Happy Sunday! Here’s what we’re covering in today’s Clark Smart Investing newsletter:
Should you pay off your mortgage before you retire?
New data: Will Social Security run out?
Can you “coast” into retirement from where you are now?
Q&A with Wes Moss: I have $100,000 to invest beyond my retirement accounts — what are good options that offer higher potential returns than CDs or savings accounts?
💵 Should You Pay Off Your Mortgage Before You Retire?
Few milestones in personal finance carry as much emotional weight as making that final mortgage payment. Entering retirement completely debt-free is a cornerstone of traditional financial advice.
It promises peace of mind, lower monthly expenses, and a profound sense of security.
However, from a purely mathematical standpoint, aggressively channeling extra cash into a low-interest mortgage isn’t always the optimal move.
If you are approaching retirement, deciding whether to eliminate your mortgage or stick to the scheduled payments is a balancing act between emotional comfort and financial strategy. Read the full article for a breakdown of the pros and cons to help you decide. Plus, a calculator to run your own numbers.
📚 Recommended Reading
Will Social Security really run out? The latest report moved up the timeline again — but the truth is more complicated than most headlines suggest. Here's what could happen, how much benefits could be reduced, and what you can do now to prepare. Read more.
Imagine reaching a point where your retirement savings are on autopilot, growing on their own without another dollar from you. If you step off the financial treadmill to enjoy more freedom, can you still be on track for a secure retirement? Find out if you can — and should — start coasting. Read more.
Sponsor
Cash reserves may provide peace of mind and flexibility during uncertain markets. But holding too much may mean missing out on long-term growth. Learn what investors mean by “dry powder” and how it may fit into a broader investment plan.
💬 Ask an Advisor
✅ Poll: What’s Your Take?
Every week, we'll ask a new question to get your take on the latest financial trends and topics.
What is the most important milestone for you to feel truly secure and ready for retirement?
Last Week’s Poll Results
We asked: “Should parents financially support their adult children?” Here’s how you answered:
Yes, within reason - (13%)
No, cut the money cord at 18 - (14%)
It depends on the situation - (73%)
💸 Money Tip of the Week
Check your credit score: Check your credit score regularly to catch errors and spot potential identity theft early. You can view your score for free through many banks, credit card issuers, or credit-monitoring services. Knowing your score helps you understand where you stand and what steps you can take to improve your financial health.
☎ Need Money Help?
The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.
This information is provided to you as a resource for informational purposes only and is not to be viewed as investment advice or recommendations. Investing involves risk, including the possible loss of principal. There is no guarantee offered that investment return, yield, or performance will be achieved. This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Any company names shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. The views and opinions expressed are for educational purposes only as of the date of production/writing and may change without notice at any time based on numerous factors, such as market or other conditions. Always consult your own legal, tax, or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.
