Ill be 57 next month and am divorced with three kids living with me. One is 28, shes working, another is 21 and a senior in college (with a full scholarship) and the youngest is 15 (a sophomore in high school with a full scholarship).
I plan to retire at the end of next year with $25,000 in credit card debt and 15 more years to pay my mortgage. The credit cards have 0% interest. I have a good medical benefit when I retire and it will cover my two sons under 26 years old. My monthly expenses are $2,000, including life insurance, utilities, and a car payment.
My mortgage is around $4,000 monthly impounded. The interest rate is 2% until January 2022, then 3% until January 2023 and the remaining loan is 4.5%. Is it worth it to refinance to a…
Read the full article at: https://www.marketwatch.com/story/i-want-to-retire-next-year-but-i-have-25-000-in-credit-card-debt-and-a-major-monthly-mortgage-payment-i-also-live-with-my-three-kids-and-ex-11602870680