From Dow Jones & Company:

A 71-year-old retiree is wondering whether to pay off two mortgages by selling stock or waiting. With an IRA worth over $800,000 and stocks totaling $600,000, pensions and Social Security amounting to around $9,000 a month, their primary mortgage has $42,000 with a 2.5% interest rate, and the second mortgage is $160,000 with 8% interest. Analysts advise paying off mortgages using extra monthly income or consult a certified financial planner to consider tax-advantageous and reasonable ways to pay off the mortgages while living their lives. Seek paths that will allow assets to continue to grow while staving off big tax bills.



Read more: We’re retired with $1.4 million in investments and two mortgages worth $200,000. Do we pay them off and risk raising our Medicare premium?