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Harder for older US workers to pay off mortgage

Sharp fall in home prices, high consumer debt, unexpected expenses add to their woes

Mr Potter and his wife Linda have mortgages on two houses after retirement. Those who want to be financially unencumbered in retirement are advised to first pay off consumer debt and to increase retirement plan contributions

New York

LIKE Archie Bunker, who celebrated paying off his home mortgage by burning his documents in a 1975 episode of All in the Family, many workers once routinely timed retirement to coincide with paying off a mortgage. But now older workers in the United States, stung by a punishing...

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