but have more than enough in tax deferred account to pay cash for new house w/o the sale of old home. Hear that being w/o a mortgage is best for retired peace of mind, but having the money (have to start taking out some for MRD, anyway) liquid is nice too. I can get a VA mortgage @3.75% APR. So cash or mortgage? Especially interested in tax consequences.
- posted 8 years ago