Excerpt from: AARP (click for full article)
Paying off the mortgage before you head into the land of fixed-income living, otherwise known as retirement, is becoming an unattainable goal for a growing number of people.
A survey by the Securian Financial Group found that about half of 526 retirees polled in March carried mortgage debt into retirement. And it appears that even greater numbers of boomers will follow suit.
The poll asked 495 pre-retirees ages 50 and older if they expected to carry mortgage debt into retirement; 67 percent said yes. In similar surveys by Securian in 2007 and 2009, just 30 percent of near retirees said the same.
Michelle Hall, a market research manager at Securian, called the latest findings troubling.