A Mortgage In Your 50s
It’s not hard to find a 50-something asking the question, “Am I too old to buy a home?” The answer is, absolutely not. A couple of decades ago, the assumption was that everybody retired around age 60 or 65, but today, three out of four Americans plan to work past retirement age. In other words, at 50, you probably still have many working years left, and that means income to put towards a home. That doesn’t mean that you should forget about age. You’re not 20 anymore (thank goodness). Financial decisions are a little more complicated in some ways, but easier in others. If you’re considering purchasing a home in your 50s, think through these issues.