Dear Dave,
My mom is 76, and the only debt she has is about $60,000 left on her mortgage. She has $600,000 in retirement accounts, plus a long-term care insurance policy. But she has just $25,000 in a money market account with check-writing privileges for everyday bills and purchases.
To be honest, this worries me. She has always lived within her means, so am I wrong to be concerned? She has also been talking about paying off her mortgage, and I’m not sure how I feel about that, either. I’d love your opinion.
Kelly
Mortgage, debt, stock market questions for senior mother
Dear Kelly,
You sound surprised that she’d still be in the stock market at her age. In my mind, that’s not a bad thing at all. It…
