Tag: mortgage
While living in New York City, Clifton Seale and Charles Gilmore piled up an enormous amount of credit card debt for basic expenses and frequent dinners out. After retiring – Seale was a librarian and Gilmore a clergyman – the couple were notified of a $200 rent increase on their Queens apartment. With so muc…
Paying off the mortgage frees up a lot of money for other things. The homeowners in one study splurged on big-ticket items. Older homeowners, however, are adding another priority: medications. After a mortgage payoff, workers and retirees ages 50 to 64 spent 50 percent more on prescription drugs in a comparison with households who had…
