"How the heck does someone get to retirement age and still have a mortgage? That one baffles me. Same with car payments
As an estate planning attorney I can answer that, I've seen it caused by:
ACCIDENTS,,,,,,,,ILLNESS,,,,,,,,,,CANCER,,,,,,,,,,HEART DISEASE,,,,,,,,,UNFORSEEN LIABILITY,,,,,,,,,,,CHILDREN OR ADULT CHILDREN NEEDED HELP,,,,,,,,,,,,TRAGEDY IN THE FAMILY
And that's even with people who were frugal, always paid cash, had plenty of money prior with NO car payments NO unpaid mortgages or credit card debt and had insurance even, but catastrophic incidents like the above can still wipe them out.
Of course, absent the above I agree 100% and think (and I do) at or before retirement have everything paid for, a pension and money in the bank, good insurance, possibly long term care insurance (if warranted),,,,,,,plenty of liability insurance,,,,,,,,,good solid well diversified investment portfolio LIKE THE TV COMMERCIAL SAYS "A LIFE WELL PLANNED"
Some have been blessed with the above HOWEVER unfortunately some have not. Good traditional Christian Conservative lifestyle with God, Family, and Country as priorities has worked for me, maybe not others, to each their own I say.
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Today's Featured Article - Chores - by Frank Young. The ceaseless passing of time! It is at once our friend and our enemy. It measures our progress and it makes us old. Like most features of our life, few things are all good or all bad, and most such judgments depend on our own perspective or viewpoint. In our particular hobby, we enjoy the nostalgic return to the days of our youth as we recreate many of the scenes that took place on the family farm that served as the stage for the first few acts of the play that is our live
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