@gauravsoodtiktok: Should You Pay Off Your Mortgage Before You Retire? Many Canadians believe they should enter retirement with no mortgage. While that may be the right decision for some, it's not always the most effective use of capital. Paying off a mortgage reduces debt, but it also converts liquid assets into home equity. Depending on your retirement income, cash flow, tax situation, investment strategy, and flexibility needs, preserving liquidity may be the better option. The best decision isn't based on emotion—it's based on your overall retirement plan. Relevant references: * Income Tax Act (Canada), ss. 146 and 146.3 (RRSP/RRIF) ______________________________________ Disclaimer: This content is for educational and informational purposes only and does not constitute financial, legal, tax, investment, or other professional advice. The concepts, strategies, and examples discussed are general in nature and may not be suitable for your specific situation. Always consult a licensed professional in your jurisdiction who can assess your individual circumstances before making any decisions. Past performance or hypothetical illustrations are not guarantees of future results. All investments involve risk, including the potential loss of principal. Any tax-related information is based on current Canadian rules and may change without notice; application and eligibility may vary by province or territory. This content does not constitute a solicitation to buy or sell any product, security, or service, nor does it endorse any specific provider. Viewers are solely responsible for their own financial decisions and outcomes.

Gaurav Sood

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Region: CA

Friday 07 August 2026 20:33:56 GMT