Retirement

Don’t Tap IRA to Pay Off Mortgage 

In a "Ask the Debt Advisor," article from Bankrate, Inc, advisor Steve Bucci discouraged an older couple from cashing out their IRA to pay off their mortgage, instead advising them to consider a reverse mortgage. To be clear on his point, Bucci states that exhausting the IRA to pay off the mortgage is "among the worst ideas I've heard in a long time."  He highlights the reality that people are living longer and need to preserve their retirement assets for as long as possible.  As such, it is unadvisable to cash out a liquid retirement account like an IRA, and pay